Five years later, TOMS realized this movement could serve other basic needs and launched TOMS Eyewear. With every pair purchased, TOMS will help give sight to a person in need. One for One®. As we learn that everyday choices have the power to impact the lives of those around the world, the TOMS movement will continue to grow and evolve. With every backpack you purchase, TOMS will help stop bullying, one youth at a time. One for One®. Join us at TOMS.com.
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.
Employees of TOMS travel to different countries on "Giving Trips" to deliver shoes to children in person. In 2006, Toms distributed 10,000 pairs of shoes in Argentina. In November 2007, the company distributed 50,000 pairs of shoes to children in South Africa. As of April 2009, Toms had distributed 140,000 pairs of shoes to children in Argentina, Ethiopia, South Africa as well as children in the United States. As of 2012, Toms has given away over one million pairs of shoes in 40 countries.
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.
Blake Mycoskie visited Argentina in 2002 while competing in the second season of The Amazing Race with his sister. He returned on vacation in January 2006, and noticed that the local polo players were wearing alpargatas, a simple canvas slip-on shoe that he began to wear himself and which are the model for the original line of Toms Shoes. They are made from canvas or cotton fabric with rope soles, but Toms makes theirs with rubber soles. Mycoskie said that when he was doing volunteer work in the outskirts of Buenos Aires, he noticed that many of the children were running through the streets with no shoes on. He decided to develop a type of alpargata for the North American market, with the goal to provide a new pair of shoes free of charge to youth of Argentina and other developing nations for every pair sold. According to Mycoskie, Bill Gates encouraged him by saying that the lack of shoes was a major contributor to diseases in 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.
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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.