Adidas Is Socially Responsible

Filed Under: Inspiration Business Blitz Shoes! Shoes! Shoes!

Wow! We've gotta hand it to Adidas, this is really impressive!

The German activewear company announced on Friday that it will launch a project next year to make and distribute sneakers to the poor in Bangladesh, following the teachings of Nobel Peace Prize winner Muhammad Yunus, who coined the "social business model."

An Adidas representative explained, "The objective of a social business according to Professor Yunus is solely tackling social issues through entrepreneurial actions, not maximizing profit. Nevertheless, social businesses do work in an economically sustainable way. Anticipated profits are not paid out as dividends but are reinvested in the social business."

While specifics are still in development, Adidas will work in keeping with the model, producing and distributing footwear that provides protection from widespread infections at a price low enough for the impoverished to afford.

What a great cause. Can't wait to get more details about the endeavor!

[Image via AP Images.]

Posted: November 16, 2009 at 6:33 pm