Adidas to bring lower-cost Samba, other shoe models to market

The lower-cost versions will be in the $60 to $80 range, according to Reuters

Adidas is apparently looking to bring lower-cost shoe models to the market.

Reuters reported Thursday the sportswear company indicated Samba and other shoes will become more affordably priced options in the $60 to $80 range.

"It’s important to understand that not everyone can afford to buy a shoe for $120 or $150, but everyone wants to take part in the same trends," CEO Bjorn Gulden told investors. 

GET FOX BUSINESS ON THE GO BY CLICKING HERE

"What we do at the top, $100 and higher, we’re bringing that down. So, for Foot Locker, for Intersport and for Deichmann, we’ve also got something to offer."

A photo of the Adidas logo on a sign

An Adidas sign at the Woodbury Common Premium Outlets.? (REUTERS/Andrew Kelly/File Photo / Reuters Photos)

FOX Business reached out to Adidas for comment on the matter.

Late last month, as Adidas reported its first-quarter results, the sportswear company said its Samba, Gazelle, Spezial and Campus lines were seeing "very strong and growing" demand. 

NIKE CUTTING 1,600 JOBS TO CUT COSTS

It has been selling versions of the Samba, Gazelle and Campus for decades.

Adidas also reported in April that its SL72 shoe has been gaining momentum.

Adidas store

The Adidas logo at a store in a shopping mall in Krakow, Poland, April 20, 2024. (Jakub Porzycki/NurPhoto via Getty Images / Getty Images)

Overall, the sportswear company generated about $5.93 billion in revenues (5.46 billion euros) in the first quarter, marking a 4% increase from the same period last year. Its net income from continuing operations came in at $185.85 million (171 million euros).

CLICK HERE TO READ MORE ON FOX BUSINESS

Adidas had a market capitalization hovering around $44.47 billion as of Thursday afternoon.

Reuters contributed to this report.

news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news