PepsiCo, Inc. (NASDAQ: PEP) today announced the launch of Jefa-Owned (owned by a Latina Boss), a national visibility campaign powered by the Juntos Crecemos (Together We Grow) platform, to encourage more Latina-owned, food and beverage small businesses to apply for the personalized business building support services.
To mark the launch, PepsiCo leaders joined Latina business owners for the Nasdaq Opening Bell Ceremony, where they unveiled the first-ever Jefa-Owned neon sign, designed by PepsiCo, as well as limited-edition merchandise honoring businesses owned by a Latina boss designed in collaboration with Hija de tu Madre, a lifestyle brand founded by Latina entrepreneur Patty Delgado, who also established March 31 as National Jefa Day.
As part of its Racial Equality Journey Hispanic Initiative, PepsiCo launched the multi-faceted Juntos Crecemos platform last fall aimed at strengthening Hispanic-owned businesses, specifically restaurants, bodegas and carnicerías (meat markets), to address foundational business challenges, and support business growth.
According to the 2020 State of Latinos Entrepreneurship Report, Latinas (women) represent 40% of all Latino-owned businesses (men and women), with 41% of Latina business owners reporting “large negative impacts” as a result of the pandemic. Furthermore, twice as many Latina-led companies experience closure compared to Latino-led (male only) businesses.
The Vice-President of PepsiCo’s Hispanic Business Unit, North America, Esperanza Teasdale, said, “Despite this accelerated growth rate, Latinas are confronting foundational challenges which must be addressed.”
PEP shares began Tuesday up $2.46, or 1.5%, to $168.19.