Adidas Raided by German Authorities Amid Tax Probe

Authorities have raided Adidas AG headquarters in Germany as part of a prolonged tax investigation. The probe, focused on customs and tax compliance between 2019 and 2024, aims to resolve discrepancies in law interpretations. Adidas is collaborating actively and anticipates minimal financial repercussions.

Adidas AG's headquarters in Germany were raided by authorities as part of an ongoing tax investigation, the company confirmed on Tuesday. The raid highlights issues related to customs and tax compliance practices.

In a statement, Adidas disclosed that it had been in discussions with customs authorities for several years concerning the matter. The investigation, originally reported by Germany's Manager Magazine, focuses on product import issues under German and European law between October 2019 and August 2024.

The sportswear giant reassured stakeholders that it is cooperating fully with authorities and does not foresee a significant financial impact from the investigation. The company continues to work closely with customs officials to address differing interpretations of the law.

(With inputs from agencies.)