Adidas is planning to sell 1€ sneakers in Third Word countries, building on the trend of dramatically cost-reduced products such as $100 laptops and $1000 cars in India.
Jan Runau, a rep for the Adidas Group, said it hasn't been made official that the shoe will only cost one euro, but did say they are collaborating to create cost-reduced footwear with Bangladeshi banker and economist, Muhammad Yunus.
Yunus is highly involved with micro credits for the poor and is committed to helping them establish and build their own businesses, and will now use his passion to help with the Adidas partnership.
"No one has to walk without shoes," Yunus said in Berlin last week.
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Muhammad Yunus Collaborates With Adidas Third World Project
By: Holger Mohr - Published: Nov 17, 2009 • References: faz.net