Herbert Hainer

Adidas files criminal complaint for irregularities

Adidas files criminal complaint for irregularitiesSporting goods giant, Adidas has filed a criminal complaint with the India law enforcement authorities in the commercial irregularities found in Reebok India.

Irregularities found in Adidas India operations

Irregularities found in Adidas India operationsCertain financial irregularities have been discovered in German sportswear maker Adidas's operations in India. Adidas Group chief executive officer (CEO) Herbert Hainer has said that the issues in its Indian operations could lead to a further charge of up to 70 million for the company. The company is looking to restructure its franchise model in the country.

Adidas Plans To Cut Reebok Store Base In India

Adidas Plans To Cut Reebok Store Base In IndiaGermany's Adidas announced that it would slash the number of its Reebok stores in the Indian market by around one-third as it restructures functioning in the nation after discovering "abnormalities" at Reebok India.

While the Adidas group as a whole exceeded anticipations for first-quarter outcomes, Reebok witnessed sales in the first three months decline 7% on a currency neutral basis.

Chief Executive Herbert Hainer made this announcement.




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