The Home Depot joined the Billion Dollar Roundtable (BDR), a nonprofit organization that promotes supplier diversity excellence and best practices. The BDR consists of U.S.-based corporations that spend $1 billion or more annually with minority and women-owned suppliers.
“At The Home Depot, we celebrate and invest in diverse businesses for their innovative and unique products, ideas, and perspectives,” Jeff Kinnaird, Home Depot’s executive vice president of merchandising, said in a news release. “That’s why we are proud to be growing our supplier diversity program to further meet the needs of our customers, increase shareholder value, and create economic opportunities in the communities we serve.”
In the fiscal year 2021, Home Depot spent $3.3 billion with diverse suppliers and put processes in place to ensure that a portion of money that the company spends on products and services across its entire supplier program is allocated to diverse businesses.
“Few retail companies are as well-known and well-positioned as The Home Depot, a brand that consumers rely on day-in and day-out,” BDR chairman Shelley Stewart, Jr. said. “By the nature of its business, The Home Depot is a natural hub and partner for supplier activity, and the Billion Dollar Roundtable welcomes the unique contributions it will contribute in our collective effort to drive supplier diversity excellence.”
