company profile: columbia co. mercyhurst university riap...

Company profile: Columbia

Company profile: Columbia Co.

Mercyhurst University

RIAP Class 300

Pia Frascatore

Fall 2012

5/2/2013 of 94


ContentsContents .............................................................................................................. 2

Executive Summary ...................................................................................... 5

Value Chain ...................................................................................................... 6

Timeline ........................................................................................................ 9

Top Management: ....................................................................................... 13

Marketing activities and trends ................................................................... 20

Marketing: ................................................................................................ 20

Trends: ....................................................................................................... 22

Operations/Capacities .................................................................................... 23

Strategies ....................................................................................................... 27

Coldblack®: ................................................................................................... 43

Garment ......................................................................................................... 44

Layered Thermoplastic Non-Woven Textile Elements ................................................ 45

Cellulosic Substrates with reduced absorbent capacity having the capability ..................... 46

Temperature responsive smart textile ..................................................................... 47

Waterproof moisture-permeable underwear and waterproof moisture-permeable liner ........ 48

Heat management system ................................................................................... 49

Holographic Patterned Heat Management Material .................................................... 50

Zoned Functional Fabrics ................................................................................... 51

5/2/2013 of 94


EXECUTIVE SUMMARY:Columbia Sportswear is a strong company, attracting audiences to their luxurious

products despite tough economic times, reaching record highs in salesi. Their expansion is

consistent even in the uncertain economy. Their strong business plan is based on new technology,

this innovation requires large investments and thus and large gambleii, counter acted by out

sourcing the responsibility for production and sales to other companies. The structure is further

stabilized by the versatile in background and ideas, present on the board of Directors iii. The rising

costs of materializes, will soon be squeezing profit margins, and in this changeling field,

flexibility will be keyiv.

5/2/2013 of 94


Key Intelligence Topics

Key FindingSources

Implications for Colombia Sportswear Co.

PRIORITY: A HIGHEST IMPACT

1. Market developmentStrategy Models

Marketing and Trends

Redefining the brand through advertising

2. Market PenetrationStrategy Models


Expanding into new markets

3. Innovation & Development

Value Chain

Patent analysis

Strategy Models

Competing through superior functionality and assessing that strategies profitability in this market.

4. Stagnant Economic GrowthFinancial analysis

STEEPMay cause reduction in sales if prolonged.

Key FindingSources








5/2/2013 of 94


Company Overview

Executive SummaryColumbia Sportswear is a strong company, attracting audiences to their luxurious products even in tough economic times, reaching record highs in salesv. Their expansion is consistent even in the uncertain economy. Their strong business plan is based on technology, this innovation is a big investments and thus and large gamblevi. This Risk is countered by the versatile in background and ideas, present on the board of Directorsvii. Rising materializes costs have been seen to problematic for the retail market, this phenomena will soon be effecting Columbia’s profit margins; in this changeling field, flexibility will be keyviii.

1) Corporate strengths :

a) Profitability; as seen in the record high sales of the past two years.(see financial report)

b) Diversely of ideas in board; spawned from their diverse backgrounds. (see management assessment)

c) Strong leadership; in that the direction of the company is focused on continuing to achieve goals in their current manner (see marketing)

d) Diversified market, specialized production; this will attract consumers even as prices rise. (see product portfolio)

2) Corporate weaknesses/potential challenges:

a) Future of company very closely tied to the future of the Boyle family. (see management)

b) Luxury item, niche market; this is a vulnerability in a changing market. (see product portfolio, and marketing)

c) Production outsourced, the changing market may lead to non-absorbable cost increases. (see STEEP) (not held by company)

5/2/2013 of 94


Value ChainSummary:

Columbia is a truly global company. Their growth is substantial; with strong plans to expand. Their success is based on patents for innovative, functional fabrics and brand loyalty. Most other operations are externalized, and this leads to both high liquidity and vulnerabilityixx.

Supply Chain:

Inbound logistics

Accounting:xi

Externalized:

• Deloitte & Touche LLP independent registered public accounting firm for Columbia Sportswear Co.

Production:xii

Externalized:

• Products produced to company specifications by independent manufacturers located in 15 countries. (not US)

• Vietnam and China accounting for approximately 67% of 2008 apparel production

• footwear manufactured in three countries, China and Vietnam 99% of 2008 footwear production.

Production:xiii

Externalized:



• footwear manufactured in three countries, China and Vietnam 99% of

Operations:

Employment:xiv

• December 31: 3,163 full-time employees

♦ 1,737 in United States

♦ 985 in Asia

5/2/2013 of 94


♦ 320 in Europe

♦ 121 in Canada.

Sales and Marketing:

Stores are generally stand alone in larger communities, as opposed to a mall presence. While their locations are international, they are not as numerous as one would expect from such a large brand name.

Their strength is the reach of online retailer:

Available in fallowing languages and countries, where customers can directly order

Out bound logistics:

1.48 Billion annual sales 2011xv

Profit $77 million, or $2.26 per sharexvi

2009 profit $67 million, or $1.97 per share, $1.2 billion salesxvii

Human resources:

Employment:xviii



♦ 985 in Asia

♦ 320 in Europe

♦ 121 in Canada.

Infrastructure:

• Global Cooperate offices and Distribution Centers:

• All company holdings and property leases:

Headquarters:

14375 NW Science Park DrivePortland, Oregon 97229-5418United StatesPhone: 503-985-4000Fax: 503-985-5800

5/2/2013 of 94


History and backgroundSummary:

This is operated as a family company, regardless of their public stature. 63% of the company

remains with the Boyle founding familyxix. Gertrude Boyle's children may have been presented

with executive jobs, somewhat prematurelyxxxxixxiixxiiixxiv. The company has a strong focus on

innovation, and this may drive them to out preform, and out sell their competitors.xxv

Timeline

2012

•Apparel Magazine names Columbia as a top innovator

•US and Canada Columbia sponsored ski teams podium in events around the world

•Technologies developed: Omni-Wind® BLOCK, Omni-Freeze® ICE, Omni-Wick® EVAP

2011

•Columbia sponsors the US Frestyle Ski Team

•The Peak 2 Peak™ Jacket wins Outside ™

•Magazine's Gear of the Year award

•Technologies developed: Fluidpost® & Fludframe®, Insect Blocker®, Onmi-Dry® Ultrabreathable, Waterproof :OutDry

2010

•Forbes names Columbia one of the top 100most trustworthy

•Technologies developed: Omni-Heat® Thermal Reflective, Omni-Heat® Thermal Electric

•Columbia launches e-commerce

•Titanium® golf line introduced

•Technologies developed: Omni-Shield® Advanced Repellency, Omni-

5/2/2013 of 94


2009 Shield Blood 'N Guts®, Omni-Freeze® Advanced Cooling

2008

•Omni-Shade® Columbia's proprietary sun protection technology developed

•Columbia celebrates its 70th anniversary

•Official Sponsor of Team Columbia, former team High Road

2006

•Columbia acquires Montrail and Pacific Trail Products

•Available in 72 countries

2005

•Gert's autobiography, One Tough Mother, is released

•X Games official supplier 2002–2005

2004

•4 Star Distribution Center opens

•Columbia acquires Mountain Hardwear

•Company reaches $1 billion dollars in annual sales

2003 •Cambrai, France, Distribution Center opens

•5+ million visitors to website

2002

•Salt Lake City Winter Olympic Games: Official supplier to NBC Sports

•Eco-Challenge official provider 1996–2002

2000 •Columbia acquires Sorel

1998 •Company goes public

•Sydney Summer Olympic Games: Official supplier to NBC Sports

5/2/2013 of 94


1997

•Omni Dry®: High-performance moisture management technology developed

•Special Olympics: Official supplier to Team USA

1996

•Columbia Comfort System introduced

•PFG introduced

•Flagship store opens

1995 •GRT: Gear for Rugged Trekking and Travel line introduced

•America's Cup: Official sponsor to America3

1994

•Convert and Titanium lines introduced

•Lillehammer Winter Olympics Games: Official supplier to CBS Sports

•Rivergate Distribution Center opens

1993 •Footwear line introduced

1991 •Omni-Tech®: Columbia's proprietary waterproof-breathable technology developed

1986 •First Bugaboo™ Parka revolutionizes how downhill skiers dress

1985 •Sportswear line introduced

1984

•The Mother of all ad campaigns begins

•Youth line introduced

1982 •The Columbia Interchange System® is introduced in the Quad™ Parka

1975 •Columbia first to introduce Gore-Tex® parka

•Company goes international

1970 •Gert Boyle, a housewife, takes over the company because of her husband’s death at age 47xxvi

1960 •Gert Boyle designs first fishing vest

•Columbia Hat Company becomes Columbia Sportswear Company

5/2/2013 of 94


1938 •Columbia Hat Company established by Gertrude Boyle's parents when they fled Nazi Germany when she was 13.

