Gap Inc. Joins the 15 Percent Pledge and Commits to Increasing Pipeline Programs by 15 Percent

Rhea-AI Summary

Gap Inc. has committed to the 15 Percent Pledge, aligning with its mission to create a more equitable retail landscape. The company will increase its pipeline programs for Black communities by 15%, starting with initiatives such as internships and training. Additionally, Gap Inc. has pledged $200,000 to support the organization’s goals. This commitment aims to enhance opportunities for Black and Latinx individuals within the workforce and highlight the company's dedication to diversity and inclusion in response to pandemic-induced challenges faced by Black businesses.

Positive

• Gap Inc. commits to increasing pipeline programs for Black communities by 15%.
• The company is donating $200,000 to support the 15 Percent Pledge's mission.
• The partnership aims to enhance career opportunities in retail for Black and Latinx individuals.

Negative

• None.

The 15 Percent Pledge and Gap Inc. announced today that Gap Inc. is the latest in a series of major companies to commit to using their financial power to create more equitable industries and profit structures. Gap Inc. will be working in lock-step with the Pledge to develop its own unique strategy for reaching the company’s commitments, with additional updates to come over the next few months.

Gap Inc. Joins the 15 Percent Pledge. Aurora James, Founder, 15 Percent Pledge (Photo: Business Wire)

“As we approach the one-year mark of a pandemic that has decimated Black businesses and communities, it is crucial that companies step up to create economic opportunities for Black people at every level of the workforce,” said Aurora James, founder of the 15 Percent Pledge. “Committing to the Pledge is not a band-aid solution — it requires a comprehensive re-evaluation of business as usual, and we are thrilled that Gap Inc. is partnering with us to drive racial equity across retail.”

Gap Inc., the nation’s largest specialty apparel company and collection of purpose-driven lifestyle brands including Old Navy, Gap, Banana Republic, and Athleta, has joined the 15 Percent Pledge as an advocacy partner, aligning with the Pledge’s mission of creating a more equitable industry. Gap Inc. will increase their pipeline programs by 15 percent to drive access and opportunity for the Black community within the Gap Inc. family of brands starting with early empowerment programs, including internship, externship, apprenticeship, and training. Gap Inc. is proud to donate $200,000 to the organization to further support their mission. In February, Gap Inc. will share the company’s progress to create for all, with all.

“Driving lasting change takes time and maniacal focus, and we’re invested for the long-term,” said Kisha Modica, Head of Equality & Belonging, Gap Inc. “As we strive to enable a culture of inclusion and belonging for all, we are excited to partner with the 15 Percent Pledge to accelerate our commitment to increase access and opportunity for Black and Latinx communities.”

About 15 Percent Pledge

The 15 Percent Pledge is a 501c3 non-profit advocacy organization urging major retailers to commit 15% of their shelf-space to Black-owned businesses. It offers large corporations accountability, support and consulting services with the goal of advocating for and supporting Black-owned businesses. The 15 Percent Pledge seeks economic equality and prosperity for Black future founders, Black students, and Black people in the workforce. Launched in 2020 by Aurora James, the initiative was born from seeing multiple acts of social injustice and police brutality in the United States, with a lack of accountability for the systemic issues at play. Businesses including Sephora, Rent the Runway, West Elm, MedMen and now Vogue Magazine, have all committed to the 15 Percent Pledge. For more information, visit www.15percentpledge.org

About Gap Inc.

Gap Inc., a collection of purpose-led, billion-dollar lifestyle brands, is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Janie and Jack brands. Fiscal year 2019 net sales were $16.4 billion. Gap Inc. products are available for purchase worldwide through company-operated stores, franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210201005150/en/

FAQ

What is Gap Inc.'s commitment to the 15 Percent Pledge?

Gap Inc. has committed to increase its pipeline programs for Black communities by 15% and donated $200,000 to support the initiative.

How does the 15 Percent Pledge support Black-owned businesses?

The 15 Percent Pledge encourages retailers to dedicate 15% of their shelf space to Black-owned businesses, providing accountability and consulting services.

What initiatives will Gap Inc. implement to support diversity?

Gap Inc. plans to implement initiatives like internships, externships, apprenticeships, and training programs to promote access for Black individuals.

What is the financial impact of Gap Inc.'s commitment?

While specific financial impacts are not detailed, the $200,000 donation and program enhancements are aimed at fostering economic opportunities.

When will Gap Inc. provide updates on its commitment?

Gap Inc. will share updates on its strategy and progress in February.