The company is allowing itself more flexibility with how and where it gives back as it engages a new generation of more informed consumers.
Author:Dhani MauUpdated:Nov 20, 2019Original:Nov 20, 2019When Blake Mycoskie launched Toms shoes out of his Venice Beach apartment in 2006, the company's one-for-one giving model was both revolutionary and extremely easy for consumers to understand: Buy a pair of shoes and a child in a developing country gets a pair of shoes.
According to Toms's Chief Giving Officer Amy Smith, the shift away from one for one is about ensuring the company can have the biggest impact possible, and show its customers that. "The consumer is more savvy than ever; they're more engaged than ever; they're voting with their wallets," she tells me ahead of the announcement.
Given how synonymous Toms had become with one for one, Smith says it was "scary" to have the first conversations about changing it, but she feels that consumers are now savvy enough to understand a more complex giving model.
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