During a years-long tax investigation, German law enforcement executed a search operation at Adidas’ headquarters in Herzogenaurach, Germany.
As confirmed by a company spokesperson to Bloomberg, the company has been working with customs authorities for several years and is providing them with the requested documents and information to move the investigation along.
Germany’s Manager Magazine first reported the raid.
According to CNBC, the tax investigation spans the period from October 2019 to August 2024 and is related to Adidas’ compliance with customs and tax regulations regarding the import of products into Germany.
Adidas has reassured stakeholders that it has compiled and has been cooperating with authorities over an extended period, furnishing them with the documentation and pertinent information required to the investigation.
Image courtesy Adidas
