Adidas Set To Launch $1 Shoe In India
The popular shoe and sports apparel company sees a self-funding distribution network in the high-volume market.
German sports apparel manufacturer Adidas is taking a bold step in bringing its shoes to the people of India, known for their high growth and sheer volume. Adidas CEO, Herbert Hainer, has recently announced that the company is slated to launch a shoe that costs one dollar a pair, or roughly 52 Indian rupees.
In an interview with German Sunday newspaper “Welt am Sonntag,” Hainer shared the upcoming venture, adding that mass production can potentially supply the growing Indian market. Hainer said: