In June 2014, the company announced that Mycoskie was looking to sell part of his stake in the company to help it grow faster and meet its long-term goals. On August 20, 2014 Bain Capital acquired 50% of Toms. Reuters reported that the transaction valued the company at $625 million; Mycoskie's personal wealth following the deal was reported at $300 million. Mycoskie retained 50% ownership of Toms, as well as his role as "Chief Shoe Giver". Mycoskie said he would use half of the proceeds from the sale to start a new fund to support socially minded entrepreneurship, and Bain would match his investment and continue the company's one-for-one policy.
Mycoskie sold his online driver education company for $500,000 to finance Toms shoes. The company name is derived from the word "tomorrow", and evolved from the original concept, "Shoes for Tomorrow Project". Mycoskie initially commissioned Argentine shoe manufacturers to make 250 pairs of shoes. Sales officially began in May 2006. After an article ran in the Los Angeles Times, the company received order requests for nine times the available stock online, and 10,000 pairs were sold in the first year. The first batch of 10,000 free shoes were distributed in October 2006 to Argentine children.
In 2009 Toms partnered with the Charlize Theron Africa Outreach Project to create limited edition shoes, and used profits to benefit education and medical support in remote areas of Africa suffering from AIDS outbreaks. Toms has also produced shoes with a handlebar mustache symbol in place of the traditional Toms symbol in support of the Movember Foundation. Toms is a supporter of the charity charity: water, with which it has partnered with for several years, including its WaterForward project, which aims to bring clean water to underdeveloped countries. An additional partner charity is FEED, a charity where a consumer will purchase a pair of shoes and the company will donate twelve meals to impoverished schools in addition to a pair of shoes for impoverished children.
Skechers retail stores have all the Skechers styles and collections! You'll find the latest innovative Skechers Performance shoes including the popular Skechers GOrun and Skechers GOwalk lines. Our casual offerings include trend-right sneakers, dress shoes, sandals and boots for men and women. And there's countless fun shoes for kids from infants and toddlers to preschool and grade school sizes. It's all at the Skechers retail store-your best option in New Jersey shoe store shopping.
Our casual offerings include trend-right sneakers, dress shoes, sandals, and boots for men and women. And there are countless fun shoes for kids, from infants and toddlers, to preschool and grade school sizes. You'll also find the latest innovative Skechers Performance shoes, including the popular Skechers GOrun and Skechers GOwalk lines. Find all this and more at the SKECHERS retail store - your best option for shoe shopping in New Jersey.