[1] The murder of George Floyd sparked a wave of activism for the Black Lives Matter movement that renewed calls for social justice reform and the end of systemic racism, and included declarations of support from various corporations;[2][3] according to TIME Magazine, James wanted to "find a way that companies could make a tangible change," and "from there, the 15 Percent Pledge was born.

"[4] James launched the initiative called the 15 Percent Pledge[5] with an Instagram post on May 29, 2020, that tagged Barnes & Noble, Home Depot, MedMen, Net-a-Porter, Saks Fifth Avenue, Sephora, Target, Walmart, and Whole Foods.

"[7][8] In August 2020, James recalled, "I was watching Black-owned businesses literally shutter before my very eyes while I was also seeing these major retailers say, 'We stand with you,'" ... "And the reality is that you actually don't.

[17] The New York Times writes Sephora also "said it would provide connections and support to black-owned businesses from funders and venture capitalists and evolve its existing incubation programs to 'focus on women of color,'" and that this is an example of the type of longer-lasting change sought by the 15 Percent Pledge.

[22] In April 2021, the foundation publicly addressed the announcement by Target of its plan to spend more than $2 billion on Black-owned businesses by 2025,[23] with a statement that included, "We should not be applauding this.

[16][26] Currently 29 companies have committed to the pledge including Ulta Beauty, Nordstrom, Banana Republic, Moda Operandi, Kith, J.Crew, Blue Mercury and Victoria's Secret.