Entrepreneurial empowerment, particularly for the black-owned business based in the United States, is crucial to improving the community wealth and breach the gap between the white-black wealth gaps. Black Americans rarely enjoy the profits of owning a business. Surprisingly, only 5% of the black community owns a business or has business equity compared to 15% in white communities.
Some research studies show that there has been a historical lack of trust in black-American-owned companies, decelerating the growth and development of new business ventures. The gap in business ownership contributes to the black community’s lower prosperity levels. This makes it no surprise that most black-owned companies contribute lower revenues across the various industries. Such disparities also harm the US economy at large. If the black-owned companies contributed the same income as their counterparts, they would provide $200 billion in additional revenue to the economy every year.
On a mission to enhance and boost the growth of the black-owned companies, Greene Concepts Inc (OTC Pink: INKW), a beverage and bottling company, announced a joint venture partnership with Lucky Soul Inc. Lucky Soul Inc prides itself in its inspirational packaging and athletic infused wellness brands. They aim at offering inspiring wellness beverages and apparel brands from Los Angeles, California. Under this partnership, Greene concepts will work with Lucky Souls SOULTOX brand to produce and sell a line of artesian water in all SOULTOX distribution outlets. This artesian water is an entirely natural super antioxidant with a Ph of 10 and recovery water comprising a trademarked fulvic and Humic acid that boosts users’ immunity, speeds hydration, and improves the digestive system. They will bring out their artisan beverage visibility with the partnership by introducing it to a new market tied to the sports and entertainment industry. They look to capitalize on the same online, retail, and distribution markets for SOULTOX. Greene Concepts recently agreed with America’s Finest and Upstart Kombucha and its company’s water club to aid in the production, marketing, and selling of the Lucky Souls SOULTOX wellness beverage.
Making remarks on the joint venture partnership, Vinnie Merrill, the CEO of Lucky Soul and the Chief Soul officer at SOULTOX, stated that they are happy to partner with Lenny Greene and Greene Concepts. He affirmed that they are extremely overwhelmed by the positive market response after launching the SOULTOX brand. He added that this venture would make significant strides in consumer health alertness and help fight diabetes in the United States, where the love for the unhealthy is high.
The market has few or no black-owned brands on the shelves of country-wide retailers, making it difficult for their new emerging brand in this very competitive space. The two Products, SOULTOX and Greene, stand out in the fight for racial equality and representation in the world of beverages. Lucky Soul announced that they would donate a percentage of their SOULTOX sales proceeds to elevate the less fortunate among the black community. They inspire people to strive for a healthier body and soul with their brand.