Sporting goods Authorities search Adidas headquarters

The sporting goods manufacturer Adidas says it is in trouble with customs. Customs and the tax office have been looking around the company's headquarters, among other places.

The company confirmed a report that official searches had been carried out at the headquarters in Herzogenaurach and at other locations. Manager Magazin had previously reported on a tax raid at Adidas.

"The investigation covers the period from October 2019 to August 2024 and is related to compliance with customs and tax regulations when importing products to Germany," Adidas continued. The company is cooperating with the authorities and providing the necessary documents and information.

Adidas has been in contact with the relevant customs authorities for several years regarding the already known facts underlying the investigation, it added. The company continues to work closely with the customs authorities in order to clarify questions that have also arisen "due to different interpretations of German and European law". "Significant financial consequences" for the company are not expected in this context.

SDA