11 Jun Financial Times Reports Toms May Be Up For Sale
According to the Financial Times, Toms has hired bankers to explore a sale of the company. The report said Toms could fetch as much as $600 million.
Toms, founded in 2006, had revenue of $250 million last year, according to the report. The report said discussions are at early stages and “no deal is certain.”
The Financial Times report is here.
In 2006, Toms founder Blake Mycoskie befriended children in a village in Argentina and found they had no shoes to protect their feet. Wanting to help, he created Toms, a company that would match every pair of shoes purchased with a pair of new shoes given to a child in need. One for One. Since then, Toms has evolved from a shoe company to the One for One company, and recently expanded into eyewear