Adidas to sell $1 shoe in rural India; incurs losses in test phase
Adidas, known for is exorbitantly priced sporting equipment seem s to have a change of heart lately, and is attempting to slip a shoe onto every Indian’s feet with a newly unveiled $1 shoe. Planned for distribution in Indian villages, Adidas is looking to have this shoe self-funded. Currently, the brand sold 5,000 of these pairs in a test phase, though incurred losses in the bargain, spending $3 to make a pair and another $3.5 to import it all. Well Adidas, we’ve got news for you! These shoes, costing roughly about Rs. 52 do seem to be a pretty neat steal, though not too many village folk in India would probably prefer shiny white sneakers while working in farms, one of the main occupations in rural India! A pair of boots would do pretty well though.