Columbia Sportswear to take full ownership of it - sportstextiles: Lea SportsTextiles

News

Columbia Sportswear to take full ownership of its China joint-venture

12/04/2018
Outdoor brand Columbia Sportswear has announced its intention to buy out its joint-venture partner in China and take full control of its subsidiary there. Subject to regulatory approval, it expects the deal to be complete at the start of 2019.

Columbia set up the joint-venture in 2014 with retail group Swire Resources, with Columbia owning 60% of the equity and its partner 40%. Columbia will now seek to acquire that 40% stake and take 100% ownership.

“We have positioned the Columbia brand for long-term sustained growth in the crucial Chinese market,” said chief executive, Tim Boyle, at the time of the announcement. “The acquisition is consistent with our strategy to accelerate investment as a brand-led, consumer-first business in the areas of highest growth potential.”

As of December 31, 2017, the joint venture operated 86 retail store locations in China. In addition, the joint venture sells its products through brand-specific e-commerce websites in China across multiple platforms and has distribution relationships with approximately 50 wholesale dealers that operate 750 retail locations.

Swire Resources will continue to serve as the exclusive independent distributor of Columbia Sportswear in Hong Kong and Macau.

Related stories:

Columbia takes full control of Chinese joint venture 04/01/2019
Strong start to 2018 for Columbia 01/05/2018

Sportstextiles.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.