5/2/2013 of 94

Top Management:Columbia holds a very specialized board of directors. The remarkably diverse

backgrounds are apparent, an expert for every field; mediated by the family core. Key members

of the board are older, but the rage of ages and the seemingly generational set up of power, leads

one to believe and change in this structure would not destabilize the company to any great degree.

• Gertrude Boyle xxviixxviii

• Chairwoman of the BoardEmployment:

• University of Arizona with husband (degree not found/completed)• House wife• President of her parents' company in 1970 after the death of her 47 year old• Husband and her refusal to sell the company for $1,400.• Trustee to Lewis and Clark College 1970 - present• Chairman of Columbia Sportswear Co. since 1983• Autobiography: One Tough Mother, was published in 2005• Compensation:• Salary$842,423• Total Annual Compensation$842,423• All Other Compensation (Stock) $66,601• Total Calculated Compensation$1,375,424• *Data is at least as current as the most recent Definitive Proxy.

• Timothy P. Boyle xxixxxx

• President and Chief Executive Officer• Employment:• The University of Oregon, BS Journalism• 1971 General Manager, started to help mother with family company while finishing

senior year of college• Director of Columbia Sportswear Co. since 1978• president and chief executive officer of Columbia Sportswear Company since 1989• 1999-N/A, Director of Widmer Brother Brewing Company• Interim Executive Vice President of Global Sales and Marketing since August 2012• Director of Craft Brewers Alliance Inc. since July 1, 2008• Director of Northwest Natural Gas Co. since 2003• Annual Compensation:• Salary $859,231• All Other Compensation (Stock)$28,289• Total Calculated Compensation $1,896,110

5/2/2013 of 94

• Murrey R. Albers xxxixxxii

• Total Annual Cash Compensation$43,500• Total Calculated Compensation$203,566• Background:• President and Chief Executive Officer of United States Bakery,1985• General Manager of Franz Bakery,1975• Independent Director of Columbia Sportswear Company since July 1993.

• Stephen E. Babson J.D. xxxiiixxxiv

• Employment:• Board of Directors since July 2002• chairs the Nominating and Corporate Governance Committee• Managing director in Endeavour Capital, a Northwest private equity firm, since April

2002.• Attorney at Stoel Rives LLP 1978• partner Stoel Rives LLP 1984 to February 2002• Stoel Rives LLP chairman July 1999 to February 2002.• Director ESCO Corporation• Director Columbus Foods• Director LLC• Director Little Red Services, Inc.• Director National Frozen Foods Corporation• Director New Seasons Market• Director Northland Transportation Company• Director Tidewater Holdings, Inc.• Director, SnapNames.com, Inc.1998-Present• Director, Golden Northwest Aluminum Holding Company, Inc.2002-Present• Director, Chairman of Nominating & Corporate Governance Committee and Member of

Compensation Committee Columbia2003-Present• Director, Chairman of Nominating & Governance Committee and Member of Audit

Committee ESCO Corporation2003-N/A• Director OVISO Manufacturing Concord, Inc.

• Sarah A. Bany xxxvxxxvi

• Total Calculated Compensation$161,988• Background:• Daughter of Gertrude Boyles• Board of Directors since 1988• 2001, \co-owner of Moonstruck Chocolate Company, Executive Vice President of

Brand Development• 1979 -1998,Columbia Sportswear Company, Director of Retail Stores

5/2/2013 of 94

http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?capId=8789773




• Andy Bryant xxxviixxxviii

• Total: $7,246,300• Background:• Columbia sportswear Director, 2005• 1981 as Controller for the Commercial Memory Systems Operation• Chief Financial Officer in February 1994• Senior Vice President in January 1999• Chief Financial and Enterprise Services Officer1999• Chief Administrative Officer 2007• Ford Motor Company• Chrysler Corporation.• Board of Directors of Synopsys, Inc. 1999 – 2005• Kryptiq Corporation and McKesson Corporation• Director of Creative at Red Bee Media Limited.• Chief Administrative Officer of Intel Corporation2007-2012• Executive Vice President of Technology, Manufacturing & Enterprise Services of Intel

Corporation, 2009-2012• Executive Chairman, Intel Corporation• Prior, Convera Corp.• Director, Kryptiq Corporation• 1999-N/A, Former Director, Synopsys Inc.• 2005-Present, Director, Member of Audit Committee and Member of Nominating &

Corporate Governance Committee, Columbia Sportswear Company• 2008-Present, Director, Chairman of Finance Committee and Member of Audit

Committee, McKesson Corporation• *Data is at least as current as the most recent Definitive Proxy

• Edward S. George xxxixxl

• Compensation: $192,701• Background:• President and Chief Executive Officer of Torrey Pines from 1980 to 1990• Columbia Sportswear Co. since 1989• banking industry1991 to 1998, financial Consultant• Director of First National Bank of San Diego until its sale in September 200• Director of Columbia Sportswear Company since 1989.• Director, Chairman of Audit Committee and Member of Nominating & Corporate

Governance Committee, “audit committee financial expert.”, Columbia Sportswear Company

• Walter T. Klenz xlixlii

Compensation:$183,418• Background:

5/2/2013 of 94











• Managing Director of Fosters Group Ltd & Foster's Wine Estates since 2001• Former Director and Director of America West Holdings Corporation, America West

Airlines LLC• 1996-N/A, Former Chairman of the Board, Chief Executive Officer and President,

Beringer Wine Estates Holdings, Inc.• 1998-N/A, Former Director, Member of Compensation & Human Resources Committee

and Member of Corporate Governance Committee, US Airways Group, Inc.• 2000-Present, Director, Member of Nominating & Corporate Governance Committee

and Member of Compensation Committee, Columbia Sportswear Company• 2005-Present, Director, Member of Audit Committee and Member of Nominating,

Compensation and Corporate Governance Committee, Vintage Wine Trust Inc.• America West Airlines LLC• Beringer Wine Estates Holdings, Inc.• US Airways Group, Inc.• Foster's Group Ltd.• Treasury Wine Estates Americas Company• Tulane University• Vintage Wine Trust Inc.

