Reported 8 months ago
After receiving an anonymous tip, German sportswear manufacturer Adidas is investigating allegations of senior executives at its China division accepting significant kickbacks. The report details accusations against several high-ranking employees, including receiving kickbacks from external contractors and millions in cash and properties from suppliers. Adidas confirms being alerted to possible misconduct in China and is conducting an in-depth investigation with external legal advisors. Despite no suspensions, the company is facing declining sales in China due to factors like the pandemic and controversies surrounding Xinjiang cotton.
Source: YAHOO