Saturday, 27 July 2013

Cole + Parker | Socks That Start Businesses

Up your sock game and help start a business at the same time, with socks by Cole+Parker. These bold, creative, intentionally designed, premium quality socks will help you stand out from the crowd and change the lives of aspiring entrepreneurs around the world.

Cole+Parker is a team of entrepreneurs who came together to create a business that would help support entrepreneurs both locally and globally, as well as creating amazing socks. 

Jeff was pumped about micro-finance and seeding start ups in developing countries. He had been to Columbia and heard pitches from trust groups and saw the pride in entrepreneurs who sustained themselves from receiving micro-loans. He also likes socks. A lot. Diana knew three things: She liked Jeff’s socks, she loved to hustle and market great products and she also wanted to support entrepreneurship in North America and abroad in any way she could.

After teaming up with a world class designer and a sock expert, with over ten years of product development experience, and also looked to pioneers for building socially responsible businesses. They came up with the "One For Many" business model. 

Sale proceeds are loaned through their partner Kiva (a non-profit organization) to fund entrepreneurs in the developing world. Once a loan is payed back they use those funds to fund another entrepreneur, thus creating a revolving loan effect. 

20% of the proceeds from each purchase is donated to support entrepreneurs in poverty and of their donations, 80% goes directly to fund entrepreneurs who normally wouldn't be given the opportunity to start a business, thus changing their life path. Micro finance has proven to help sustain communities in a dignified way. An amazing 99% of all loans through Kiva are repaid. 

Cole+Parker's goal is to support as many entrepreneurs around the world as possible.

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