TOMS Enters Coffee Business: 'Coffee for You, Water for All'
The CEO of TOMS--the "one for one" canvas shoe company that donates a pair of shoes to someone in need for every sale--announced on Tuesday that the company will expand into the coffee business. The same business model will be used with coffee, except TOMS will be donating clean water for a day for every cup. The company is working with countries that produce beans, including Guatemala, Malawi, Peru, Rwanda and Honduras. CEO Blake Mycroskie says it's all about stimulating the the economy in the places they are giving. Part of the process will also involve teaching agricultural skills to coffee farmers so that they produce a higher yield on the crop. TOMS coffee tagline will be: "Coffee for you, water for all."
By Jordan Moses
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