Adidas Headquarters Reexamined in EU Tax Investigation

According to reports, Adidas AG's headquarters was searched for the second consecutive day as part of an ongoing European Union tax investigation. The investigation, which has been underway for several years, is examining alleged tax irregularities amounting to €1.1 billion.

While Adidas did not confirm the latest searches conducted on Wednesday, the company reiterated in a statement on Tuesday that it is cooperating with authorities. The investigation, which spans from October 2019 to August 2024, focuses on Adidas's compliance with customs and tax regulations regarding imported goods into Germany. Despite the ongoing investigation, Adidas stated that it does not expect any significant financial impact from the matter.

The European Public Prosecutor's Office (EPPO) announced on its website that it was conducting activities to gather evidence in Germany and Austria on Wednesday. The EPPO suspects that a group of companies in the sportswear sector has been evading import duties, thereby negatively impacting the EU budget. However, due to the ongoing nature of the investigation, the EPPO did not disclose further details.

According to sources familiar with the situation, additional searches were also conducted at various other business premises and the private homes of employees. These developments mark a significant step in the investigation and underline the scrutiny multinational companies face regarding their tax practices in Europe.