Walmart has announced that it is one of nine corporations joining in a collaborative effort to source from women-owned businesses (WOBs). Over the course of the next five years, the company will track and report sourcing from self-identified and certified WOBs.
This marks the first time the Women’s Business Enterprise National Council (WBENC), the largest third-party certifier of businesses owned, controlled, and operated by women in the U.S., will launch a formal initiative to publicly report aggregated spending on WOBs. Walmart helped form this unified front of major corporations, including Campbell Soup Company, The Coca-Cola Company, ExxonMobil, General Mills, Johnson & Johnson, Mondelēz International, PepsiCo and Procter & Gamble, in order to create a more visible movement and raise awareness for the importance of sourcing from WOBs.
“We are proud to be part of this important initiative, and together we can make an even bigger impact in elevating these successful women-owned businesses,” says Doug McMillon, president and CEO of Wal-Mart Stores, Inc. “Our customers care where products are sourced, and we believe supporting women-owned businesses helps us put innovative products on our shelves while helping these businesses thrive and grow.”
The initiative comes at a critical time when female entrepreneurs report having smaller and less diverse networks, leaving them at a disadvantage for growth, innovation and global relevance.
“By participating in this initiative, these companies will help fuel innovation and growth for women-owned businesses across the U.S.,” says Pamela Prince-Eason, president and CEO of WBENC. “With women-owned businesses currently supporting the creation or maintenance of 23 million American jobs, investing in their growth means investing in more opportunities for the workforce overall.”
This announcement comes on the heels of the culmination of Walmart’s five-year Global WEE Initiative, which included a set of goals to help empower women around the world through sourcing, training and supporting diversity and inclusion. As part of the WEE Initiative, Walmart sourced $20 billion from women-owned businesses in the U.S. and increased sourcing from women-owned businesses internationally. Additionally, in 2014, working with WBENC and WEConnect International, Walmart helped fund the creation of the “Women-Owned” logo. This can be used by any woman-owned supplier certified by those organizations at any retailer to highlight their products to consumers. Today, Walmart has more than 1,500 suppliers who identify as women-owned businesses, producing everything from apparel to produce.
For additional details on Walmart’s Global WEE Initiative, visit http://corporate.walmart.com/womensempowerment.
