Starbucks doubles spending with vendors from underrepresented groups

109
1
Starbucks doubles spending with vendors from underrepresented groups

NEW YORK, January 11, Reuters - Starbucks Corp will double its spending with suppliers and vendors from underrepresented groups in North America by the year 2030 to $1.5 billion, it said on Tuesday.

Dennis Brockman, Starbucks'chief global inclusion and diversity officer, said the company believes it can use COVID 19 related global supply chain disruption to increase diversity.

He said that this will give us an opportunity to look for more Black, indigenous and people of color who are building businesses. This current situation is a good way to take advantage of it. The coffee chain said it will update its progress on the spending every year.

Starbucks and other major restaurant companies, including McDonald's Corp MCD.N, have laid out new diversity goals amid a national reckoning over race caused by the murder of George Floyd, a Black man, by a Minneapolis police officer in May 2020.

Starbucks will spend 15% of its 2022 paid media budget with minority-owned media companies, according to a statement on Tuesday. The company didn't give a dollar figure.