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.[23] 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.[2] 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.[24][25]
The major mission of Toms is that a business, rather than a charity, would help their impact last longer. In his speech at the Second Annual Clinton Global Initiative[58] Mycoskie states that his initial motivation was a disease called podoconiosis—a debilitating and disfiguring disease which causes one's feet to swell along with many other health implications. Also known as "Mossy Foot", podoconiosis is a form of elephantiasis that affects the lymphatic system of the lower legs. The disease is a soil-transmitted disease caused by walking in silica-rich soil.[59] Toms currently works with factories nearby where they perform some of their shoe drops.[60]
On Monday night, we hosted an energizing and emotional rally in Washington, DC as we prepared to hand-deliver 700,000+ postcards to Congress the next morning. One of the most impactful moments of the evening was when Change the Ref created a live art piece using the words his son Joaquin sent to Congress 5 years before he was shot and killed in Parkland in 2018. We were also joined by @vicmensa, @cleowade, MILCK, and our dedicated partners, each using their own unique voice to put out the call to #endgunviolencetogether. Black and Brown Gun Violence Prevention Consortium @everytown Faith in Action Giffords Live Free @marchforourlives @momsdemand #YRK #naomiwadler @ Union Market DC
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.[47]
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