Fashion: Sector Known for influencing trends, creatives, and possibly the future of black entrepreneur stocks.
Last week, the second Fifteen Percent Pledge Gala, hosted by the nonprofit of the same name, celebrated black entrepreneurship and the organization’s efforts to promote equity in the fashion industry.
The nonprofit stemmed from a call posted by designer Aurora James in 2020, urging retailers to stock at least 15% of their shelves with products from Black-owned businesses. . (This number is not arbitrary. Black people make up about 15% of the U.S. population.) The call turned into a pledge, which has since been extended to 29 retailers, including Yelp, Rent the Runway, Sephora, and Nordstrom. became a non-profit organization in collaboration with Since launching three years ago, she has provided the Black community with her over $10 billion opportunity.
This pledge boosted opportunities for black entrepreneurs. The foundation itself has launched a Google-sponsored marketplace. At the celebration, he gave over $250,000 in grants to black businesses. This was a life-changing sum for many. The average black business starts at around $35,000, compared to around $100,000 for the average white founder. Their venture capital efforts are equally dire, and most of their businesses do not survive the start-up stage.
“I am also the descendant of the people who were enslaved in this country. Such a program could be the closest thing to compensation in my lifetime.” Founder Mech Zilla
