Authorities conducted a raid at Adidas AG’s headquarters in Germany as part of a tax investigation that has been ongoing for several years. The investigation focuses on customs and tax compliance for products imported into Germany over a five-year period, starting in October 2019, according to a statement from an Adidas spokesperson.
Under CEO Bjorn Gulden, who joined from Puma SE in late 2022, Adidas has seen strong performance, raising its annual profit forecast in October, driven by a surge in demand for retro sneakers like the Samba.
Adidas emphasized that it does not anticipate any significant financial impact from the investigation, according to the company’s statement. The raid was reported by Germany’s Manager Magazine.
