Adidas to launch $1 shoe in India

2011-11-19 22:11

kalahari.com

Berlin - Adidas, the German sportswear and equipment maker, is to launch a shoe costing $1 a pair in India, boss Herbert Hainer said, despite the failure of a similar venture in Bangladesh.

He told the Sunday newspaper Die Welt am Sonntag that unlike in Bangladesh mass production would be possible to supply the growing Indian market.

"The shoe will be sold in villages through a distribution network," Hainer said, adding, "We want the product to be self-funding."

He gave no indication of when or where it would be launched.

Adidas had announced plans to sell a $1 shoe in Bangladesh last year, but Hainer said it had not worked as expected.

"We sold 5 000 pairs during a test phase but we made only losses," he said. "The shoes cost us $3 to make and we had to pay $3.50 in import duty."

Earlier this month Adidas said it was raising its full-year earnings targets after a stronger-than-expected third quarter and first nine months.

It was now pencilling in sales growth of close to 12% instead of 10% previously, while earnings per share were projected to rise by nearly 16%.

"Our brands and products are resonating with consumers around the world like never before," Hainer boasted on November 3.

Read more on:    adidas  |  india
SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
6 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
/Fashion
 

Tips on how to set your fitness goals

Before you embark on a fitness or training programme, set yourself clear and realistic long-term and short-term goals.

 
 

Where were you when you last felt alive?

This all-terrain vehicle is badass!
The TRUTH about painkillers and exercise
WIN! Where were you when you last felt alive?
Watch: Fishing under ice

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

Deal of the week!

Save R1200 on the Samsung 48” smart full HD LED television now only R8799. Buy now!

Toys 4 for the price of 3

Buy 4 toys and get the cheapest FREE! Offer valid while stocks last. Shop now!

Mind blowing prices – As seen on TV

Get mind blowing prices on 1000’s of products! Shop now.

Save 20% on Nivea beauty products!

Buy any two Nivea beauty products and save 20%. Offer valid while stocks last. Shop now!

Save up to R1000 on electronics!

Get mind blowing savings on top electronic products. Shop now.

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Horoscopes
Aquarius
Aquarius

You may be spending too much time organising and trying to control things to make sure everything is perfect instead of just...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.