Adidas' headquarters in Germany was raided in connection with a tax investigation. Authorities are probing customs and tax regulations for products imported into Germany over a five-year period that began in October 2019.

The sportswear maker said some of its locations in Germany were searched in connection with an investigation into customs and tax-import compliance.

Adidas AG faced a second consecutive day of raids by criminal prosecutors and customs investigators, intensifying a years-long tax investigation into the German sports brand.