ADIDAS: Corruption Claims in China!
By Prof Dr Ian Blackshaw
It has been reported that the German Sportswear Group, ADIDAS, is investigating, with the assistance of outside legal counsel, alleged claims that some of its senior employees have been involved in bribery in China.
ADIDAS has stated that it has received:
“an anonymous letter indicating potential compliance violations in China.”
And added that it takes such allegations:
“very seriously and is clearly committed to complying with legal and internal regulations and ethical standards in all markets where we operate.”
Shares in ADIDAS fell 4% on 17 June 2024 on the Frankfurt Stock Exchange before ending the day’s session at 2.6% lower.
China is a very important market for ADIDAS where the Group is forecasting double-digit growth in sales for this year!
Prof Dr Ian Blackshaw may be contacted by e-mail at ‘
