Adidas AG headquarters in Germany was raided as part of a five-year tax investigation.
The company said that multiple offices were probed, including its headquarters located in Herzogenaurach.
The investigation, covering the period from October 2019 to August 2024, focuses on Adidas' compliance with tax and customs rules related to importing products into Germany, Reuters reported.
Amid the probe, Adidas' stock value fell by 2.1 percent in the Frankfurt Stock Exchange.
While the company confirmed it has been in contact with customs authorities for several years and is providing relevant documents, it does not expect the probe to have an impact on its bottom line.
Adidas AG is cooperating fully with the authorities, who are exploring different interpretations of German and European law, Reuters reported.
