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PepsiCo’s Developments Towards Facilitating Black and Hispanic Suppliers

ConsumerGeniuses

ConsumerGeniuses

PepsiCo has reinstated its promise to invest millions in Black suppliers. In accordance with its Racial Equality Journey that commenced in 2020, it intends to spend $400 million with Black and Hispanic suppliers every year. On the 40th anniversary of its Supplier Diversity Programme, the company announced that it invested over $1 million in diverse suppliers including women, Asians, members of the LGBTQ community, and people with disabilities. Purchase, a New York-based company, increased spending from 5 million in 1983 to 30 billion dollars over 40 years. It emphasised the importance of improving spend with new forums, mentorships, and partnerships. PepsiCo claims to have spent $500 million on Black and Hispanic suppliers in 2021, accommodating 10 such businesses. This led to utilising a Black woman-owned agency for the rebranding of Pearl Milling Co. and the development of the P.E.A.R.L (Prosperity, Empowerment, Access, Representation, Leadership) Pledge.

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