Adidas takes a new project for Bangladesh

German sport-goods giant Adidas has under taken a project to produce low-cost trainers for poor buyers, a London-based newspaper reported on Tuesday. Quoting an Adidas spokesman, the newspaper stated that the project was undertaken after being convinced by the noble laureate and founder of Grameen Bank, Mohammad Yunus. Jan Runau, the Adidas spokesman, told Daily Telegraph that an agreement had been signed to begin production of the shoes in Bangladesh next year. He, however, said that the project was at an early stage and it had not yet been decided whether the shoes would carry the Adidas tag. Jan also said Adidas is to make trainers [active shoes] at the price of one Euro per pair for millions of people around the world who can not afford to buy shoes. Pilot production would begin next year in Bangladesh, he said. Adidas usually makes expensive footwear and celebrity sponsorship but, according to the Telegraph, [Bangladesh] project was inspired by Muhammad Yunus, the pioneer of micro-loans which help the poor start their own businesses. He [Yunus] told the company [Adidas], which has been criticised for exploitation in the developing world, that Bangladesh needed 'social businesses' which would create jobs in the country. 'It is correct that Adidas Group in conjunction with Muhammad Yunus aims to put such shoes on the market,' he said. 'The company has now 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 (89 pence) target.' The Telegraph wrote. Adidas pays former England football captain David Beckham £3 million per year as a brand ambassador and to use his name to promote their Predator football boots, which sell for £130 a pair. It spent a reported £50 million to sponsor the Beijing Olympics last year and has pledged a further £100 million for the London Olympics in 2012. He said it had not yet been decided whether the shoes would carry the Adidas brand or its trademark three stripes design, 'Key decisions on design and branding have yet to be finalized.'