Foot Locker’s LEED initiative has invested $35 million in Black communities across the US

Reggie Wade
·Writer
·2 min read

Last June, Foot Locker (FL) announced its new Leading Education & Economic Development (LEED) initiative, a $200 million five-year commitment to support the Black community through economic development and education. Today Foot Locker announced that it has invested $35 million in Black communities across the U.S. and has launched various initiatives to spur Black businesses.

Priorities of the LEED initiative include making investments in Black-owned businesses within youth culture, purchasing more products from Black-owned brands, donating to organizations that are creating economic development and advancement opportunities for minorities. Foot Locker will also look to diversify its global supplier and agency investments to Black-owned businesses.

When it comes to the educational portion of the LEED initiative, Foot Locker plans to extend current scholarship programs for athletes, fund training for Black Creatives at Pensole Footwear Design Academy as well as investing in education programs for Black team members through its Black Employee Resource Group known as B.U.I.L.D

Foot Locker shop on O'Connell Street. On Friday, December 18, 2020, in Dublin, Ireland. (Photo by Artur Widak/NurPhoto via Getty Images)
Foot Locker shop on O'Connell Street. On Friday, December 18, 2020, in Dublin, Ireland. (Photo by Artur Widak/NurPhoto via Getty Images)

“This commitment will manifest in many ways and across many parts of our business with plans built to have staying power long beyond five years,” said Foot Locker CEO Dick Johnson when the initiative launched.

Patrick Walsh, VP of commercial growth and transformation at Foot Locker and the head of the LEED initiative, tells Yahoo Finance that investments are more than just a corporate initiative — the cause is personal.

“Personally, it’s important for me as a Black male. I understand the significance of me being a Black male and in a position of leadership and this thing of culture. So it’s tremendously important for me to use my platform, to provide opportunities for others that look like me and grew up in communities like I grew up in.”

Walsh tells Yahoo Finance that Foot Locker’s commitment to Black and Brown communities is not only focused on race and culture but on having a sustained impact on America’s youth.

“Foot Locker is creating a purpose and impact ecosystem that remains rooted in inspiring and empowering youth culture. Gen-Z is demanding more equity specifically for Black and Brown youth. And then, you know, Footlocker is committed to doing his part, to close the upper mobility gap in the black community.”

  • Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at @ReggieWade.

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