adidas Commits $120 Million Through 2025 Towards Racial Equality Measures
In the wake of George Floyd’s murder and the international outcry over the racial inequality of North America in particular, corporations are looking at how to contribute to the cause and fix internal issues of racial inequality amongst the company. Brands like Nike and Jordan Brand have devoted millions of dollars and are begining to implement better hiring practices, now adidas has followed suit.
Detailed in a press release, adidas has promised to spend $120 million USD between 2020 and 2025 towards “creating a team dedicated team to manage and facilitate the increased funding of [adidas’] grassroots programs that address racial disparities“. The German brand will also fund 50 scholarships a year for Black students at adidas partnered schools. Furthermore, the note details the company’s Zero Tolerance Policy against discrimination in the workplace and increasing the diversity of hires in their internal and external positions by 30% for open positions and 50% for new ones.
You can read adidas full statement here.
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