Toms is a for-profit company based in Los Angeles, California. Founded in 2006 by Blake Mycoskie, an entrepreneur from Arlington, Texas, the company designs and markets shoes as well as eyewear, coffee, apparel and handbags. In 2006, TOMS founder Blake Mycoskie pioneered the One for One® model—giving away one pair of shoes for every pair sold, supporting larger health, education and community development programs through strategic partnerships.The company soared in 2012 with practically everyone owning a pair of their shoes.
Unfortunately, as times changed, people began to buy less of TOMS. The shoes were not long-lasting and customers stopped wanting to give debatably-fashionable, moderate-quality shoes to people in need. In recent years, the brand moved away from its buy-one, give-one model.
At the moment, it feels like TOMS is still struggling to find its footing in the current market. One indication of this is the fact that it donated 15% less to its partners in 2022 than it did in 2021. But, the decline is unlikely due to its donation model and is more likely to be a result of its offerings.
This blog will keep you updated on how this company's performance relates to strategic management.
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