Berlin Investigations into Adidas

BERLIN (Reuters) – Investigators have conducted searches at Adidas headquarters for the second straight day, according to the Financial Times. This is part of a prolonged investigation into alleged tax damages amounting to 1.1 billion euros, reported by Handelsblatt newspaper.

Adidas has not confirmed the continuation of the searches and reiterated its commitment to cooperating with authorities, consistent with a statement made the previous day.

The investigation spans from October 2019 to August 2024, examining compliance with customs and tax regulations related to product imports into Germany. Adidas stated it is cooperating with authorities and does not foresee significant financial repercussions.

The European Public Prosecutor's Office (EPPO) announced earlier on its website that it conducted evidence-collecting activities in both Germany and Austria. They suspect that a corporate group involved in sportswear may have evaded import duties, impacting the EU budget adversely. Further details cannot be disclosed at this stage.

The Financial Times also mentioned that searches took place at various other business locations and private residences of employees, citing sources familiar with the investigation.