Adidas is investigating a bribery case in its Chinese branch

Noos News

German sports brand Adidas is investigating a major bribery case in China. Sources reported this to Financial Times. High-ranking Adidas managers in China are said to have accepted millions of euros.

According to the newspaper, the issue came to light through an anonymous letter sent by employees of the Chinese branch of Adidas. According to sources, these employees are well aware of sensitive and highly confidential internal issues.

Cash and real estate

The scam allegedly involved a senior marketing manager in China. A manager at another Adidas division in China is also said to have accepted large sums of cash and property from suppliers.

Adidas confirmed to the Financial Times that it had received a letter on June 7 and was conducting an investigation with external legal advisors. According to informed sources, no one has been suspended yet.

Strong growth in China

China is an important market for the world’s second largest sports brand. Adidas has had a tough time in China in recent years. This is mainly due to prolonged coronavirus-related lockdowns. Before the Corona period, China was the fastest growing and very profitable market for Adidas. The sports brand expects a significant recovery and growth in sales this year.

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