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Footwear brand Toms explores sale options

Footwear brand Toms is speaking to investors about a potential sale in order to accelerate the international growth of the label.

Toms founder Blake Mycoskie is believed to have hired an unnamed bank to work on the sale.

Industry sources have suggested the company could fetch up to £358m, according to the Financial Times. Toms, which is stocked in footwear multiples such as Schuh and Office, had a turnover of $250m (£149m) in 2013, with 30% of sales coming from its website.

Since its launch in 2006, the LA-based company has donated more than 10 million pairs of shoes to children in 59 developing countries.

The philanthropic label, which donates a pair of shoes to developing countries for every pair its sells, said it was “committed to protecting the longevity of the One for One business model” but confirmed it was exploring options to grow through strategic investments and global expansion.”

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