From selling shoes out of the trunk of their car, Cabot and her husband grew Dansko into a business with more than $120 million in annual revenue and a full product line. In 2005 they were set to sell the company to Timberland for more than $100 million but pulled out at the last minute, instead implementing an employee stock ownership plan (ESOP). Dansko also became a B Corporation, submitting to a rigorous monitoring process that holds it to commitments like treating employees well, opening up corporate governance, relying on manufacturers with high labor standards, and minimizing Dansko’s impact on the environment. Cabot has no regrets.
Read the full article: Why Dansko’s Mandy Cabot Turned Down A $100m Offer From Timberland And Sold To Her Employees Instead
