Adidas to launch $1 shoe in India

  • ANI, Berlin
  • |
  • Updated: Nov 20, 2011 15:46 IST

German sportswear and equipment maker Adidas is planning to launch a shoe costing one dollar a pair, that would be sold in Indian villages through a distribution network.

“The shoe will be sold in villages through a distribution network. We want the product to be self-funding,” News 24 quoted the company’s boss Herbert Hainer, as saying.

The company is planning to sell shoes in the Indian market despite the failure of a similar venture in Bangladesh.

“We sold 5,000 pairs during a test phase but we made only losses. The shoes cost us 3-dollars to make and we had to pay $3.50 in import duty,” Hainer told the Sunday newspaper Die Welt am Sonntag.

He added that unlike in Bangladesh, mass production would be possible to supply the growing Indian market.

 

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