Adidas, in a bid to shod the world, says it will offer running shoes for $1 a pair throughout rural India.
The German manufacturer has grown from its roots making sneakers into one of the world’s largest producers of sporting apparel, and biggest sponsors of athletic teams and athletes.
Adidas hopes selling the world’s cheapest sneakers will help it establish a foothold with the aspirational poor. The “bottom of the pyramid” presents a largely untapped market estimated to be worth more than five billion dollars a day. Some 1.1 billion people live in India now, but growth rates mean it will likely surpass China’s population in the next decade.
Previously, Adidas sold $1 sneakers in Bangladesh. That project was canceled after the pilot phase, once the company determined that it would be unable to make a profit.