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Authorities are investigating customs and tax regulations for products imported into Germany over a period of about five years from October 2019 to August this year, a spokesman said.
Other locations were searched, including offices in the company’s headquarters in Herzogenaurach. Adidas said it has provided relevant documents and information to investigators and has been in contact with customs officials over the past several years about the matter.
“The company does not expect any significant financial impact in connection with the investigation,” Adidas said in the statement.
The company said it “continues to work with customs authorities to clarify issues arising from different interpretations of German and European law.”
The tax investigation is the latest scandal following his disastrous breakup with the shoemaker, the rapper formerly known as Kanye West, over his anti-Semitic comments.
No additional details about the tax investigation were immediately available. Shares rose slightly on expanded business.