• Ron E. Nelson xliiixliv

• Total compensation: $150,681• Background:• Vice President of NIKE, Inc. from 1982 to 1997.• Joined NIKE, Inc. in 1976• president of NIKE’s Japanese subsidiary from 1995 to 1997• 2011-Present, Director and Member of Audit Committee, Columbia Sportswear

Company

• John W. Stanton xlvxlvi

Total compensation: $282,599• Columia Sportswear , 1997• Former Chairman, Growth Technologies International, Inc.• Co-Founder, Chief Executive Officer, Partner, and Chairman, Trilogy Equity Partners• Director, Firethorn Holdings LLC• Co-Founder and Chairman, Trilogy International Partners, LLC• 1988-N/A, Former Director, Interpoint Corp.• 1989-Present, Director, Member of Audit Committee and Member of Nominating &

Corporate Governance Committee, Advanced Digital Information Corporation• 1990-N/A, Former Director, Member of Compensation Committee and Member of

Audit Committee, Lin Broadcasting Corp.• 1992-N/A, Former Chairman of the Board and Chief Executive Officer, Western

Wireless Corporation• 1997-Present, Director, Member of Audit Committee and Member of Nominating &

Corporate Governance Committee, Columbia Sportswear Company

5/2/2013 of 94
































• 1998-N/A, Former Chairman of the Board, T-Mobile USA Inc.• 2000-Present, Chairman and Chief Executive Officer, Omnipoint Corporation• 2000-N/A, Former Director, 360networks, Inc.• 2004-Present,Independent Non Executive Director and Member of Audit Committee,

Hutchison Telecommunications International Ltd.• 2006-2007, Former Director, Alltel Corporation• 2008-N/A, Former Director and Member of Audit Committee, Clearwire Corporation

Prior to Reverse Merger with WiMax.com Broadband Solutions, Inc.• 2008-Present, Executive Chairman and Chairman of Strategic Committee, Clearwire

Corporation

5/2/2013 of 94











Products and Services• For visuals see appendix

Brand Portfolio:

1.Columbia Sportswear ® : xlvii

Colombia cloths are aimed at the upper middle class, families with children who enjoy winter sport, such as skiing and snowboarding. This trend is made apparent by the extensive children and toddler lines. Making causal winter sports comfortable, and appeasing enthusiasts alike. This line is functional fashion, bright colors, and unique patterns, tailored to flatter. It is apparent that while marketing for this line highlights functionality, the target audience would not need survival level equipment. The accessories available are targeted for everyday use; day away rolling bags, and school ready backpacks. The gear portrays that this line is not meant for the daring adventurer’s survival; rather the common Man's comfort in his modest outdoor pursuits.

“Technology”:

Omni-Heat Reflective Make Your Own Heat

Omni-Heat Electric Heat on Demand

Omni-Freeze Ice Sweat Activated Cooling

Omni-Freeze Advanced Cooling

Insect Blocker Keep Bugs at Bay

Omni-Shi eld Blood 'n Guts Resist and Release Blood and Guts

Techlite Lightweight Performance

Omni-Grip Advanced Traction

5/2/2013 of 94

http://www.columbia.com/Omni-Grip/Technology_Omni-Grip,default,pg.html

http://www.columbia.com/Techlite/Technology_Tech-Lite,default,pg.html

http://www.columbia.com/Omni-Shield-BLOOD-%E2%80%98N-GUTS/Technology_Bloodnguts,default,pg.html

http://www.columbia.com/Omni-Shield-BLOOD-%E2%80%98N-GUTS/Technology_Bloodnguts,default,pg.html

http://www.columbia.com/Insect-Blocker%C2%AE-Apparel/Collection_Insect_Blocker,default,pg.html

http://www.columbia.com/Omni-Freeze/Technology_Omni-Freeze,default,pg.html

http://www.columbia.com/cooling/Collection_Omni-Freeze_ICE,default,pg.html

http://www.columbia.com/null/Technology_Omni-Heat_Electric,default,pg.html

http://www.columbia.com/Omni-Heat-Reflective/Technology_Omni-Heat_Reflective,default,pg.html

Fluidpost & Fluidframe Smooth Transition and Stability

Outdry Water Not Included

Omni-Wind Block Breathable Windproof

Omni-Dry Ultrabreathable Waterproof

Omni-Tech Waterproof Breathable

Omni-Shield Advanced Repellency

Omni-Wick Evap Wicking Accelerated

Omni-Wick Advanced Evaporation

Omni-Shade Sun Protectio

see patent analysis

5/2/2013 of 94

http://www.columbia.com/Omni-Shade/Technology_Omni-Shade,default,pg.html

http://www.columbia.com/Omni-Wick/Technology_Omni-Wick,default,pg.html

http://www.columbia.com/Collections/Technology_Omni-Wick_Evap,default,pg.html

http://www.columbia.com/Omni-Shield/Technology_Omni-Shield,default,pg.html

http://www.columbia.com/Omni-Tech/Technology_Omni-Tech,default,pg.html

http://www.columbia.com/Omni-Dry/Technology_Omni-Dry,default,pg.html

http://www.columbia.com/null/Technology_Omni-Wind_Block,default,pg.html

http://www.columbia.com/OutDry-Waterproof-Breathable-Gloves-Footwear/Collection_Outdry,default,pg.html

http://www.columbia.com/Fluidpost%C2%AE-Fluidframe%C2%AE/Collection_Fluidpost_Fluidframe,default,pg.html

2. Mountain Hardwear® xlviii

It is obviously apparent that unlike the flag ship brand, Mountain Hardware is based on utility,

rather than fashion. There is a proud link that states “shop alpine climbing”, which perfectly illustrates the audience this brand is for. Weather proof pants, base layers and coats designed for survival in the most extreme conditions are marketed here. As well and all the other survival gear you may need, such as tents and rock-climbing accessories. There are a wide variety of tents ranging from Bivvies’ (a sort of sleeping bag cover) to high altitude mountaineering shelters, which in fact look more like plastic igloos than tents and are cable of providing shelter for months in the worst conditions.

3. Sorel® xlix

High end, yet functional, Sorel is the meeting of fashion and utility. This line is renowned for their durability and functionality. From the fashion forward water proof boots, to stylish loafers, to the well-designed children’s line; these products are well crafted and alluring, securing their marketability. This brand has considerable brand loyalty that will ensure their security in the future.

4. Montrail®:

“Create and deliver the best fitting high-performance, and high quality footwear for outdoor and endurance enthusiasts.”l Montrial is a brand meant for those who like to enjoy their outdoor activity closer to home, the joggers and park walkers. These shoes are for those who require shoes that will last them through a marathon or 10 marathons. Naturally there is high pressure from other brands, namely NIKE, for the serious sneaker wearing consumer.

5.Pacific Trail®

“The casual enjoyment of the outdoors”li For casual wear to water gear, Pacific Trial is a family centered brand aimed at making clothes that will survive outdoor tomfoolery. To fully prepare all comfort conscious families, on their summer expeditions. This brand has a strong children’s line and their own jackets. This diversity should help them remain stable in the long term.

5/2/2013 of 94

Marketing activities and trends

Marketinglii:

Summary:• The proceeding programs are in fact, empathy causing marketing campaigns,

proudly displayed on the Columbia website. The fully represent the tactic where one convinces their consumer that in purchasing unnecessary or frivolous products, they are in fact contributing to a better world, as opposed to treating themselves”liii. Far more effective than pop-up ads in my personal opinion, although these too are utilized on popular sites such as Pandoraliv.

Values & Membership: We Encourage:• Reduce• Reuse• Recycle• Purchasing Recycled• Chemical Reduction• Energy Conservation • Outdoor Industry Association: Eco Working Group.,

Bargaining group to greater impact on environmental issues.

• Environment and Product Safety Committees in American apparel and footwear association: “sharing expertise and best practices.”lv

Women's Rights: • HERproject: Sex-ed for adults (manufacturing workers); “60% increase in the number of prenatal medical visits among workers as well as a 41% increase in knowledge of STD symptoms.”lvi

EnergyManagement: • 2009, 100 KW grid-tied solar electric system, 70 photovoltaic (PV) on Headquarters building, reduce carbon impact 2,002 in 25 yrs.

