German sportswear giant Adidas has petitioned the Indian law enforcement authorities to open a criminal investigation into alleged financial irregularities uncovered in its Indian arm Reebok India. A ‘criminal complaint' was filed with the Indian law enforcement authorities to bring formal charges in connection with the “commercial irregularities uncovered at Reebok India,'' an Adidas spokesman told PTI. An Adidas team is now in India to assist in the investigations. Further details could not be made public at this stage as investigations were continuing, the spokesman said. Adidas claimed earlier this month that it had uncovered commercial irregularities to the tune of 125 million euro in its subsidiary Reebok India and announced plans to close one-third of around 900 Reebok stores as part of a restructuring strategy.
In March, the company announced top-level management changes in Adidas India.
