BANGS shoes, getting its name from the Mandarin word help, is a shoe company who dedicates 20% of their profit toward helping entrepreneurs around the world. In 2010, recent college grad Hannah Davis had the idea to take the simple work boots worn by farmers in China where she was teaching English, and market them to the western world in the hopes that she could then invest into other entrepreneurs from the profits. Initially hitting roadblocks with contracts and manufacturing falling through, Davis would eventually hit a stroke of “luck” when she unknowingly met a retired manufacturing executive while working as a bartender. Rightfully a bit skeptical when this man asked question after question about her business plan, she would later discover who he was and partner with him to sign a deal and finally see her idea become a reality.
Now a thriving company, BANGS has helped countless entrepreneurs in countries all around the world. “We have cultivated a company culture and community united around everyday adventure, positivity, encouragement, and a passion to do good.” Starting an ambassador program has grown this community exponentially with hundreds of students from universities partnering with BANGS in just the first two years of the program. BANGS has helped over 5,000 entrepreneurs in 74 countries. Having a 96% loan repayment, BANGS is able to reinvest the money into more and more entrepreneurs as their and other’s businesses thrive and grow.
This is a great article! I really like this idea and how Hannah is wanting to give back to the entrepreneurial community. This is very simple to the initiative of the company Toms, but instead of helping impoverished companies, she is basically helping her competitors. It is really cool how she accepted failure, learned from it and when the opportunity for her company to take off came about she was ready!