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.
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.
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."
What began as a simple idea has evolved into a powerful business model that helps address need and advance health, education and economic opportunity for children and their communities around the world. Supporting TOMS Shoes is also a compassionate display of support for helping children get some of the basics they need to enjoy better and healthier lives. Whether it's a pair of TOMS booties, shoes or sandals, you're helping to make a difference in the world.
Toms' business model is known as the "one for all concept" model, which is referring to the company's promise to deliver a pair of free shoes to a child in need for every sale of their retail product. The countries involved have included Argentina, Ethiopia, Guatemala, Haiti, Mexico, Rwanda, South Africa and the United States. The business has grown beyond producing shoes and has included eyewear and apparel in Toms product lines. The company uses word-of-mouth advocacy for much of its sales, centering its business focus on corporate social responsibility. Part of this model originally involved a non-profit arm called "Friends of Toms" that recruited volunteers to help in the shoe distributions in foreign countries. Toms trademarked the phrase "One for One" to describe its own business model. Toms has received criticism from the international development community  who have stated that Toms' model is designed to make consumers feel good rather than addressing the underlying causes of poverty. Criticisms have also included whether or not the shoe donation is as effective as a monetary donation to other charities. Toms responded to this criticism by moving 40% of its supply chain for shoe donation to countries they actively give in. Toms presently manufactures shoes in Kenya, India, Ethiopia and Haiti.