Columbia Sportswear Article

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Columbia Sportswear Company
Public
Traded as NASDAQCOLM
Industry Apparel
Founded1938; 81 years ago (1938)
Headquarters Washington County, Oregon (near Beaverton),
United States
45°31′46″N 122°49′31″W / 45.52938°N 122.82535°W / 45.52938; -122.82535
COLUMBIA SPORTSWEAR Latitude and Longitude:

45°31′46″N 122°49′31″W / 45.52938°N 122.82535°W / 45.52938; -122.82535
Number of locations
129 (December 2017) [1]
Key people
Gert Boyle
(Chairman)
Timothy Boyle
(Chief Executive Officer)
ProductsOuterwear and sportswear
BrandsColumbia
Sorel
Mountain Hardwear
prAna
Revenue US$2.46 billion (2017) [2] [3]
Number of employees
7,000+ (2017) [2] [4]
Website www.columbia.com
Columbia Sportswear retail store in Hong Kong
Columbia Men's Conspiracy OutDry Shoe

The Columbia Sportswear Company is an American company that manufactures and distributes outerwear, sportswear, and footwear, as well as headgear, camping equipment, ski apparel, and outerwear accessories.

It was founded in 1938 by Paul Lamfrom, the father of current chairperson Gert Boyle. The company is headquartered in Cedar Mill, an unincorporated area in Washington County, Oregon, in the Portland metropolitan area near Beaverton.

Columbia's rapid sales growth was fueled by its jackets, which featured breathable waterproof fabric and interchangeable shells and liners. [5]

History

Columbia Sportswear began as a family-owned hat distributor. Present chairwoman Gert Boyle's parents, Paul and Marie Lamfrom, fled Nazi Germany in 1937 and immediately purchased a Portland hat distributorship. The company became Columbia Hat Company, named for the nearby Columbia River. In 1948, Gert married Neal Boyle, who became the head of the company. Frustrations over suppliers influenced the family to start manufacturing their own products, and Columbia Hat Company became Columbia Sportswear Company in 1960. [6]

In 1970, Neal Boyle died following a heart attack. Gert and son Tim Boyle, then a University of Oregon senior, took over the operations of Columbia, rescuing it from bankruptcy. [7]

Columbia became a publicly traded company in 1998. [3] [8] It acquired footwear maker Sorel in 2000 and Mountain Hardwear in 2003. In 2006, Columbia acquired the Pacific Trail [9] and Montrail brands, [3] [10] and in 2014 they acquired prAna.

Columbia Sportswear's company headquarters in Washington County, Oregon

In 2001, the company moved its headquarters from Portland to a site in an unincorporated part of Washington County, [11] in the Cedar Mill area and just outside the Beaverton city limits. The site on NW Science Park Drive has a Portland mailing address, but is not in Portland. In 2007, City of Portland officials attempted to convince Columbia Sportswear to move back to Portland, [12] but the company ultimately rejected the idea and said it would expand its existing headquarters instead. [11]

In 2001, it was the largest American retailer of ski apparel based on gross revenue. [13]

On June 15, 2008, Columbia Sportswear announced a three-year sponsorship of the cycling team formerly known as Team High Road and before that T-Mobile and Team Telekom. The sponsorship began on July 5, 2008 with the start of the Tour de France. The team's name was " Team Columbia". The sponsorship included both the men's and women's teams. [14]

On August 4, 2010, Columbia Sportswear Company signed an agreement to acquire OutDry Technologies S.r.l., which owns the intellectual property and other assets comprising the OutDry brand and related business, via a cash purchase from Nextec S.r.l., based near Milan, Italy. The transaction was expected to close during the third quarter of 2010, subject to customary closing conditions, and is not expected to have a material effect on the company's 2010 operating results. [15]

In March 2015, Bryan Timm was named president of the company, taking over that position from Tim Boyle, who remained CEO. [3]

Locations

Columbia's flagship store in downtown Portland, Oregon

Columbia Sportswear distributes its products in more than 72 countries and 13,000 retailers. Columbia also operates its own chain of retail stores, including its flagship store located in downtown Portland, Oregon.

