PHILADELPHIA (CBS) — How would you like to help others every time that you shop? Well several companies are using a new business model. Every time a customer buys their product the company makes a donation to a charity or group in need.
Heath launched Bombas in 2013. The company holds events like this one where they make breakfast for the homeless and give socks to people who need them. In less than 3 years Bombas gave away a million pairs of socks.
Heath modeled his buy-one give-one-away business on the success of Toms, which donates a pair of shoes for each one sold and Warby Parker, which does something similar with eye glasses.
In the past few years a growing number of companies have realized that doing good is good business.
"Being charitable is cool now. It's the new status symbol," says Nathan Coleman, CEO of Elephant Pants, a clothing company that donates 10 percent of profits to charities that help save elephants.
They're businesses on a mission to make money and a difference.