Author Daniel H. Pink described the company's business model as "expressly built for purpose maximization," whereby Toms is selling both shoes and its ideal. Toms' consumer market are purchasing shoes and also making a purchase that transforms them into benefactors for the company. Another phrase used to try to describe the business model has been "caring capitalism". Part of how Toms has developed this description is by incorporating the giving into its business model before it made a profit, making it as integral to the business model as its revenue generating aspects. Business tycoon and Virgin Group founder Richard Branson wrote of the company's business model in his book Screw Business as Usual, "They look for communities that will benefit most from Toms based on their economic, health and education needs while taking into account local business so as not to create a correlating negative effect." He also commented on Toms' expansion into eyewear in order to help the nearly 300 million people who are visually impaired in developing nations.
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 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.
Shoes have been given to children in 70 countries worldwide, including the United States, Argentina, Ethiopia, Rwanda, Swaziland, Guatemala, Haiti and South Africa. Toms are sold at more than 500 stores nationwide and internationally, including Neiman Marcus, Nordstrom, and Whole Foods Market, which include shoes made from recycled materials.
The company's shoe distribution partners have focused on distributing shoes in areas where health and social benefits of the shoes would be the highest. For example, in Ethiopia the shoes are intended to help prevent a soil-borne disease that attacks the lymphatic system and which largely affected women and children. Toms sunglasses are sold with the One for One model, however it does not necessarily provide glasses only to those in developing countries. The One for One model includes putting money toward medical treatment, eye surgeries and prescription glasses. Toms works with the Seva Foundation among other partners to accomplish this. The first countries that Toms implemented its program were Nepal, Cambodia and Tibet. The original three designs, according to Leigh Grogan, were "The stripe on the temples represents the buyer; the stripe on the tips represents the person whose sight is being helped, and the middle stripe represents Toms, which brings the two together."
Triple Seven Limo also provides corporate transportation services, chauffeur SUV and car service from Brick New Jersey to Atlantic City and NYC, chauffeur car and SUV service from Toms River New Jersey to NYC and Atlantic City and luxury transportation services for weddings, concerts, sporting events, city tours, executive transportation and much, much more.
We believe in a better tomorrow. And we have from the start. Our company began back in 2006 in a Venice, CA apartment with one goal in mind: to give shoes to kids in need. Since then, your purchases have helped provide shoes, sight, and safe water to millions of people around the globe. And with 10 locations across the country, including our new Brooklyn space, there’s even more opportunity locally to make an impact globally.
A story by LA Weekly priced the manufacturing cost of a pair of Toms Shoes at $3.50-$5.00 in U.S. dollars, and noted that the children's shoes given out by the company were among the cheapest to make, which is not necessarily apparent to consumers. According to garment-industry author Kelsey Timmerman, many people he spoke to in Ethiopia were critical of the company, saying that they felt it exploited the idea of Ethiopian poverty as a marketing tool. An Argentina-based shoemaker agreed, saying that the imagery used by the company was manipulative.