According to the Financial Times, Toms has hired bankers to explore a sale. The L.A.-based ethical label could fetch as much as $600 million, sources told the newspaper.

The report said discussions are in the early stages and “no deal is certain.”

Best known for its canvas espadrilles, Toms has donated over 10 million pairs of shoes to children in need since being founded in 2006. Blake Mycoskie founded it with a promise of matching every pair of shoes purchased with a pair of new shoes given to a child in need. Since then, Toms has evolved from a shoe company to the “One for One” company, and recently expanded into sunglasses and Toms Roasting Co. coffee.

Toms issued the following statement to the media: “Our business has tremendous potential and we are committed to protecting and growing the One for One business model for generations to come.  As a part of pursuing the opportunities ahead, Toms' founder Blake Mycoskie is exploring potential investment partners that can help the company grow and expand even faster and accelerate its long-term growth plan.”