Columbia Sportswear Company and Swire Resources Limited Announce Appointment of Samson Wong as President of New China Joint

  Columbia Sportswear Company and Swire Resources Limited Announce Appointment
  of Samson Wong as President of New China Joint Venture

       - 29-Year Swire Veteran Brings Deep Experience in China Market -

Business Wire

PORTLAND, Ore. -- June 17, 2013

Joint venture partners Columbia Sportswear Company (Nasdaq:COLM), a leading
innovator in the global outdoor apparel, footwear, accessories and equipment
industries, and Swire Resources Limited, a subsidiary of Swire Pacific Limited
(SEHK:00019) (SEHK:00087) and the exclusive distributor of Columbia Sportswear
in Mainland China since 2004, announced today that their new China joint
venture – Columbia Sportswear Commercial (Shanghai) Co. Ltd. – will appoint
Samson Wong as president effective January 1, 2014.

Wong, age 54, brings 29 years of experience with the Swire group, including
the past 23 years with Swire Resources Limited, where he began in 1990 as
financial controller and ascended to executive director in June 2012. Wong has
led Swire Resources’ efforts as Columbia Sportswear’s exclusive distributor in
Mainland China since 2004 and in Hong Kong/Macau since 2002.

Swire Resources’ Mainland China revenues attributable to its Columbia
distributorship totaled over $150 million and generated low-double-digit
EBITDA in 2012, selling through approximately 70 branded retail locations and
to dealers who operate more than 680 mono- and multi-brand retail locations.
The new 60/40 joint venture will assume control over this existing distributor
business. It will initially employ approximately 700 staff, drawn primarily
from the current Swire Resources team that has grown Columbia to be the #1
outdoor brand in China, according to the 2012 China Outdoor & Fashion Sports
Goods Retailing Report from ISPO China and The China National Commercial
Informational Centre.

“We believe Samson’s proven leadership and the continuity of the Swire team
will be invaluable as we invest together and expand our relationship with a
trusted business partner under the new joint venture structure,” said Columbia
president and CEO Tim Boyle.

“Samson and his team bring a deep understanding of the China market and of the
strategy and operational skills required to support and grow Columbia’s family
of leading outdoor brands,” said J.B. Rae-Smith, an executive director of
Swire Pacific Limited with responsibility for Swire Resources Limited. “We are
deeply committed to working with Columbia Sportswear as joint venture
partners.”

“We have built a solid foundation for Columbia’s brands over the past 10 years
and I am honored by the opportunity to lead the new joint venture with
Columbia Sportswear and many of my current Swire colleagues,” said Wong.

The joint venture is expected to commence operations effective January 1,
2014, subject to regulatory approval in the People's Republic of China and
other conditions customary in transactions of this size and type. The joint
venture will be fully consolidated in Columbia Sportswear’s operating results,
beginning in 2014.

About Columbia Sportswear Company

Columbia Sportswear Company is a leading innovator in the global outdoor
apparel, footwear, accessories and equipment industry. Founded in 1938 in
Portland, Oregon, Columbia products are sold in approximately 100 countries
and have earned an international reputation for innovation, quality and
performance. Columbia products feature innovative technologies and designs
that protect outdoor enthusiasts from the elements, increase comfort, and make
outdoor activities more enjoyable. In addition to the Columbia® brand,
Columbia Sportswear Company also owns outdoor brands Mountain Hardwear®,
Sorel®, Montrail® and OutDry®. To learn more, please visit the company's
websites at www.columbia.com, www.mountainhardwear.com, www.sorel.com,
www.montrail.com and www.outdry.com.

