According to The Financial Times, TOMS is being put up for sale, and could fetch as much as 600 million dollars. The L.A.-based ethical label has donated over 10 million pairs of shoes to children in need over the course of eight years in business. TOMS is best known for its canvas shoes, but has expanded in recent years to sunglasses and TOMS Roasting Co. coffee. The Financial Times’ source reports that the company is now enlisting bankers to work on the sale.
Update: TOMS has responded with the following comment: “Our business has tremendous potential and we are committed to protecting and growing the One for One business model for generations to come. As a part of pursuing the opportunities ahead, TOMS’ founder Blake Mycoskie is exploring potential investment partners that can help the company grow and expand even faster and accelerate its long-term growth plan.”
