Active outdoor apparel retailer Columbia Sportswear has completed the acquisition of the remaining 40% stake in Columbia Sportswear Commercial (Shanghai) Company from Swire Resources in China.
The company announced the deal in April last year. Columbia Sportswear Commercial is a joint venture operated in China by Columbia Sportswear.
Columbia Sportswear holds 60% and Swire owns 40% of the operation, which currently operates 86 retail stores and brand-specific e-commerce websites to sell its products in China.
Columbia Sportswear president and CEO Tim Boyle said: “We thank Swire Resources for contributing to the success and growth of the Columbia brand in China. They have been an exceptional partner for us over the years and we look forward to continuing our strong relationship with them in Hong Kong and Macau.
“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.
“The acquisition is consistent with our strategy to accelerate investment as a brand-led, consumer-focused business in the areas of highest growth potential for our existing brands.”
As the transaction is complete, the company plans to make continued investments in building the Columbia brand and expand direct and dealer-operated retail locations in China.
In addition, the company plans to continue the existing management team, staff, dealers, and distribution networks.
In mid-February this year, John Soh will assume the role of general manager of Columbia Sportswear Commercial.
Furthermore, Columbia Sportswear will continue Swire Resources as its independent distributor in Hong Kong and Macau.