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
NEXT ON NEWS24X

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

 
 

DA wants to empower fishing communities - Zille

DA leader Helen Zille says the party has a plan for harbours and small-scale fishing communities.

 
 

Latest elections multimedia

Why Jack Parow wants you to vote on 7 May
The ad the SABC doesn't want to air
Elections 2014 in one cartoon
This year's election posters
 
Traffic
Lottery
 
  • Friday Grabouw - 11:32 AM
    Road name: N2 Eastbound
    DELAYS between Sir Lowrys Pass and Grabouw
  • Friday Cape Town - 10:14 AM
    Road name: M3 Inbound
    EVENT - left lane closed between Rhodes Avenue and UCT
 
More traffic reports...
 

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Escape winter, head to Mauritius

Escape winter by spending 7 nights in Mauritius' tropical bliss from R13 215 per person sharing. Includes return flights, airport transfers and accommodation. Book now!

Kalahari.com - shop online today

Get many eggs in one basket!

Gaming bundles: 2 Super Hits games for R99, 3 Disney games for R99 and more + exclusive accessory bundles only available on kalahari.com. While stocks last. Shop now!

25% off bestselling books!

The Real Meal Revolution by Tim Noakes, Jeffrey Archer’s Be Careful What You Wish for, Man’s Search for Meaning by Victor E. Frank and many more titles. Shop now!

Up to 25% off electronics

Buy top electronics and save up to 25%. Such as kalahari.com’s 1# selling product the gobii eReader, Patriot X Porter flash drive, Asus Nexus 7” 3G tablet, Samsung Galaxy SIII, Lenovo G580 Notebook and many more. Shop now!

DStv HD PVR Decoder now R949

The DStv HD PVR Decoder has further revolutionised the television experience with lifelike viewing, sharper images, more vibrant colours and precision picture quality. Now R949, save R550. Offer valid while stocks last. Shop now!

Up to 30% off appliances & homeware

Save up to 30% on appliances and homeware this Easter! Offer valid while stocks last. 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

Nokia Lumia 800

The stunningly social Nokia Lumia 800 features head-turning design, ...

From R2395.00

I'm shopping for:

Horoscopes
Aquarius
Aquarius

You may find yourself putting in that extra effort on looking good and making an impression. ...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.