Vans Inc. said Monday it has joined the growing roster of marketers using their spending power to push Facebook Inc. (Nasdaq: FB) to do more as it relates to the spread of hate speech via its platforms.
Facebook, which closed up 2% on Monday to a market cap of $629 billion, owns its namesake social media site in addition to Instagram.
The Anti-Defamation League and NAACP launched the campaign, which has earned the support of a number of big name advertisers, including Unilever, Coca-Cola, Starbucks, Ford and Honda.
Vans confirmed it is redirecting the money it typically spent on Facebook and Instagram advertising in July to initiatives supporting Black communities.
Window displays at the company’s U.S. and Canada stores are also being used to call awareness to the movement.
“We remain committed to our responsibility to do more in the fight against racial inequality,” said Vans Vice President of Global Integrated Marketing Nick Street in a statement. “Our decision to join the #StopHateForProfit campaign demonstrates just one of the ways we are working diligently, thoughtfully and continuously to becoming anti-racist in everything we do.”
