Wal-Mart to Double Spending at Women-Owned Businesses
More merchandise produced by women-owned businesses will be seen on Wal-Mart shelves over the next five years. Yesterday Wal-Mart announced a plan to double the money spent purchasing from these businesses.
Through 2016 Wal-Mart plans to spend $5 billion every year with suppliers owned by women, last year Wal-Mart spent $2.5 billion. In addition Wal-Mart says they will double spending at international women-owned businesses.
The announcement comes after a gender-bias lawsuit, filed by over one million female workers at Wal-Mart claiming they discriminated against, was thrown out by the U.S. Supreme Court in June.
Wal-Mart’s announcement yesterday means that women-owned businesses will be receiving an additional $12.5 billion over the next five years. With the recent press around Wal-Mart’s sexual discrimination lawsuit the mega-company is trying to restore their reputation, and female small business owners will benefit.