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What Is the 15 Percent Pledge and Which Companies Have Taken It?

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This year, fashion designer Aurora James started a movement called '15 Percent Pledge' in response to ongoing racial disparities in the U.S. This initiative urges "major retailers to commit 15% of their shelf-space to Black-owned businesses."

Wondering how it got the name? Well, 15% represents the population of Black people in the U.S., which is nearly 15%.

Even though the movement is fairly new, it has caught attention of a few companies. Some companies including Macy's  (M) , Sephora, West Elm and Madewell have even pledged their support. 

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In October, Indigo, a bookstore chain, became the first Canadian company to join the movement.

"We are pleased to be joining the 15 Percent Pledge," said Indigo's CEO Heather Reisman, in statement. "We are looking forward to further growing the number of brands and authors that we support through our platform and continue to look for opportunities to ensure that all Canadians see themselves in Indigo."

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TheStreet reached out to James to inquire if the 15 Percent Pledge has reached out to big retailers like Walmart  (WMT)  to join the movement. 

"The 15 Percent Pledge targets large retailers because they can have the biggest economic impact on the community," James told TheStreet via email. "When a retailer such as Walmart commits to the pledge, which they have not done, they can work in closing the financial equality gap that currently exists and put millions of dollars back into the Black community," she added. 

TheStreet's month-long series Black History, Wall Street and Beyond continues with a look at historical black history milestones below:

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