Adidas investigates inner corruption allegations in China | EUROtoday

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Corruption investigations into Adidas China. The German group, following an nameless letter dated June seventh denouncing potential compliance violations by some staff, determined to nominate an exterior authorized guide to make clear the matter.

The Chinese market

China was one of many development engines for Adidas earlier than the pandemic, however boycotts by Western manufacturers then diminished its enterprise within the nation. The firm has solely returned to development within the Chinese market in latest quarters, albeit from a smaller base, due to a restoration in demand for sneakers, together with traditional three-stripe sneakers such because the Samba and Gazelle.

The corruption costs

The nameless letter appeared briefly on Chinese social media platform Xiaohongshu earlier this month, the Financial Times reported over the weekend. The letter, which claims to have been written by “Adidas China employees”, accuses a number of Chinese staff of corruption, together with a senior supervisor concerned in Adidas' advertising and marketing funds within the nation.

The letter, primarily based on screenshots circulating on social media and information websites in China, alleged that Adidas staff acquired kickbacks from exterior service suppliers, whereas one other senior supervisor doubtlessly acquired “millions in cash” from suppliers and bodily items like actual property.

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Adidas stated it couldn’t present additional info, however takes the allegations very severely, it stated.

https://www.ilsole24ore.com/art/adidas-indaga-accuse-interne-corruzione-cina-AGUbgZb