Adidas probing bribery allegations in China, FT reports

Adidas has launched an investigation into allegations of large-scale bribery in China after the sportswear maker received a whistleblower complaint that accused senior staff of embezzling “millions of euros,” The Financial Times’ Olaf Storbeck, Eleanor Olcott, Wang Xueqiao, and Daniel Thomas report. According to people briefed on the matter, the complaint alleges that Adidas staff received kickbacks from external service providers who were commissioned by the German group, while a second senior Adidas manager, who works in a different division in China, is accused of having received “millions in cash from suppliers, and physical items such as real estate.” None of the accused individuals have been placed on leave, according to people familiar with the matter.