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January 2012

Reebok working on $ 1 shoe

By Raman Jokhakar, Tarunkumar Singhal
Chartered Accountants
Reading Time 1 mins
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After low-cost airlines and vehicles, it’s now time for low-cost footwear. Sportswear maker Reebok is working on a project that could lead to the introduction of a shoe that is priced at $1, or around Rs.50. Reebok International, which is in the process of rolling out the project, said it will soon test the technical feasibility of ‘producing a durable, functional and affordable shoe’ before launching it in India.

In 2008, Herbert Hainer, CEO Adidas Group, which consists of the brand Reebok, had begun discussions with Grameen Bank founder Muhammad Yunus. This was followed by the development, marketing and distribution of low-cost footwear in Bangladesh in the form of a social business, which the Adidas Group expressed interest in.

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