On its 150th anniversary, the American luxury department store, Bloomingdale, announced the launch of b the change, a new social purpose initiative that will define the future of the company's social impact efforts.

Bloomingdale and the Fashion Institute of Technology (FIT) of the State University of New York have joined forces to create the Bloomingdale's x FIT Sustainable Innovation Fund, a joint initiative that will organize charitable and environmentally friendly initiatives for the brand-new b the change platform.

Tony Spring, Chairman and CEO of Bloomingdale's, said that as they commemorate their milestone anniversary, they are not only looking back on the last 150 years but also looking forward to our future era. They consider it their duty to contribute to the creation of a more just and sustainable future for all of their coworkers, clients, and neighbors. They’re thrilled to have had the opportunity to work with FIT to implement new programs and activities that will assist mold the future of their business and to bring about the transformation. Together, they’re fostering a more welcoming and varied culture and deepening the impact of their charitable endeavors.

Bloomingdale's is updating its social responsibility and charitable pledges with the shift, as well as moving forward with its commitment to sustainability and innovation. The three unique pillars of the new platform serve as a framework for charity endeavors, educational efforts, and operational improvements related to these commitments.

Together with FIT, Bloomingdale's has created a new philanthropic initiative that will promote sustainability and the upcoming generation of creative industry leaders. The Bloomingdale's x FIT Sustainable Innovation Fund, which is at the center of the shift, will provide new facilities and resources to promote research, activities, and teaching and learning related to sustainability for students, professors, alumni, business partners, and the general public.

President of FIT Dr. Joyce F. Brown said that FIT is thrilled to be a part of this innovative program launched by Bloomingdale's. By collaborating with Bloomingdale's, FIT will further its steadfast, active, and highly visible commitment to sustainable innovation. Together with their leadership, they hope to show that sustainability is feasible for a sizable institution and ultimately serve as an example for other businesses. They understand that sustainability extends into allied fields like corporate social responsibility, ethics, and fair trade, just like Bloomingdale's does.

The Bloomingdale's x FIT Sustainable Innovation Fund will assist both partnering organizations in achieving their shared objectives to bring people from various sectors of the industry together through initiatives that spark fresh ideas and result in the creation of workable solutions. Its mission is to involve the fashion and retail communities in the development of sustainable projects.

The funds raised through this joint effort will help a number of commitment-driven projects, such as innovation laboratories, sustainable fashion shows, educational and mentoring initiatives, and more.