Thursday, November 24, 2011

Adidas launches $1 trainers in India...

The sports shoe firm adidas is to sell its trainers for less than a pound a pair throughout rural India to capitalise on the country's soaring population.

The German sports giant believes the rise of India's 1.1 billion population, which is expected to surpass China as the world's largest in the next decade, is an opportunity to persuade aspirational Indian villagers to trade their plastic chappals or flip-flops for one of the world's most iconic brands.

The idea was inspired by Mohammad Yunus, the Nobel Prize-winning founder of the Grameen microfinance bank in Bangladesh, but the company now believes his plan to sell the world's cheapest trainers has more chance of success in India.

The $1 trainers will be the latest in a growing trend which increasingly sees the world's poor as a potentially lucrative market rather than a begging bowl for aid. Full story...

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