TOMS Enters Coffee Biz
Blake Mycoskie, founder of TOMS, just revealed his intention to stretch the brand name to the coffee industry. The new company, Toms Roasting Co., will continue the precedent set by the shoe brand with its one-for-one model where each product purchased equals one donated to a worthy cause. In this case, the brand will donate clean drinking water for every cup sold in its future coffeehouses.
Mycoskie first mentioned the possibility of entering this new industry during an interview with Footwear News in December: “Food is difficult. It’s a totally new business. I never say never, though. It’s a difficult area because it would require having an amazing partner or require us to hire a whole bunch of new people — very different people than a footwear designer.”