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TOMS shoes walks the CSR walk
We’ve written many times in this space about the need to link corporate social responsibility (CSR) with business objectives and vice versa.
Now there is an interesting little (not so little anymore, really) shoe company that is moving CSR to a new and exciting level. Instead of making CSR an important part of its business model, TOMS Shoes is making CSR the business model itself.
An entrepreneurial brainchild of Blake Mycoskie, TOMS Shoes may have just perfected a new discipline many are calling “philanthropic capitalism.”
Mycoskie’s business model is simplicity itself. For every pair of shoes the company sells, it gives a pair away to a needy child, period. No rebates. No coupons. You by a pair of TOMS shoes and a kid, probably a world away, gets a new pair of shoes for free. These kids and the company’s decision to donate shoes in this manner together are the reason Mycoskie’s business is growing.
This a great example of how CSR can drive business. Others are sure to follow. As in all burgeoning categories or segments, those who get there first will benefit the most. Stay tuned.
One Response to “TOMS shoes walks the CSR walk”
Thank you for linking to my article on TOMS Shoes. Isn't it a great company?
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