Adidas has reached an agreement to make €1 sneakers for millions of people around the world who cannot afford to buy shoes, with pilot production to begin next year in Bangladesh. The move, according to the Daily Telegraphy, was inspired by Bangladesh's Nobel prize winner, Muhammad Yunus.
Yunus is the pioneer of micro-loans which help the poor start their own businesses. Adidas has agreed it will produce shoes in Bangladesh on a non-profit basis, although a spokesman stressed the final price may be higher than the €1 target.
Jan Runau, an Adidas spokesman, confirmed an agreement had been signed to begin production of the shoes in Bangladesh next year but said the project was at an early stage. It had not yet been decided whether the shoes would carry the Adidas brand or its trademark three stripes design. “It is correct that Adidas Group in conjunction with Muhammad Yunus aims to put such shoes on the market,” he said.
Key decisions on design and branding have yet to be finalized, he said.
