The easiest and most simple comparison for Bangs would be TOMS shoes. But that wouldn't be quite fair. This isn't simply a one-for-one model. A portion of the net profits (20% to be exact) from each pair of shoes sold from this social business goes toward a non-profit organization, which is their partner.
But not just any non-profit organization. There's an element of cause customization, if you will, involved in the business model. The issues coordinate to the color of the shoe. Red is for disaster aid; blue is for clean water; khaki is for development; and green is for development.
Contact Information
Bangs website
Bangs on Facebook
Bangs on Twitter
Bangs on YouTube
Key Themes Behind This Trend
- Cause Customization
- Disruptive innovation opportunity: Creating products or services where consumers can customize their involvement in a cause based on their preferences.
- Social Business
- Disruptive innovation opportunity: Developing business models that incorporate a social mission and allocate a portion of profits to non-profit organizations.
- Color Coordination
- Disruptive innovation opportunity: Linking different colors of products to specific social or environmental issues, allowing consumers to visually support a cause.
Where This Applies
- Apparel and Footwear
- Disruptive innovation opportunity: Revolutionizing the apparel and footwear industry by integrating social responsibility into product offerings and profit allocation.
- Non-profit
- Disruptive innovation opportunity: Partnering with social businesses to create unique fundraising opportunities and engage consumers in supporting specific causes.
- Social Impact
- Disruptive innovation opportunity: Exploring ways to increase social impact by aligning product attributes, such as colors, with relevant social or environmental issues.
