Albertsons Cos. has opened its annual application process for diverse-owned suppliers. As part of the company’s ongoing commitment to fostering diversity, equity, inclusion and belonging, the Albertsons Cos. Supplier Diversity Program is designed to discover, support and give diverse-owned suppliers the opportunity to expand their business with Albertsons Cos. and its stores, according to a news release.
“At Albertsons Cos., we are committed to providing opportunities for diverse entrepreneurs and businesses to successfully grow their brands and sell their products on our store shelves,” Monique Lanaux, group vice president and chief diversity, equity, inclusion and belonging officer for Albertsons, said in the release. “Through our Supplier Diversity Program, we are building an inclusive culture in our stores that values diversity and reflects the many communities where we live and serve.”
The application process is open now to diverse-owned suppliers, which include small and midsize businesses that are at least 51% owned, controlled and operated by women, Black, indigenous and people of color, LGBTQ+, veterans or people with disabilities who can offer products that appeal to the varied preferences of Albertsons Cos. diverse customer base, according to the release.
Albertsons Cos. said its supplier diversity program also works closely with diverse business owners to overcome challenges and various barriers including access to working capital. For many small and medium-sized businesses, obtaining working capital is critical to growing their operations. Through Albertsons Cos. continued partnership with C2FO, diverse-owned brands can receive early payment terms on approved invoices, unlocking fast and flexible access to low-cost capital, the release said.
Last year, nearly 500 businesses submitted applications for the supplier diversity program and more than 60 diverse-owned brands were selected to meet with the Albertsons Cos. merchandising team, according to the release. As a result, six diverse-owned brands were added to the more than 200 certified diverse suppliers already selling their products nationwide at Albertsons Cos. stores.
Diverse business owners interested in having their products considered to sell in one or more Albertsons Cos. stores, including Albertsons, Safeway, Vons, Jewel-Osco, ACME and Shaw’s, should submit an online application by Feb. 2. Diverse suppliers who are selected to meet with the Albertsons Cos. team will be notified by Feb. 16 and appointments will be scheduled for early April, according to the release.
