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The sportswear giant Adidas has committed itself to the ambitious social goal of ensuring that nobody in the third world goes without shoes.
The German multinational will develop and make special unbranded shoes targetted at the developing world on a non-profit basis, selling them at no more than the cost of manufacturing, initially in Bangladesh.
It has signed a memorandum of understanding with Grameen, the social bank set up by the Bangladeshi Nobel laureate Muhammad Yunus, who came up with the idea and will offer advice.
Design and price are yet to be announced, but the shoes are expected to cost €1.
Adidas is the latest in a line of multinationals to collaborate with Grameen. Food business Danone and the water company Veolia have begun separate joint social business ventures with Grameen to provide nutrition and safe drinking water to the world’s poor, and Grameen most recently combined with the German retailer Otto to open a garment factory. Outside of Grameen’s orbit, other companies have been working on ‘pro-poor’ projects to develop cheap laptops and cars.
The German multinational will develop and make special unbranded shoes targetted at the developing world on a non-profit basis, selling them at no more than the cost of manufacturing, initially in Bangladesh.
It has signed a memorandum of understanding with Grameen, the social bank set up by the Bangladeshi Nobel laureate Muhammad Yunus, who came up with the idea and will offer advice.
Design and price are yet to be announced, but the shoes are expected to cost €1.
Adidas is the latest in a line of multinationals to collaborate with Grameen. Food business Danone and the water company Veolia have begun separate joint social business ventures with Grameen to provide nutrition and safe drinking water to the world’s poor, and Grameen most recently combined with the German retailer Otto to open a garment factory. Outside of Grameen’s orbit, other companies have been working on ‘pro-poor’ projects to develop cheap laptops and cars.
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