(Corrects May 16 story to reflect error in live translation, Adidas (OTC:) is making cheaper versions for Deichmann and Intersport, not Foot Locker (NYSE:))
By Linda Pasquini
(Reuters) -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.