• “Our Rivergate Distribution Center implemented an Energy Management System that reduced conveyor belt energy usage by 23%. The Energy Management System consists of two projects; 1) installing programming logic code to enable ‘sleep mode’ for conveyor belts , and 2) installing Variable Frequency Drives (VFD)”

• “Our Computerized Lighting Control Management System at Headquarters shuts off lights when not in use, including after hours, weekends and holidays.”

• Portland Flagship and Seattle stores LEED citified for

5/2/2013 of 94

Retail Commercial Interiors Certification.• Outlet stores, energy-efficient lighting

Material conservation: • 2010, “print release” system at Headquarters, decreases traditional print waste and default to double-sided printing

• Our Restricted Substance List (RSL)• To protect workers, the environment and consumers

from harmful substances.• Comprehensive up-to-date RSL and require our

suppliers to comply with these principles.• Techlite™• Manufacturing process 5-10% EVA , conventional 30-

40% waste.• Water-Based Adhesives -• Chemical solvent-based adhesives emit Volatile

Organic Compounds (VOCs) Water-based adhesives virtually eliminate emission of VOCs.

• Perimeter Stitch Technology -• Perimeter Stitch Technology is a method of stitching an

EVA midsole to the shoe upper, reduces the use of adhesives by almost half, reduction of VOCs.

• Recycled Polyester -• Processing polyester synthetic fiber from recycled

materials instead of petroleum decreases the need to mine non-renewable resources.

• Color-Core™ -• Synthetic fabric dying process that uses 80% less water

than conventional dying processes.

5/2/2013 of 94

Trends:

Production costs, and material costs are raising, squeezing profit margins of retailers across the market.lvii In the new dynamic shift efficient production secrets will be more coveted as the race to do more with less is rejuvenated.

Remarkable consumer appetite for nonessential high priced items dispute market weakness, at least in relation to high technology clothing like Under Amor and Columbia, will be extremely beneficial. lviii While high priced high fashion is facing a fall off, the economy has not spurred the interest in utility provided by higher quality sportswear.

Consumer protection after wake of the Supreme Court decisions in Concepcion and Wal-Mart. The gender discrimination suit against Wal-Mart was overruled. Conception trial of false advertising on “free cell phones” was ruled out of order; least there is a violation of law caused by the misconceptionlix.

California's Proposition 65 consumer warning law: Resulting with a suit involving fashion accessories. Adding to the raising importance of testing, as plaintiffs' counsel continue to target the fashion industry.

Payment methods are diversifying gift cards, credit cards, and mobile payment systems. Dodd-Frank may potentially the force to impact, responsible consumer credit lineslx.

“Insurance coverage and indemnification to cover these risks, including mitigating potential risks created by franchisees and third-party vendors” lxi

5/2/2013 of 94

Operations/CapacitiesSummary:

Columbia is a truly global company. Their growth is substantial; with strong plans to expand. Their success is based on patents for innovative, functional fabrics and brand loyalty. Most other operations are externalized, and this leads to both high liquidity and vulnerability.

Supply Chain:

Inbound logistics

Accounting:lxii

Externalized:

• Deloitte & Touche LLP independent registered public accounting firm for Columbia Sportswear Co.

Production:lxiii

Externalized:



• footwear manufactured in three countries, China and Vietnam 99% of 2008 footwear production.

Production:lxiv

Externalized:



• footwear manufactured in three countries, China and Vietnam 99% of

Operations:

Employment:lxv

5/2/2013 of 94



♦ 985 in Asia

♦ 320 in Europe

♦ 121 in Canada.

Sales and Marketing:

Stores are generally stand alone in larger communities, as opposed to a mall presence. While their locations are international, they are not as numerous as one would expect from such a large brand name.

Their strength is the reach of online retailer:

Available in fallowing languages and countries, where customers can directly order

Out bound logistics:

1.48 Billion annual sales 2011lxvi

Profit $77 million, or $2.26 per sharelxvii

2009 profit $67 million, or $1.97 per share, $1.2 billion saleslxviii

Human resources:

Employment:lxix



♦ 985 in Asia

♦ 320 in Europe

♦ 121 in Canada.

Headquarters:

14375 NW Science Park DrivePortland, Oregon 97229-5418United StatesPhone: 503-985-4000

5/2/2013 of 94

Fax: 503-985-5800

5/2/2013 of 94

StrategiesSummary:

As out lined in their annual investor report, the company has a few key strategies for the

following year, namely further innovation in fabrics and a marketing campaign to young fashion

forward women. Product differentiation and brand diversity are historic strategies they wish to

continue. Columbia also has a lucrative policy of out sourcing their production to the lowest

bidder, allowing for increase liquidly.

Inspire brand loyalty:

Product differentiation to match their near exorbitant prices, a casual line. Highlighted in their 2012 letter to investors, they seem to be angling the product line to be supported by fashionistas, to support the brand with their spending habits

Hands off manufacturing:

Innovation of fabrics in the US within company.

Manufacturing at the lowest price, by independent companies; generally abroad.

Sales through independent stores.

Dividing names brands to target different markets * (see product analysis)

Diversification came about by the purchasing of smaller companies. The result in

a strong diverse consumer base where tough clothing from innovative fabrics, are

not only applicable but adored.

5/2/2013 of 94

5/2/2013 of 94

General Financial PerformanceSummary:

Sales in 2011, were 1.48 billion; up from 1.2 billion in 2009. This translates into a stock value

increase of $4 in the last 4 years despite economic uncertaintieslxx. Second quarter earning show

that revenues are up from 2011; $290.4 compared to $268.0 million. lxxi

Basic Stock Informationlxxii

Market Cap. (Mil) $ 1,831.54Shares Out (Mil) 33.80Float (Mil) 12.26

Share Related information provided by MorningStar, Inc.

Financials of skiingCosts of skiing:

◦Skiing pass:▪$450 adult,▪$250 Child

◦Skis:▪$1,000 to $600 a pair

◦Columbia jackets:▪$400 Adult▪$200 Child

◦Columbia base layer:▪$100 Top▪$75 Bottom

◦Columbia snow pants:▪$ 200 Adult▪$100 Child

Total costs for a family of four: $7,200

Key competitors for Columbia Sportswear:

Under Armour:

Sportswear Market leaderlxxiii

5/2/2013 of 94

NIKE

Sports shoe Market leaderlxxiv

Jeep : The allure of buying into winter sports may not be as tempting for families as it once was. For the outdoor appreciating family there are now generous incentives to use their limited budget elsewhere, instead purchasing an American made outdoor friendly car.

Jeep:Cost:27,695Recommended 20% down payment: $5,539

Steady increase in sales, and Stock Value.lxxv

5/2/2013 of 94

Current Events & Recent Key eventsDate: Event:

August 7th 2012 Announced that it intended to expand brand sales in China.lxxvi

July 31st 2012 Introduced Omni-Freeze™ Zero Active Cooling Technology at Outdoor Retailer Summer Market trade show.lxxvii

July 26th 2012 Second quarter earnings:

Consolidated net sales increased 8 percent to $290.4 million, compared with second quarter 2011 net sales of $268.0 million.

Net loss totaled $7.9 million, or $(0.23) per diluted share, compared with second quarter 2011 net loss of $13.6 million, or $(0.40) per diluted share.

Fiscal 2012 outlook anticipates sales growth of up to 1 percent and operating margin (including a $4.0 million pre-tax first quarter restructuring charge) comparable to fiscal 2011.

The board of directors approved a quarterly dividend of $0.22 per share, payable on August 30, 2012 to shareholders of record on August 16, 2012. lxxviii

January 27 2011 New record high for sales, $ 1.48 Billion. lxxix

5/2/2013 of 94

Porter’s 4 Corners model:

Future Goals:

•Expansion of Brand to new Markets

•Acquisition of smaller popular brands

•Further product differentiation

Current strategy:

•Innovative materials

•Market to new consumers

•Assembled in the most cost effective environment

Response Profile:

Likely to expand into developing markets. Looking to attract more devoted consumer fallowing.

