Adidas, the German sportswear and equipment maker, is all set to launch a shoe costing one dollar a pair in India, boss Herbert Hainer said.
Seems like Adidas is here for a mission. Despite their failed attempt in Bangladesh which saw the company suffer losses, Adidas has focused itself on India.
“The shoe will be sold in villages through a distribution network,” Hainer said, adding, “We want the product to be self-funding.”
“We sold 5,000 pairs during a test phase [ Bangladesh ] but we made only losses,” he said. “The shoes cost us three dollars to make and we had to pay USD 3.50 in import duty.”
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