Question: In a 2 0 1 7 interview with Robin Roberts of ABC News, Bombas socks ( Figure 1 3 . 8 ) co - founder
In a interview with Robin Roberts of ABC News, Bombas socks Figure cofounder David Heath said: Back in I came across a quote on Facebook that said...that socks were the number one most requested clothing item in homeless shelters. So he decided to start a new company that was an overnight success, boosted by an appearance on Shark Tank in He created his company, Bombas, with cofounding entrepreneur Randy Goldberg. They founded their company with the goal of giving back to the community by donating socks to the homeless, with its actual product idea as a secondary goal. They have donated over million items through more than partners across the country.
Bombas is now a successful sock company that uses a business entity as a way to address the shortage of sock donations in homeless shelters. Heath and Goldberg spent two years inventing pairs of highquality socks with extras such as reinforced foot beds and antiblister tabs coupled with contoured seaming. For these entrepreneurs though, it was not just about sock technology, it was about doing something meaningful at the same timea combination of profit and nonprofit goals. Therefore, they made a commitment to those in need, and since the company has donated more than million pairs of socks to homeless shelters, due to their buy one, give one model of marketing socks. The socks that Bombas donates to the homeless are not cheap throwaway token socks. Rather, they have been designed for their homeless wearers, for example, with antimicrobial treatment to prevent bacteria if they cannot be washed as frequently and reinforced seams for durability, since the homeless do not have the money to keep buying new ones. In essence, the company makes customers, and the company partners with the homeless.
Is Bombas really paying for this project to help the homeless or is the customer?
Is Bombas just facilitating the good idea and customers are paying for it or do you think Bombas is also contributing some of its profit?
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