About Swire Resources Limited

Swire Resources Limited is a subsidiary of Swire Pacific Limited, one of Hong
Kong’s leading listed companies with diversified interests in five operating
divisions: Property, Aviation, Beverages, Marine Services and Trading &
Industrial. Swire Resources acts as the holding company for extensive retail
and wholesale interests in sports and lifestyle footwear and apparel. The
company operates over 300 retail locations in Hong Kong and Mainland China,
primarily consisting of single brand concept stores and three multi-brand
sports and casual retail chains: Marathon Sports, GigaSports, and Catalog
stores. Marathon Sports, being first opened in the early 1980s, is Hong Kong's
largest sportswear retail chain. Swire Pacific’s operations are predominantly
based in the Greater China region, where the name Swire has been established
for over 140 years.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of
federal securities laws, including statements regarding the anticipated
commencement date of Columbia’s new joint venture in China, the ability to
obtain necessary regulatory approval of the joint venture, and growth of the
market for Columbia’s brands in China. Actual results could differ materially
from those projected in these and other forward-looking statements. Columbia’s
expectations, beliefs and projections are expressed in good faith and are
believed to have a reasonable basis; however, each forward-looking statement
involves a number of risks and uncertainties, including those set forth in
this release, those described in Columbia’s Annual Report on Form 10-K for the
year ended December 31, 2012 under the heading “Risk Factors,” and other risks
and uncertainties that have been or may be described from time to time in
other reports filed by Columbia, including reports on Form 8-K, Form 10-Q and
Form 10-K. Potential risks and uncertainties that may affect Columbia’s future
revenues, earnings and performance and could cause the actual results of
operations or financial condition of Columbia to differ materially from those
expressed or implied by forward-looking statements in this document include:
inability to commence operation of the joint venture in a timely manner;
inability to obtain the necessary regulatory approvals to commence the joint
venture; operational disruptions resulting from the transition to new
management, support systems, and/or personnel; absence of access to a
qualified network of dealers to market Columbia’s brands; a decline in
consumer demand for Columbia’s products; increased competitive responses to
Columbia’s efforts to expand its brand power in the China market,
international risks, including changes in import limitations and tariffs or
other duties, political instability in China specifically or southeast Asia
generally, exchange rate fluctuations, and trade disruptions; our ability to
attract and retain key employees; the financial health of the joint venture’s
customers and their continued ability to access credit markets to fund their
ongoing operations; higher than expected rates of order cancellations;
increased consolidation of retail customers; Columbia’s ability to effectively
source and deliver products to customers in a timely manner, the failure of
which could lead to increased costs and/or order cancellations; unforeseen
increases and volatility in input costs, such as cotton and/or oil; Columbia’s
reliance on product acceptance by consumers; Columbia’s reliance on product
innovations, which may involve greater regulatory and manufacturing complexity
and could pose greater risks of quality issues or supply disruptions; the
effects of unseasonable weather (including, for example, warm weather in the
winter and cold weather in the spring), which affects consumer demand for
Columbia’s products; Columbia’s dependence on independent manufacturers and
suppliers; Columbia’s ability to source finished products and components at
competitive prices from independent manufacturers in foreign countries that
may experience unexpected periods of inflation, labor and materials shortages
or other manufacturing disruptions; the effectiveness of sales and marketing
efforts; intense competition in the industry; business disruptions and acts of
terrorism or military activities around the globe; and Columbia’s ability to
establish and protect Columbia’s intellectual property.Columbia cautions that
forward-looking statements are inherently less reliable than historical
information. Columbia does not undertake any duty to update any of the
forward-looking statements after the date of this document to conform them to
actual results or to reflect changes in events, circumstances or its
expectations. New factors emerge from time to time and it is not possible for
Columbia to predict all such factors, nor can it assess the impact of each
such factor or the extent to which any factor, or combination of factors, may
cause results to differ materially from those contained in any forward-looking
statement.

Contact:

Columbia Sportswear
Investors:
Investor Relations and Corporate Communications
Ron Parham, 503-985-4584
rparham@columbia.com
or
Media:
Public Relations
Scott Trepanier, 503-985-4183
strepanier@columbia.com
 
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