Designer Brands Inc. Announces Launch of New Charitable Designer Brands Foundation
Rhea-AI Summary
Designer Brands Inc. (NYSE: DBI) has launched the Designer Brands Foundation, reinforcing its commitment to community service. The foundation aims to empower individuals by removing barriers and helping them 'put their best foot forward'. It focuses on three areas: empowerment, inclusion, and local communities. The foundation is primarily funded by DBI and customer donations.
Key initiatives include:
- A $50,000 donation to Girls on the Run International
- Soles4Souls Back to School Campaign with over $4 million donated to date
- An additional $1 million commitment for 2024
- $100,000 pledged for community grants in its first year
The foundation represents a strategic approach to DBI's philanthropic efforts, aiming to create lasting change in communities where its associates live and work.
Positive
- Launch of Designer Brands Foundation demonstrates commitment to corporate social responsibility
- $50,000 donation made to Girls on the Run International
- Over $4 million donated to Soles4Souls through various initiatives
- Additional $1 million commitment to Soles4Souls for 2024
- $100,000 pledged for community grants in the foundation's first year
Negative
- None.
News Market Reaction
On the day this news was published, DBI gained 0.83%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
COLUMBUS, Ohio, Aug. 6, 2024 /PRNewswire/ -- Designer Brands Inc. (NYSE: DBI) (the "Company," "DBI" and "Designer Brands"), one of the world's largest designers, producers and retailers of footwear and accessories, is proud to announce the launch of the Designer Brands Foundation.
This new foundation reinforces Designer Brands' and DSW Designer Shoe Warehouse's ("DSW") continued commitment to serving their communities. The Designer Brands Foundation's purpose is to advance the empowerment of individuals by removing barriers and helping them put their best foot forward. Notable contributions have already been made through the foundation, including a
With a focus on three identified areas of impact: empowerment, inclusion, and local communities, the Designer Brands Foundation, primarily funded by DBI and customer donations, is an opportunity to broaden the Company's charitable giving, remove barriers and increase overall funding and support in the communities where DBI's associates live and work.
"The launch of the Designer Brands Foundation represents a significant step forward in our mission to make a positive impact where it matters most and allows us to give back to causes important to our associates and our communities," said Amy Jo Donohew, SVP of Human Resources at Designer Brands. "Philanthropic values have always existed within Designer Brands, but now through our foundation's strategic initiatives, we aim to empower even more individuals and support our diverse communities, so that we can all create meaningful and lasting change."
Beginning in July, Designer Brands kicked off its Soles4Souls Back to School Campaign in DSW stores nationwide. With over
About Designer Brands
Designer Brands is one of the world's largest designers, producers and retailers of the most recognizable footwear brands and accessories, transforming and defining the footwear industry through a mission of inspiring self-expression. With a diversified, world-class portfolio of coveted brands, including Crown Vintage, Hush Puppies, Jessica Simpson, Keds, Kelly & Katie, Lucky Brand, Mix No. 6, Topo Athletic, Vince Camuto and others, Designer Brands designs and produces on-trend footwear and accessories for all of life's occasions delivered to the consumer through a robust direct-to-consumer omni-channel infrastructure and powerful national wholesale distribution. Powered by a billion-dollar digital commerce business across multiple domains and 675 DSW Designer Shoe Warehouse, The Shoe Co., and Rubino stores. In North America, Designer Brands delivers current, in-line footwear and accessories from the largest national brands in the industry and holds leading market share positions in key product categories across Women's, Men's and Kids'. Designer Brands also distributes its brands internationally through select wholesale and distributor relationships while also leveraging design and sourcing expertise to build private label products for national retailers. Designer Brands is committed to being a difference maker in the world, taking steps forward to advance diversity, equity and inclusion in the footwear industry and supporting a global community and the health of the planet by donating more than nine million pairs of shoes to the global non-profit Soles4Souls since 2018. To learn more, visit www.designerbrands.com.
For further information:
Media: Inspire PR for Designer Brands
Katie Lundy
Katie@inspireproup.com
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SOURCE Designer Brands, Inc.
FAQ
What is the purpose of the new Designer Brands Foundation (DBI)?
How much has Designer Brands Inc. (DBI) donated to Soles4Souls?
What is the value of community grants pledged by Designer Brands Inc. (DBI) for 2024?
How is the Designer Brands Foundation (DBI) primarily funded?
