Columbia Sportwear Announces Buyout of China JV
January 02 2019 - 2:41PM
Dow Jones News
By Stephen Nakrosis
Columbia Sportswear Company (COLM) on Wednesday said it bought
the 40% stake it didn't hold in Columbia Sportswear Commercial
(Shanghai) Company, a joint venture in China with Swire Resources
Limited, a subsidiary of Swire Pacific Limited.
The JV began operations in 2014, with Columbia holding a 60%
stake and Swire holding 40%.
Columbia said their future plans include continuing investments
to build the brand in China, and expanding direct and
dealer-operated retail locations in the county.
Tim Boyle, Columbia's president and chief executive, said "We
are very pleased with the positioning of the Columbia brand, and
are committed to investing in the continued long-term success of
Columbia in the crucial Chinese market."
Swire Resources will continue to serve as the exclusive
independent distributor of Columbia Sportswear in Hong Kong and
Macau, the company said.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 02, 2019 14:26 ET (19:26 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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