TOMS CEO Blake Mycoskie took the stage at the South by Southwest Festival last week to make a big announcement. The man behind the company that has pioneered the one-for-one model through its sale of shoes revealed the company’s new venture: coffee.
The sky blue label with a white stripe, a nod to the flag of Argentina, where the design for TOMS shoes were discovered, will now adorn bags of coffee in the company’s expanding stores and neighborhood Whole Foods. Money from each bag or cup sold will help bring clean water to more people in the world. Or as the tagline says: ”Coffee for you, Water for all.”
The coffee itself aims for the middle of the market, something that is better than Starbucks, but not quite at the high end of Counter Culture and Stumptown. Mycoskie and TOMS got a fair share of attention for the new business. He revealed that TOMS will continue to add new ventures each year to extend the organization’s impact and grow the overall business.
The coffee comes from Guatemala, Honduras, Malawi, Peru, and Rwanda and will sell for $13 per twelve ounce bag. TOMS says a bag of coffee will deliver clean water for one person for a week. That comes thanks to a partnership with the Denver-based Water for People. A yet-undisclosed amount of money made from the sale of TOMS coffee will be given to Water for People for its work in the same countries where the coffee originates.
“We have this philanthropic and aid problem where we have long term issues to deal with and the grant cycle does not match,” said Water for People CEO Ned Breslin to Humanosphere. ”We have been looking for ways out of that funding cycle.”