Building and nurturing a strong commitment to the communities where we live and work has always been important to L Brands. In 2003, we launched our supplier diversity initiative that is guided by our values “inclusion makes us stronger” and “it matters how we play the game.”
Partnering with diverse businesses is important to our success and to our role as a leader in the retail industry. The supplier diversity initiative enables L Brands to have access to the best vendors in each sourcing category. Thus, we seek relationships with suppliers that mirror our values by ensuring diversity in their supply base. The mutually beneficial business will broaden the economic vitality and prosperity of the communities we serve, create value for our shareholders and provide fresh perspective and innovative solutions to our business.
Suppliers interested in partnering with us through the supplier diversity program must be certified by any of the following third-parties:
Why do we require third party certification?
To ensure that the minority, women, veterans and/or LGBT companies we work with are owned and operated by diverse people. Additional benefits of diversity certification with a third party organization include business networking opportunities. Most certification programs are designed to strategically match diverse suppliers with buyers and decision makers with member corporations. Matches are based on products and services that corporate representatives are interested in and/or procure regularly.
In addition to building direct relationships between L Brands and diverse business enterprises, we ask our primary suppliers to mirror our practices and work to increase and report their use of diverse suppliers.
While supplier diversity seeks to ensure a level playing field in our procurement practices, the decision to award business to a diverse supplier is based on a supplier’s ability to provide the product or service that best meets our business requirements.