Toms

Toms is an American footwear brand founded in 2006 by Blake Mycoskie and known for its original One for One giving model. Creditors took over the company in December 2019.

What is Toms?

Toms sells shoes, eyewear, coffee, apparel and handbags. It was founded in 2006 by Blake Mycoskie and, according to Wikipedia, is based in Los Angeles, California.

The One for One model

Originally, each retail purchase provided a free pair of shoes to a child in need. The model later extended to other products: eyewear funded glasses and eye treatment, coffee funded water supplies and bags funded maternal health. In 2019 the company said it would stop the One for One model and instead fund impact grants. Shoes have been given to children in 70 countries.

Ownership

In December 2019, creditors Jefferies Financial Group, Nexus Capital Management and Brookfield Asset Management took over the company, and Mycoskie ceased to be an owner. The source provides no later ownership change, so none is stated and the group field is left blank.

Business model and distribution

Wikipedia reports that products are sold in more than 500 stores internationally, including Neiman Marcus, Nordstrom and Whole Foods Market, which indicates a wholesale-led model alongside e-commerce. The company has manufactured shoes in Kenya, India, Ethiopia and Haiti. No revenue figures are cited.

Why it matters

Toms is a widely discussed example of social-impact retail. Its move away from a strict one-for-one model, and its change of control after 2019, are often used in discussions about the limits of cause-led brand strategy.

Frequently asked questions

Who owns Toms?

Since December 2019, creditors Jefferies Financial Group, Nexus Capital Management and Brookfield Asset Management have taken over the company, and Mycoskie is no longer an owner. Later changes have not been verified.

Where is Toms from?

Toms is an American brand founded in 2006 by Blake Mycoskie and based in Los Angeles, California.

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