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Business

Sephora pledges to devote more shelf space to black businesses

Sephora Pledges to support black businesses

Cosmetics giant Sephora became the first major retailer to sign onto a pledge to dedicate 15 percent of its shelf space to products from black-owned businesses.

The commitment is part of a “long-term plan diversifying our supply chain and building a system that creates a better platform for black-owned brands to grow,” the company said Wednesday in a statement. It also plans to improve black business owners’ access to venture capital and support their development.

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