Vulnerabilities: dependent on independent manufactures maintaining their price advantage

Assumptions:

•The Boyle family will remain united in all goals.

•Timothy P. Boyle will inherit company with no opposition from his sister Sarah A. Bany.

•Assumes that it will continue to make innovative products and discoveries, at competitive rate to market.

Capabilities:

•Innovation at competitive rates

•Competitive pricing

•High functioning products

•Marketing

•Expansive distribution network

•High liquidity

Executive summary:

Colombia seeks to continue the increase in sales it has shown in the last few years despite the fragility of the economic climate. This will require an expansion of the consumer base. This endeavor will be achieved in a number of manners; expanding to new markets, such as China;

5/2/2013 of 94

new marketing initiatives, acquiring brands to attract previously uninterested parties. The risk steams from these processes’ reliance on a greater investment; this may be offset by the already low amount of money tied up in the manufacturing.

5/2/2013 of 94

Future goals: Columbia’s near-future goals are to expand by appealing to new consumer bases;

including a more devout consumer base, domestically, “fashionistas”, or new markets entirely in

developing economies. The slowly recuperating economy will impede these endeavors to some

degree, but the record setting success of the last two years is reassuring.

Current strategy: Columbia strategies focus on fortifying sales in an uncertain economy. To

accomplish this goal Columbia is focusing on remarketing their brand to a devout consumers as

well as expanding market base by entering developing economies.

Assumptions: The current cooperation at Colombia Sportswear, may prove to be a serious

vulnerability. Should their ever be infighting in the Boyle family, it would prove detrimental to

the company, considering their considerable influence on the company. Columbia Sportswear is

supported by their patents, should they become unable or tardy in their innovations, they

company would solely rely of on their consumer loyalty. This strengthens the importance of

differentiating their product.

Capabilities: Colombia’s strength are centered in their competitive prices, to maintain this

advantage means ensuring the production remains efficient and able to adapt to the continual

pressures of the market. To accomplish this will require reinvesting in research at all levels of

production.

Analytical Confidence: Analytical confidence in this estimate report is Moderate. This is due to

the lack of expertise of the analyst and the high reliability of the sources.

5/2/2013 of 94

STEEP:

Macro-environmental Analysis

STEEP Analysis Matrix of the United States

Social Technological Ecological Economic Political

Decline of status symbols on innovation

Specialized Marketing and

Technology

Endlife of Products

Food & Gas Price Increases

No Preference to US

Products

Value loyalty marketing

Alternate Purchasing

Options

Energy Management

Unemployment

Below 8%

China as expanding consumer

market

Niche style Marketing vs. Broad fashion

Mobile point of sales

Workers’ rights

The instability of debt inducing

consumer habits

Resent legislation on

consumer protections

S: Social

Decline of high priced status symbols in a depressed economy’s effect on Innovation and it’s

hefty budget.lxxx lxxxi The profitability of innovation may be declining, as the production cost

may not be able to be reclaimed in sales. Status symbols don’t resonate well in hard

economic times.

5/2/2013 of 94

Implications:

The high price of Columbia wear is due to the research and production costs of the

advanced fabrics, this may work to difference them from the high priced fashion

brands, that do poorly in this economic climate.

High value should be placed on Loyalty Marketinglxxxii

Emotional links with customers so that frivolous purchases will seem like

necessities.

Columbia is ahead of the curve, empathy causing marketing campaigns, proudly

displayed on their website. The fully represent the tactic where one convinces their

consumer that in purchasing unnecessary or frivolous products, they are in fact

contributing to a better world, as opposed to treating themselves”lxxxiii.

Implications:

The product is now specialized, this strong bond with a niche of consumers may

alienate others, but could create loyal buyers who could caring the brand through

tough economic times.

Niche style Marketing vs. Board Fashionlxxxiv

This information age is all about options, this can be clearly seen in the retail world.

Companies separate themselves from their competitors by marketing certain styles.

People want cloths that aren’t one size fit all clothing. They prefer diversity and

options. The NIKE design your own sneaker has been very popular.

Implications:

Perhaps Columbia should consider allowing consumers to add their own touch to

their modest and highly functional products.

T: Technology:

5/2/2013 of 94

Specialized Marketing

Social media and business:lxxxv: Social media is merging business with

costumers allowing for feedback and update on your favorite brands.

Costumer service has redefined in the internet age, one on one chats on the

website, have made the solutions to any query by a consumer

instantaneous.lxxxvi

The increase of technology has allowed business to directly reach their

consumers, phone apps is one of these methods. Companies can design short

games, or in the case of NIKE workout aids, that advertise you brands.lxxxvii

Personalized marketing is gathering the information of an individual’s

internet preferences lxxxviii

Implications:

Perhaps Columbia should consider developing an app, a skiing gameperhaps, to

further propel their relevance with the younger generation.

Alternate Purchasing Optionslxxxix xc

Online shopping is rising in popularity, disputed negative predictions of the

last decade.

Implications:

As this is a raising trend, continuing to expand their online services maybe beneficial;

especially if there are negative consequences still to be felt from the economic

stagnation.

Mobile point of sales

(PoS) tech patented in 2004xci xcii; the credit card reader that is compatible with a

smart phone.

5/2/2013 of 94

It has seen positive results at Apple stores; costumers feel more comfortable only

having to deal with one person.xciii

Implications:

This may be applicable to the many of Columbia’s lines, having one expert guide to

through the process of getting everything you’ll need for a ski trip or an expedition,

may be the sort of edge to further differentiate the product.

E: Ecological:

Endlife of productxciv

Companies are focusing on the end life of their product. Gap has a trade in policy for

their jeans; then they recycle the denimxcv. environmental differentiation marketing

Our clothes are environmentally constructed, but what will eco-conscientiously

minded consumers feel about the disposal of our synthetic products?

Implications:

Perhaps the development of an endlife program would be beneficial to maintaining

the environmentally conscientious image, that has been so strong portrayed in our

marketing campaign.

Energy management xcvi

Businessweek announces the trend in energy management, for marketing and

economic conservation purposesxcvii.

5/2/2013 of 94

Trends toward solar energy, energy management systems; env. protect and

government incentives, global standardized certificate for energy

Ahead of the curve:

• 100 KW grid-tied solar electric system, Headquarters building

• Rivergate Distribution Center, Energy Management System

• Computerized Lighting Control Management System, Headquarters

• Portland Flagship and Seattle stores LEED citified for Retail Commercial

Interiors Certification.

• Outlet stores, energy-efficient lighting

Implications:

As there is a raising trend, perhaps it would be prevalent to advertise not only the

ongoing Environmental project, but how long the company has been supporting

environmental efforts. If there were any way to expand the ongoing projects

Workers’ rights

Raise social awareness/empathy for the treatment of workers

A few day after launch Apple’s I pad –mini is facing a crippling law suit over the

abuse of Laborersxcviii

HERprojectxcix: Education for female workers regarding women’s health.

Implications:

In tough economic times consumers look for cheaper goods, and thus the

responsibility and blame for the quality of life of the labors that make the consumer’s

products, falls to the company. Where in strong economic times, consumer would

simply change brands, if they had an ethical dilemma with production.

5/2/2013 of 94

E: Economic:

Food and Gas Prices raising

IMF says prices are rising globally affecting the ability of some to maintain their

quality of life, far more dangerous to othersc

Food and gas prices are not considered in the inflation equation, thus the cost

of living is rising. American standard of living dropping.ci

Implications:

Columbia has already adopted extensive material conservation polices, in the name

of their environmental platform (see marketing). Expanding these practices may have

an economic benefit if material costs continue to raise.

