Adidas plans cheaper versions of popular shoes
- By Reuters -
- May 18, 2024
Adidas is launching cheaper versions of its three-striped shoes like the white and black suede Samba as it aims to spread the trend, CEO Bjorn Gulden said on Thursday at the company’s annual shareholders’ meeting in Germany.
“It’s important to understand that not everyone can afford to buy a shoe for 120 or 150 [dollars], but everyone wants to take part in the same trends,” Gulden told investors in a presentation in Furth, near Adidas’ headquarters in Herzogenaurach.
Adidas will offer similar versions of the Samba and other shoes for $60 to $80, more affordable entry points than the $100 to $150 price tag for the main shoe lines, according to a presentation slide shown by Gulden.
“What we do at the top, 100 [dollars] and higher, we’re bringing that down,” Gulden said. The cheaper models are aimed at retailers like Deichmann and Intersport, he added.
About Adidas
Adidas is a German multinational corporation that designs and manufactures sports shoes, clothing, and accessories. The company was founded in 1949 by Adolf Dassler, following a split with his brother Rudolf who went on to start Puma, another prominent sports brand.
Adidas is known for its iconic three-stripe logo and has become synonymous with high-quality athletic footwear and apparel. The company has sponsored numerous Olympic athletes and teams, as well as major football (soccer) teams and events, such as the FIFA World Cup.
Adidas is also famous for its popular shoe models, such as Superstar, Stan Smith, and UltraBoost, which have become cultural icons and fashion statements. The company has expanded its product lines to include lifestyle and fashion-oriented shoes and clothing, making it a global leader in the sports and fashion industries.