Columbia Sportswear announces closing of China JV buyout
Columbia Sportswear announced that effective January 2, 2019 it has closed its buyout of the remaining 40% interest in Columbia Sportswear Commercial Company, the joint venture in China with Swire Resources Limited, a subsidiary of Swire Pacific Limited. The joint venture began operations on January 1, 2014 with headquarters in Shanghai. Columbia Sportswear owned 60% of the operation and Swire owned 40%, with profits and losses shared in similar proportions. Future plans include continued investments in building the Columbia brand in China, as well as expansion of direct and dealer-operated retail locations. Columbia also intends to maintain the existing management team, staff, dealers, and distribution networks. As previously announced, John Soh will become the general manager of Columbia Sportswear Commercial Company in mid-February 2019. Swire Resources will continue to serve as the exclusive independent distributor of Columbia Sportswear in Hong Kong and Macau.