Unemployment down below 8% for the first time sence the great recessioncii

This is a landmark for the recovery of the American economy.

This increases the numbers of potential consumers.

Implications:

This progress if continued would continue to increase already recode high sales. If so

the revenues may be able to counteract the raising material costs.

The Instability of Debt including consumers habit:

US citizens are spending more are unnecessary items than Germany, this will cause

debt and less spending in futureciii

Implications:

5/2/2013 of 94

Encouraging smart spending habits, such as layaways with monetary payments, for

large preaches, will allow the fiscally responsible customers to purchase items guilt

free, and the enthusiast to purchase items without negatively affects their ability to

purchase items in the future.

P: Political:

No preference to US productsciv

Tough economic times, lead people to want the least expensive options despite

nationalist tendencies.

Implications

Columbia’s strategy to manufacture cheaply overseas will be beneficial in this

climate, and may raise revenues.

China as expanding as Consumer Market cv

China is shift for 4th to 5th gen leadership, who want to open them up

economically.cvi

Implications

This is a large vastly untapped market, while Columbia’s internet relator is already

active in the region in may be in the company’s best interest to expand the presence

in the country.

Resent rulings on costumer protections:

California's Proposition 65 consumer warning law: Resulting with a suit

involving fashion accessories. Adding to the raising importance of testing, as

plaintiffs' counsel continue to target the fashion industry.

Dodd-Frankcvii

Implications:5/2/2013

of 94

Corporations have to be very careful in this economic climate, warning lables should

be use when there is the slightest possibility of confusion, products should be tested

for safety thoroughly and Brands should be aware that they are going to be treated

with distrust.

5/2/2013 of 94

Patent analysis:Key points:

Other companies will buy technology they can’t produce but can afford because they’re

bigger, so predicting their lines will be predicting their purchases.

Columbia Technology is efficient but not flashy; there is no obvious way to illustrate the

research that went into the garment visually.

Serious warm-weather athletes is a untapped market by the Columbia lines.

5/2/2013 of 94

Coldblack®cviiicix:US patent: 79058430

Publication Date: 7/28/2009

Assignee: SCHOELLER TECHNOLOGIES AG

Abstract:

Coldblack technology, which enables dark-colored fabrics to reflect rather than absorb the sun's rays, offers dual protection from solar heat and ultraviolet (UV) rays. According to Schoeller and Clariant, textiles treated with Coldblack reflect up to 80 percent of heat rays and are guaranteed to offer a minimum UV protection factor of 30. The technology is bluesign® approved and meets Oeko-Tex® Standard 100, class I-IV requirements.

Implications:

Used by Under Amour, in their warm weather line. A source of revenue from serious summer athletes a market Columbia has no hold in. This market would include most colligate athletes, and may be a profitable investment; however entrance into the market would not be easy.

5/2/2013 of 94

Garmentcx

US patent: US20120210487A1

Publication Date: Aug 23, 2012

Assignee: Nike, Inc.

Inventor: Shaun Albin

Abstract:

A garment may be formed from a stretchable material. Various portions of the garment may contain imprinted ink. Elasticity of the garment fabric is reduced in the regions onto which the ink has been printed, thereby providing a support and/or a feeling of support to certain muscles and/or muscle groups.

Implications: Specialized pattern is a bold fashion statement, which means brand recognition. Columbia products are modest in their designs, so where one purchased their garments will not be apparent. We must also take into consideration the claim of advance utility, if this design really causes, improved comfort and mobility in may prove to be a strong seller in the long run. However just the fact that it looks like it is specially made will attract consumer, who want to appear specialized.

5/2/2013 of 94

Layered Thermoplastic Non-Woven Textile Elementscxi

US patent: US20120227282A1

Publication Date: Sep 13, 2012

Assignee: Nike, Inc.

Inventor: Bhupesh Dua

Abstract:

A layered non-woven textile may be incorporated into various products, including apparel. The layered non-woven textile may be formed from a first layer and a second layer. The first layer is formed from a plurality of first filaments that include a first thermoplastic polymer material with a first melting temperature. The second layer is located adjacent to the first layer and secured to the first layer. The second layer is formed from plurality of second filaments that include a second thermoplastic polymer material with a second melting temperature. The first melting temperature is lower than the second melting temperature.

Implications: The no weave textile element above, are key in NIKE wear’s warm weather sport line. If there was movement to enter such a field there would be a need to replace such a process.

5/2/2013 of 94

Cellulosic Substrates with reduced absorbent capacity having the capabilitycxii

US patent: 7008887

Publication Date: Mar 7, 2006

Assignee: Cotton Incorporated

Inventor: William A. Rearick

Abstract: The present invention relates to cellulosic substrates with reduced absorbent capacity having the capability to wick liquids, as well as to methods of manufacturing such cellulosic substrates. The cellulosic substrates provided by the present invention comprise an inside and an outside connected to the inside. The inside comprises cellulosic fibers and has a reduced absorbent capacity, and the outside comprises cellulosic fibers. The outside may have a reduced absorbent capacity and may have an absorbent capacity higher than the inside. The cellulosic substrate is capable of wicking liquid contacting the inside of the substrate to the outside of the substrate.

Implications: Used by NIKE is their warm weather clothing, to help dry you in the heat. This would be non-applicable to winter sports as cotton doesn’t function well in cold weather. However it is a “natural” fiber, as Columbia markets to the environmentally minded, adding a line of less effective natural fibers may be beneficial.

5/2/2013 of 94

Temperature responsive smart textilecxiii

US patent: 8187984

Publication Date: May 29, 2012

Assignee: Malden Mills Industries, Inc.

Inventor: Moshe Rock

Abstract:

A textile fabric includes a smooth surface with one or more regions having coating material exhibiting thermal expansion or contraction in response to change in temperature, adjusting insulation performance of the textile fabric in response to ambient conditions.

Implications: This patent could be a defining addition to Columbia products, to have transitionary gear for hot and cold weather.

5/2/2013 of 94

Waterproof moisture-permeable underwear and waterproof moisture-permeable liner cxiv

US patent: US20120227164 A1

Publication Date: Sep 13, 2012

Inventor: Noriko Komoriya

Abstract: Disclosed is waterproof moisture-permeable underwear by which the scope of choices for a material can be widened, and the waterproofness in junction areas can be improved so that staining of an outer garment with urine or menstrual blood leaked from undergarment can be surely prevented. A waterproof moisture-permeable underwear to be worn between undergarment and the outer garment worn on the lower body is constructed by joining a plurality of two-layered fabric pieces (A), each comprising a base fabric (B) disposed facing the undergarment and a waterproof moisture-permeable membrane (C) laminated on a surface of the base fabric (B) facing the outer garment, in junction areas; wherein a material superior to the membrane (C) in texture is selected for the base fabric (B); a material superior to the base fabric (B) in welding property is selected for the membrane (C); and the junction areas (21A-21F) are formed by welding.

Implications: This is a newly produced patent, no parent company in looking to put this into product. This could be a lucrative acquisition, should the base layer produced be more effective than our own lines, or simply to keep this technology off the market.

5/2/2013 of 94

Heat management systemUS patent: 20120074128

Assignee: Columbia Sportswear North America, Inc.

Inventor: Blackford, Michael E. "Woody"

Abstract:

Embodiments disclosed herein relate generally to the field of outerwear, and more particularly to a heat management system configured to provide heat to one or more predetermined regions or zones, such as the upper or lower body, torso, chest, back, neck, arms, shoulders, wrists/cuffs, hands, fingers, feet, toes, and the like. In various embodiments, these heating zones may be controlled by an actuator switch and control electronics that may allow individual heating zones to be actuated alone or in combination, and in some embodiments, in a predetermined sequence. Some embodiments of the actuator switch may include color-coded lighting elements that may indicate the current temperature, zone activation, heating program, and the like.

