Adidas' German headquarters raided

According to CNBC , Adidas headquarters in Germany was searched on December 10 due to a years-long tax investigation.

Specifically, the authorities are investigating tax and customs regulations on products imported into Germany over a five-year period, from October 2019 to August 2024, an Adidas spokesperson said.

Adidas headquarters in Germany raided. (Illustration photo)

Offices at the company’s headquarters in Herzogenaurach, along with other locations, were also searched. Adidas said it had provided investigators with relevant documents and information and had been in contact with customs authorities on the matter for several years.

"The company does not expect any significant financial impact related to the investigation," Adidas said in a statement.

The company also said it "continues to cooperate closely with customs authorities, to clarify issues arising from different interpretations of German and European law".

The tax investigation is the latest scandal to hit the sneaker maker, following its split with Ye, the rapper formerly known as Kanye West, over controversial comments he made.

No additional details about the tax investigation were disclosed. Adidas shares were still up slightly in extended trading.

The business outlook is looking bright for the German sports giant. The company reported third-quarter sales growth and expects full-year growth of 10%, compared with a previous single-digit forecast.

Adidas is also embroiled in a long-running multinational trademark battle with Thom Browne over its use of stripes.

The US fashion brand won the latest round of the battle in November after Adidas sought to remove Thom Browne's range including its signature four-bar pattern from the UK market, on the grounds that this would confuse consumers.

Phuong Anh (Source: CNBC)

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