Macy’s Inc. is doubling down on its sustainability and equity efforts.
In an announcement on Tuesday, the department store chain said it has launched the “Mission Every One” social purpose platform, which commits the company to leveraging its resources, talent and scale to “create a brighter future with bold representation for all,” the retailer said.
Built on three pillars of impact — people, communities and planet — Macy’s said it will direct $5 billion of the company’s spend through 2025 to the partners, products, people and programs that help create a more equitable and sustainable future.
“Mission Every One will be an essential part of how we operate and the decisions that we make as a business,” said Jeff Gennette, Macy’s chairman and CEO in a statement. “We believe that when our business enables everyone to stand in their truth and have a seat at the table, they realize their full potential, which unlocks innovation and progress for all.”
Among the program’s people-focused strategy, Macy’s is increasing its investment in underrepresented designers, brands and business partners, as well as products and service providers across Macy’s and Bloomingdale’s. The department store giant noted that a portion of its overall $5 billion commitment will support retail and non-retail diverse-owned businesses, investments in diverse retail development programs including “The Workshop at Macy’s,” and expand its offering of certified sustainable products.
Watch on FN
In order to promote diversity within the organization, Macy’s said it will accelerate its representation goals among leadership by achieving 30% ethnically diverse representation by 2025 at the director level and above.
Other people-related initiatives include investing approximately $35 million over the next 4 years in a fully funded education benefit program through Guild Education; raising the minimum wage to $15 per hour by May 1, 2022; and focusing its corporate grant funding toward organizations advancing human rights, racial justice, workforce development and economic opportunity.
As for its community pillar, Macy’s said it will donate more than $100 million by 2025 to nonprofit organizations that support the emotional well-being and education of underrepresented youth like Girls Inc., The Trust for Public Land, APIA Scholars and The Trevor Project. Macy’s said donations will be funded through customer giving and round-up campaigns, in addition to corporate grants and colleague donations across Macy’s and Bloomingdale’s.
Macy’s is also committed to providing $2 million by 2025 to support programs and scholarships for underrepresented youth in fashion, design and sustainability, and offering mentorship and employment opportunities throughout the business.
And when it comes to the planet, the retailer said it is increasing the use of sustainably sourced raw materials and fibers in the design of its private-label products — such as cotton, synthetic and wood-based materials — to support its goal of achieving 100% preferred materials in Macy’s private brands by 2030.