Implications: This will further supplement our brand’s renowned functionality. It is especially important because such designs are not commonly see in the market and it will set us apart when consumers go to purchase coats.

5/2/2013 of 94

Holographic Patterned Heat Management Materialcxv

US patent: 20110203783

Publication Date: August 25, 2011


Inventor: Blackford, Michael E. "Woody", Mergy, Jeffrey

Abstract:

Currently, heat reflective materials such as aluminum and mylar typically take the form of a unitary solid film that is glued or otherwise attached to the interior of a garment, such as a jacket. The purpose of this layer is to inhibit thermal radiation by reflecting the body heat of the wearer and thereby keeping the garment wearer warm in colder conditions. However, these heat reflective linings do not transfer moisture vapor or allow air passage, thus they trap moisture near the body. Because the application of a heat reflective material impedes the breathability and other functions of the underlying base fabric, use of heat reflective materials during physical activity causes the inside of a garment to become wet, thereby causing discomfort and accelerating heat loss due to the increased heat conductivity inherent in wet materials. Further, these heat reflective coated materials impair the ability of the material to stretch, drape, or hang in a desired fashion.

Implications: This is the technology behind OMNI-HEAT. This product is marketed as a thinner jacket to prevent overheating, while the dots retained, reuse and reflect your body heat back at you. This is our strongest point in brand recognition at the moment. It only becomes apparent when the jacket is removed, but the metallic dots are notoriously noticeable.

5/2/2013 of 94

Zoned Functional Fabricscxvi

US patent: 20120015155

Publication Date: January 19, 2012


Inventor: Blackford, Michael E. "Woody”, Mergy, Jeffrey

Abstract:

Embodiments of the present disclosure relate generally to body gear having designed performance characteristics, and in particular to methods and apparatuses that utilize an array of performance characteristic elements coupled to a base material to direct heat, absorb heat, emit heat, and/or wick moisture while also maintaining the desired transfer properties of the base material. In some embodiments, two, three, four, or more performance characteristic elements may be included in a piece of body gear, for example in desired zones of the body gear.

Implications: The process of applying all the Columbia Sportswear innovational fabrics in to designs, while maintaining their trademarked qualities.

5/2/2013 of 94


Financial Ratio Analysis

Trend: 2011 2010 2009

Activity/Efficiency

Asset turnover ratio:

Sales(revenue)

Total assets

7.02 6.33 3.22

Average Inventory Investment Period:

Current Inventory Balance

Average daily costs of goods sold= (COGS/360)

78 Days 77 Days 65 Days

Accounts receivable:

Accounts Receivable

Sales (Revenue)

0.22 0.21 0.17

Leverage/Solvency

Debt to equity:

Total debt (long+short)

Total stockholder's equity

14.00% 13.00% 10.00%

Debt to assets:

Total debt (long+short)

Total Assets

14.00% 13.00% 11.00%

5/2/2013 of 94


Liquidity:

Current Ratio:

current assets

total current liabilities

3.9:1 3.9:1 5.1:1

Acid-test Ratio:

cash+ short term investments+ net

current receivables

Total current liabilities

1.4:1 2.0:1 2.9:1

Profitability: (%)

Return on assets:

Net income

Assets

9.80% 7.70% 7.20%

Return on equity:

Net income

Shareholder's equity

9.60% 7.60% 6.70%

Profit Margin Ratio:

Net Income

Sales (revenue)

14.07% 12.23% 12.78%

Capital market / Shareholders return:

Earnings per share (ESP):

(Net income-dividends on preferred stock)

Average outstanding shares

$1.08 $0.77 $0.68

5/2/2013 of 94


Project earnings, P/E Ratio:

Current market value per share

earnings per share (ESP)

$15.36 $26.98 $19.82

Executive Summary:

It appears that Columbia is taking large financial risks. The numbers above show stagnate

growth; however Columbia is pulling in record high sales. Showing that stagnation of

accumulative growth, is in fact active reinvestment, and has been very profitable. Illustrating that

investment can be worth the risk.

5/2/2013 of 94


Activity/Efficiency

Asset turnover ratio: This figure illustrates how well a business uses it’s assets to generate sales. The higher the number of the ratio, the more efficient the company is at this. A decline in efficacy would represent overinvestment in company assets.

This is trending positive, indicating that efficiency with our investment in plants, equipment and other developmental costs. Maintaining Colombia’s low investment strategy in manufacturing, would allow this number to remain positive.

Average Inventory Investment Period: This number represents the number of days before out flow can be converted to sales. Lower numbers represent less time and thus money invested into a project.

The rise in number here, is a rise in the cost and the length of time money is tied up. This circles back to the fact the current investments are effecting the availability of revenue.

Accounts receivable: This illustrates the percentage of sales that still needs to be used to pay off short term loans. The lower the number the more money may be kept, and utilized for other projects.

This number shows the increase payment time for sales, this may be due to the large increase in sales and the inability for the current structure to absorb the immediate costs. This means that the revenue unfortunate percent of revenue is money that cannot be used elsewhere.

Implications: It seems that Columbia has weighed the scales in their favor. While it takes investment longer to be repaid and they are holding on to short term loans longer, it seems the have found a system to become consistently more effect in raising the amount sales they can receive for every dollar spend. It’s no wonder they are breaking records for sales.

5/2/2013 of 94


Leverage/Solvency

Debt to equity: The raising in numbers illustrates and increase in debt.

Columbia is accumulating more long and short term debt. This development is a product of their reinvestment in their procedures, namely development and marketing.

Debt to assets: This shows the percent of the company financed by creditors. Increase of this percentage of instability for the company. However anything below the 50% line is seen as satisfactory because the debt could be paid out right in case of emergency.

The level is rising, but still far below the 50% line. This risk in still moderate and proving to be very profitable.

Implications: Debt is not necessarily a sign on financial frailty; rather it can be a sign of taking calculated risks to propel the development of the company. As I would propose is this case, given the drastic increase in sales.

5/2/2013 of 94


Liquidity

Current Ratio:

Assent over liabilities, illustrating how much you have versus how much you own, above 2:1 is seen as minimally healthy, below 1:1 will be unable to pay off debt if everything was liquidated.

Despite the negative trend in this field we are still more than able to pay off our debt, and far from to 2:1 marker. This illustrates that all risks taken by immediate strategies are manageable.

Acid-test Ratio:

This ratio measures highly liquid assets over debts. A 1:1 ratio is seen as minimally satisfactory.

This ratio is negative trend, getting close to bench mark of 1:1. This figure is rather worrisome, the ratio equaling 1:1 would result in a great vulnerability, that our immediate resources would be depleted should the investments fail.

Implications: Debt is increasing as the company’s ability to pay off debt is decreasing. It is possible this could be because of the percentage increase of debt over sales, echoing in other figures. If not, it is a troubling sign of financial gaps in the system that has been bringing in such great sales.

5/2/2013 of 94


Profitability:

Return on assets:

This is the percentage measure how well a company unitizes it’s assets to product revenue.

Raising number indicate how well we are utilizing our assets for profitability. This reflects on the success of our investments and their efficiency.

Return on equity:

This ratio illustrates the returns a company provides for it’s investors.

Positive trend measure the increase in returns. This measures the increase effectiveness of the investments we pursue. There is an increase in the profitability of the investments we have chosen as compared to previous years.

Profit Margin Ratio:

This number show the percentage of profit made on the sales of an item. In other words profit verses the cost of production.

We are increasing the amount of profit we make on every $1 of sales.

Implications: Columbia Sportswear is making more money on every dollar spent. This increase in efficacy is especially relevant because of the increase in debt; it shows the strong possibility of the debt being easily paid off.

