Photos: YouTube Screenshots
LOS ANGELES — Sean “Diddy” Combs wants to strengthen the Black dollar: The music mogul is spearheading a new online marketplace called Empower Global that will specifically feature Black-owned businesses.
“I want to create our own Black Wall Street,” Combs said about his e-commerce platform, which launched last week. He feels passionate about building substantial wealth in his community similar to the Greenwood community, the thriving Black-owned business district in Tulsa, Oklahoma, that was decimated in a two-day attack by a white mob in Oklahoma in 1921.
Combs said he’s not looking for financial benefit after he invested $20 million into Empower Global, which allows consumers to purchase products exclusively created and sold by Black entrepreneurs.
The curated marketplace featuring Black-owned brands will allow consumers to purchase clothing, shoes, beauty accessories including skin care and fragrances, and even wall art. The platform was designed and created by two Black-owned companies, TechSparq and ChatDesk.
The platform launched with 70 brands with plans to introduce new Black businesses monthly. He hopes to showcase more than 200 brands by the end of the year.
“This is about building our own infrastructure and ecosystem,” Combs said. “I’m not doing this for profit. This is about us.”