Adidas will launch cheaper versions of its three-stripes shoes, such as the white and black suede “Samba,” in a bid to popularize the trend, the chief executive said at the company’s annual general meeting in Germany on Thursday. (CEO) Björn Gulden said.
“It’s important to understand that not everyone can buy shoes for $120 or $150.” [dollars]But everyone wants to be part of the same trend,” Gulden told investors during a presentation in Fürth, near Adidas’ headquarters in Herzogenaurach.
Adidas plans to offer similar versions of the Samba and other shoes for $60 to $80, making it a more affordable entry point than the $100 to $150 prices of its major shoe lines, according to presentation slides shown by Gruden. That’s the point.
“What we do at the top, 100 [dollars] If it gets even higher, pull it down. So we have something to offer Foot Locker, Intersport and Deichmann as well,” Gulden said.
Adidas posted its first annual loss in more than 30 years and warned in March that U.S. sales would decline this year.