Financial information

As of February 12, 2015, the company's market capitalization is about $4.13 billion,[ citation needed] with 2014 net sales of $2.1 billion. [3]

As of 2018, 40% of Columbia's business came from abroad. [5]

Stock exchanges

Columbia Sportswear Company is publicly traded on NASDAQ with ticker symbol COLM. [16]

Trade and tariffs

The clothing business in the US is still largely subject to what remains of the Smoot–Hawley Tariff Act, passed in 1930. Since 2001, Columbia has paired its designers with teams of trade experts in a process the company calls " tariff engineering" in order to reach lower tariffs, taxes, or duties. For example, Columbia applies a very thin layer of fabric to the soles of its shoes since tariffs on fabric soles are lower than those on rubber soles; the fabric wears away within days. [5] For similar reasons, jackets are waterproofed and filled with at least 10% down.

Vietnam is Columbia's largest supplier, and 25% of the company's footwear originates in China. [5]

Columbia has operated in China since 2014 as Columbia Sportswear Commercial (Shanghai) Company as a joint venture with Swire Pacific Limited, reaching a total of 86 Chinese retail stores by 2017. [17] In 2018, Columbia announced it would buy out Swire's remaining 40% stake by 2019. [5]

See also

References

  1. ^ Columbia Sportswear Company 2017 Annual Report
  2. ^ a b "ANNUAL REPORT TO SHAREHOLDERS 2017". Columbia Sportswear Company. Retrieved 25 November 2018.
  3. ^ a b c d e Brettman, Allan (April 10, 2015). "Columbia charts its next billion dollars". The Oregonian. p. C1. Retrieved 2015-04-15.
  4. ^ "Columbia Sportswear Company Shareholder Information". Retrieved 2015-03-25.
  5. ^ a b c d e Tankersley, Jim. "A Winter-Coat Heavyweight Gives Trump's Trade War the Cold Shoulder". The New York Times. Retrieved 24 November 2018.
  6. ^ "Columbia Milestones". Columbia Sportswear. Retrieved 2009-11-28.
  7. ^ "Timothy Boyle". Forbes. Retrieved 2018-01-19.
  8. ^ Binole, Gina (April 3, 1998). "Columbia goes public in top-of-the-line style". Portland Business Journal. Retrieved 2009-11-28.
  9. ^ "Columbia Sportswear now owns Pacific Trail". Portland Business Journal. March 30, 2006. Retrieved 2009-11-28.
  10. ^ "Columbia Sportswear buys Montrail". Seattle Post-Intelligencer. January 27, 2006. Retrieved 2009-11-28.
  11. ^ a b Dworkin, Andy (August 30, 2007). "Columbia Sportswear staying put". The Oregonian. Retrieved 2009-11-28.
  12. ^ "Columbia's 'tough mother' squashes return rumor". Portland Business Journal. March 3, 2007. Retrieved 2009-11-28.
  13. ^ Senior, Jeanie (November 9, 2001). "Seamless warehouse is a marvel". Portland Tribune. Archived from the original on June 8, 2011. Retrieved 2015-04-15.
  14. ^ "Columbia Sportswear Announces Sponsorship" (Press release). Team Columbia & High Road Sports, Inc. June 15, 2008. Archived from the original on 2008-06-20. Retrieved 2008-06-17.
  15. ^ "Columbia Sportswear Company to Acquire OutDry Technologies S.r.l." (Press release). BUSINESS WIRE. August 4, 2010. Retrieved 2010-08-10.
  16. ^ "COLM : Summary for Columbia Sportswear Company - Yahoo Finance". finance.yahoo.com. Retrieved 2018-01-19.
  17. ^ "Columbia Sportswear Company Announces Intention to Acquire Remaining Interest in China Joint Venture from Swire Resources Limited". Business Wire. Retrieved 25 November 2018.

External links