Overview

• The allegations involve senior employees accused of receiving millions in cash and real estate from suppliers.
• Adidas received the whistleblower letter on June 7 and is conducting an intensive investigation with external legal counsel.
• The company has not disclosed further details until the investigation concludes but emphasizes its commitment to compliance.
• The letter, purportedly written by Adidas China employees, was initially posted on Chinese social media but has since been removed.
• Adidas experienced an 8% growth in China sales in the first quarter, despite recent challenges in the market.