Adidas examines accusations of bribery involving employees based in China.
Athletic brand Adidas is under fire for accusations of bribery and theft among its employees in China. In response, Adidas stated, "We take seriously any allegations of potential regulatory breaches and reiterate our dedication to fulfilling legal and company regulations, as well as ethical principles, in every market we operate in." This statement was shared publicly in light of the recent report by "Financial Times."
On June 7, Adidas received an anonymous letter hinting at possible compliance violations. "We are thoroughly investigating this matter with the help of external legal advisors," Adidas added to its statement. Further communiqué will be withheld until the completion of the investigation.
As per "Financial Times," the anonymous letter originated within Adidas' own ranks and implicates several employees, including those at a higher management level. The accusation is that these staff members paid bribes to external service providers in exchange for kickbacks.
Adidas, after experiencing significant challenges in the large and lucrative Chinese market under new managing director Bjoern Gulden, had recently managed to regain a firmer position there.
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Adidas' investigation into the anonymous letter's allegations of corruption involves employees at various levels within the company, including some in higher management positions. The bribery accusations suggested in the letter involve employees paying kickbacks to external service providers in China. Despite the ongoing investigation, Adidas has remained cautious about providing further details, only confirming that they are working closely with external legal advisors.
