Posted: Saturday, May 18, 2024
Correction to the May 16 article: Foot Locker (NYSE) does not sell cheaper versions of Adidas’s (OTC) products. Instead, Deichmann, Intersport and Adidas (OTC) make them.
(Reuters) – Adidas is launching lower-priced versions of its three-striped shoe models, such as the white and black suede Samba in order to spread the trend. This was announced by CEO Bjorn Guden on Thursday during the annual shareholder’s meeting held at the company headquarters in Germany.
It’s important to realize that not everyone has the money to purchase a shoe at a price of 120 or 150 [dollars]Gulden, a German investor, told investors at a Furth presentation, near the Adidas headquarters in Herzogenaurach, that everyone wanted to participate in the same trends.
According to Gulden’s presentation, Adidas will sell similar versions of Samba and other shoe models for $60-$80. This is a more affordable price point than the $100-$150 for the main shoe line.
What we do at the top 100 [dollars] Gulden explained. He added that the cheaper models were aimed at retailers such as Deichmann or Intersport.