Reebok Considering Offering $1 Shoe To Fit Budget Of India's Rural Poor
Reebok is "considering offering a shoe that fits the budget" of India's rural poor, with a price tag as low as $1 a pair, according to Preetika Rana of the WALL STREET JOURNAL. Reebok Corporate Communications Manager Daniel Sarro in an e-mail wrote a pilot project is under way aimed at "testing the technical feasibility of producing a durable, functional and affordable shoe." He added the project is based on a "social business model ... tackling social issues through entrepreneurial actions and not by maximizing profit." Sarro did not "name a date for the shoe's introduction but said further information is expected later this year." Rana reported Reebook "took an exploratory step last year, offering 5,000 pairs in three villages in Bangladesh." The company in India has a "central headquarters, manufacturing facilities and a large enough staff to dedicate the time needed to develop the product and test the business model" (WALL STREET JOURNAL, 11/25).