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Adidas could make €1 shoes

13/11/2009
Sports footwear brand adidas has announced that it will produce a low-cost footwear collection for the domestic market in Bangladesh. The company said the project would be in collaboration with Muhammad Yunus, winner of the Nobel Peace Prize in 2006 and founder of the Grameen Bank, which aims to encourage economic development among ordinary people, especially women, in the developing world.

News agency AFP said adidas would launch the project in 2010, but had not decided on the exact date or the price the shoes would cost. It said its aim was to provide an affordable shoe that would give people in poor communities protection against often dangerous foot infections.

The agency said German media had speculated that it might be possible for adidas to make the shoes available for less than €1 per pair.

Dr Yunus spent a week in Germany in mid-November to talk to a group of multinational companies about his concept of Social Business, in which companies work to achieve social objectives rather than to create wealth for investors.

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