Social do-gooder and top shoe retail brand, Toms has partnered with Boston-based capital investment house, Bain Capital. The eight year-strong startup company has been active with third world countries and have achieved some remarkable things.
The press release from retail owner, Mycoskie has accepted the partnership under the terms he gives up 50% of his company while he retained the remaining 50%.
That’s a huge percentage to give up, especially in such an expanding company. Ludacris.
Toms has taken foot and eyewear to exciting places, using their one for one scheme to give something to the charitable arenas. If you are unfamiliar with the concept, for every pair of Toms footwear or pair of glasses you buy, the company will also send a pair to third world countries. I don’t think they have ever told the public whether or not they replicate your order to send out, but we’ll take their word for it.
The partnered investment amount has not yet been stipulated, we’ll take a stab at it being well into the six figure category. Almost definitely will we be seeing major growth from this potential retail giant.