Adidas Faces Tax Evasion Probe
German authorities have conducted searches at Adidas’s headquarters in Herzogenaurach as part of an investigation into alleged tax evasion exceeding €1.1 billion. The probe focuses on customs duties and import sales tax compliance. Adidas has stated its cooperation with authorities and does not expect significant financial repercussions, attributing the issue to differing interpretations of German and European laws. (Source: Financial Times)
Exciting Collaborations and Releases
Adidas recently collaborated with NFL quarterback Patrick Mahomes to launch a special edition bronze-colored shoe in honor of his son. This release highlights Adidas’s focus on family-centered branding and innovative design. (Source: Sports Illustrated)
Strong Financial Performance
Despite challenges, Adidas has reported a 10% revenue increase, reaching €17.7 billion in the first nine months of the fiscal year. This growth stems from robust brand momentum and successful product launches, especially in the Originals footwear line. (Source: Company Earnings Report)
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Adidas continues to navigate complex landscapes while delivering cutting-edge products and maintaining its strong global presence.