The highly anticipated 2025 Fifteen Percent Pledge Gala is set to take place on February 1-2, 2025, at the iconic Paramount Studios in Los Angeles. This gala marks the fourth annual event organized by the Fifteen Percent Pledge, a non-profit organization founded by Aurora James, aimed at increasing the representation of Black-owned businesses in retail.
Who’s hosting the gala?
This year’s gala will be hosted by a star-studded committee that includes Aurora James, actress Yvonne Orji as the emcee, and notable figures such as Emma Grede, Kenya Barris, Brandon Blackwood and Diane von Furstenberg. The event will maintain a Black Designer and Black Tie dress code, emphasizing the celebration of Black culture and creativity.
Mission and vision of the Fifteen Percent Pledge
The Fifteen Percent Pledge was initiated with a clear goal: to ensure that at least 15% of retail shelf space is allocated to Black-owned businesses. According to Essence, Aurora James articulated the broader mission, stating, “While we stand by our goal to achieve at least 15 percent representation for Black businesses across retail shelves and supply chains, we’ve learned that our mission is so much bigger than a number.” This statement reflects the organization’s commitment to addressing systemic inequities in business.
Kickoff to Black History Month
The gala weekend will coincide with the beginning of Black History Month, serving as a platform to showcase beauty and fashion brands while honoring the hard work of Black entrepreneurs. James expressed her excitement about the event, stating, “Seeing them take a moment away from the grind to reflect and celebrate their accomplishments is amazing.” This celebration is not just about recognition; it’s about building a supportive community.
Community engagement and shopping activation
In addition to the gala, the event will feature a shopping activation at Paramount Studios, highlighting Black-owned brands across various categories, including music and food. This initiative aims to connect the digital community with the Fifteen Percent Pledge while making the gala experience accessible to the Los Angeles community.
Addressing the funding gap
James has been vocal about the challenges Black businesses face in securing funding. She noted that less than half of one percent of venture capital is allocated to Black founders, a statistic that underscores the urgent need for systemic change. “Each year, less than half of one percent of venture capital goes to Black founders. This alarming statistic represents a much bigger problem in our economy that has not improved in the last five years,” she stated to Essence.
Partnerships for change
Stephanie Horton, Senior Director of Google Shopping, emphasized the importance of equitable retail landscapes and expressed pride at Google Shopping’s partnership with the Fifteen Percent Pledge. This partnership highlights the collaborative effort required to close the racial wealth gap.
Grants and awards
The gala will also feature significant grants aimed at supporting Black entrepreneurs. Notably, the $200,000 Achievement Award presented by Google Shopping will be awarded to an eligible founder, with additional awards of $35,000 and $15,000 for runners-up. The event will also see the return of the $100,000 Sephora Beauty Grant for a rising star in the beauty industry, continuing the tradition of recognizing and uplifting Black talent.
The 2025 Fifteen Percent Pledge Gala is not just a celebration; it’s a call to action for individuals and corporations to recognize the value of Black businesses and the need for equitable opportunities.
