German sports equipment manufacturer Adidas is investigating a vast case of alleged corruption in China valued at several ” millions of euros “ by local employees of the group, said Sunday the Financial Times (FT).
According to the business daily, a letter which would have been written by “employees of Adidas China” specifically accuses several Chinese employees, including a company executive.
A fraud estimated at 250 million euros
The document, which circulated this month in China on the social network Xiaohongshu, an equivalent of Instagram, puts the alleged fraud at 250 million euros.
The letter is no longer visible on the platform on Sunday but a supposed copy, the authenticity of which AFP was unable to verify, is used on several accounts.
Cited by the FT, the document accuses Adidas staff of having received bribes from service providers mandated by the German group.
An Adidas China executive is accused of receiving “millions in cash from suppliers, as well as property including real estate. »
According to the Financial TimesAdidas received a letter on June 7 warning the brand with the three stripes of “potential violations” in China.
The group could not immediately be reached for comment.
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Adidas’ first-quarter sales in China rose nearly 8% year-on-year, according to results released in April.
