Get the app today! Download iPhone App Download Android App

SUBSCRIBE

Starbucks To Nearly Double Spending With Diverse Suppliers By 2030

Published on Jan 13 2022 12:02 PM in Restaurant tagged: Trending Posts / Starbucks

Starbucks To Nearly Double Spending With Diverse Suppliers By 2030

Starbucks Corp will nearly double its spending with suppliers and vendors from underrepresented groups in North America by 2030 to $1.5 billion, it has said.

Starbucks Chief Global Inclusion And Diversity Officer Statements

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

"This will give us an opportunity to seek out and search for more" Black, indigenous and people of colour who are building businesses, he said. "Smaller companies...can take advantage of this current situation."

Annual Update

The global coffee chain said it will update annually its progress on the spending.

New Diversity Goals

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

Minority-Owned Media Companies

Starbucks also said that it will spend 15% of its fiscal 2022 paid media budget with minority-owned media companies. The company declined to provide a dollar figure.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

Share on Facebook Share on Twitter Share on LinkedIn Share via Email