Searches were carried out at Adidas headquarters in the German city of Herzogenaurach on December 10 in connection with tax and customs duty evasion, Reuters reports citing a company representative.
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He stated that Adidas has been in constant contact with customs and police authorities for several years and has provided them with all necessary documents. “The company does not expect significant financial consequences in connection with the investigation,” the press service stressed.
The investigation into Adidas covers the period from October 2019 to August 2024. The clothing and footwear manufacturer is suspected of violating customs and tax laws when importing goods into Germany.
“The company will continue to work closely with customs authorities to clarify issues arising from different interpretations of German and European legislation,” Adidas said in a statement to CNBC.
The manufacturer’s operating profit in 2024 could reach $1.3 billion, more than the previous forecast of $1.1 billion, Bloomberg writes. The new CEO of Adidas, Bjorn Gulden, who previously headed Puma, made his contribution and managed to convince investors to bring the brand’s sports component back to the fore, the agency notes.
Author:
Mikhail Zelenin
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