5/2/2013 of 94


Capital market / Shareholders return:

Earnings per share (ESP):

This ratio shows increase in value of each share.

Positive trends show increased profitability of investment. This means that the company’s value has risen, and has been reflected as holding greater value in the market. Which is reflected in the individual shares.

Project earnings, P/E Ratio:

This ratio indicates the market price of one dollars of earnings.

Lower projections show uncertainty in continued success. The critiques and analyst’s are uncertain of the continued success of the company.

Implications: The stock holders will be very pleased with the steady increase in value of their respective investments. However the estimated growth of the company has leveled off so is not likely that this trend will continue.

5/2/2013 of 94


Strategy ModelsA. 9 forces model:

Entrants:

No Threat: Entrance price to market is high

No Threat: Marketing and establishing brand costly

Suppliers:

No Threat: Wide range of suppliers available

Substitutes:

Low Threat: Substitutes can mimic look but not performance

Buyers:

Low Threat: Long standing brand loyalty

Rivalry:

Low threat: Concentration, because of market growth, may be growing now that China is opening up

High Threat: Switching costs are low

Low threat: Diversity of products, range of target market

Political:

Low Threat: Consumer protection

No Threat: Election’s effect on

Economic:

Threat: Stagnated growth of economy

Threat: Inflation of material

Technology:

Low Threat: Online retailers

Low Threat: Customization/ Micro-

Social:

Low Threat: Social networking to reach customers

5/2/2013 of 94


business prices

Threat: Unemployment

Marketing

No Threat: Automated retail machines (gloves at ski lodges)

No Threat, Low threat, Threat, High threat

Exec summary:

Columbia’s highest threat comes from competition; the appeal of another brand is very dangerous due to switching costs being nonexistent and Columbia products often being sold at retailers that carry other brands.

Discussion:

Substitutes:

Low Threat: Substitutes can mimic appearance but not performance. This is protected continued innovation to be functionally superior to competition.

Buyers:

Low Threat: Long standing brand loyalty, reflected in high sales during recession. TO maintain these levels new consumers must be reached.

Rivalry:

Low threat: Concentration is now dispersing due to market growth. Largely untapped consumer markets are now opening up, including China. This will allow for market wide growth, and first mover opportunities.

High Threat: Switching costs are nonexistent, the whim and preference of the consumer dictates the sale. Maintaining sales means communing with consumers, building brand loyalty, and confidence in the functionality of the brand.

Low threat: Diversity of products offered by Colombia Sportswear is wide ranging from, casual camping gear, to skiing preparation, to arctic survival; however Colombia

5/2/2013 of 94


has neglected to design a line for serious warm weather athletes. Warm weather athletes are target market unreached by Columbia Sportswear, but occupied by their competitors, NIKE, and Under Armor. When branching out into new market it may be profitable to also expand to this audience.

Political:

Low Threat: In retaliation to the recession, consumer protections have been out lined in the Dodd-Frank reforms, pertaining to all markets. The problem it presents for Colombia Sportswear and other retailers is that, should a company choose to provide short term credit to consumers, they are now solely responsible for losses. This makes this traditionally profitable venture very dangerous for the company. cxvii

Economic:

Threat: Stagnated growth of economy will impede general consumer spending. This may affect the growth of sales, sales being reliant on loyal customers.

Threat: Inflation of material prices, will raise the cost of production, this will affect Colombia’s profitability. Columbia invests larger amounts into development, this is counteracted by their low cost production; increasing material costs will shrink the profit margin of their products.

Threat: Unemployment limits the number of consumers in any given market. Given high unemployment a market will shrink. To counteract this one must expand their clientele, attract new audiences, or enter new markets.

Technology:

Low Threat: Columbia Sportswear makes a large percentage of their sales through their online distributor. This makes cooperating online distributors a larger threat, because switching costs are not only nonexistent but technology has allowed switching time to be greatly diminished as well.

Low Threat: Customization/ Micro-Marketing is a way to target only the audiences that are interested in your products, as gather by search history. Expanding this marketing to though not only researching Columbia products but also though interested in the product of our competitor may aid in expanding our customer base.

Social:

Low Threat: Social networking to reach customers is not a marketing source Columbia has taken full advantage of, despite their presence on Facebook.cxviii Expanding the interactive presence in social media may attract younger consumers.

5/2/2013 of 94


A. SWOT

Helpful Harmful

Internal origin

I.Innovation

i.Function

ii.Differentiation

I.Out sourced production

i.High liquidity

ii.Free to invest

I.Diverse board

i.Able and willing to change company

ii.Diverse views available

I.Dependent on Boyle family

i.Leadership

ii.Dependant

I.Reduced liquidity from Research costs

i.High-end items unappealing in recession

ii.Lower liquidity

I.Increased debt

i.Increase liability

ii.Lower Liquidity

External Origin

I.Market expansion

i.Developing economies

ii.New consumer bases

I.Consumer loyalty

i.Raising sales

ii.Maintaining in recession

I.Extreme Weathercxix

i.Survival gear popular

I.Under Armor brand loyalty, “first movers advantage”

i.Refer to base layers as “under armor”

I.Stagnant economic growth

i.Impedes general spending

ii.unemployment

I.Material costs rising

i.Development costs

5/2/2013 of 94


Exec summary: Market factors are varied factors, Columbia is well equipped to handle them as seen by their success over the past few years, however if they wish to remain successful they must remain flexible. Reassessing current strategies to better fit the current market in necessary.

Harmful:

Dependent on Boyle family: This leader ship of this company will not be decided by skill but by blood. While this doesn’t seem to be a problem at the moment it may provide issues in the future. The Bolye family still owns 60% of Columbia sportswear, and thus dominates any ruling of investors this may impede other voices from being heard in the company.

Reduced liquidity from research costs: High-end items resonate poorly in depressed economies this may have untoward consequences on Columbia Sportswear. The cooperation will have to reassess what amount of investment into research will be most profit le.

Increased debt: This steams from increased investment but holds the negative consequences of, increased liability, and lower liquidity. This impedes others investments, and the ability of the company to move quickly.

Under Armor brand loyalty: This Brand holds the “first movers advantage” in the cold weather athletics. Base layers are commonly referred to as Under Armor. This affects the first response of the consumer when purchasing an item.

Stagnant economic growth: The recession impedes general spending, which means that sales are reliant on consumer loyalty. Without intervention this would stagnate, sales and prevent growth within markets. The number of consumers within a market may be declining as well. As unemployment rises the number of consumers available in a given market shrinks.

Material costs rising: This will affect the low cost development strategy that Columbia Sportswear has been implementing. This pressure on their profit margin will demand efficiency.

5/2/2013 of 94


Helpful:

Innovation: Columbia has been constantly at the forefront of material innovation this history inspires consumer loyalty. The differentiation of their products is made possible by their strong history of functionality.

Outsourced production: This strategy allows for low cost production, which rises the profit margin of the products. Outsourcing production allows for high liquidity, meaning fast transactions and the freedom to invest.

Diverse board: The range of opinions and specializations that can be found on this board allow for a fluid presentation of ideas. This flexibility enables change and efficiency in navigating market fluctuations.

Market expansion: Many developing markets are opening as consumer markets including China. This expansion in to new consumer bases will allow for expansion. New consumer bases will offset any, stagnated sales growth.

Consumer loyalty: Colombia Sportswear has a long history especially in the Skiing world, fortifying their consumer loyalty. The continuously rising sales illustrates the advantage of such a following.

Extreme Weather: The major storms of the last few years including Hurricane Sandy have incited a larger consumer base for survival gear. This will be beneficial for lines such as Mountain Hardware; if they advertise to take advantage of the situation.cxx

5/2/2013 of 94


A. Growth Vector Matrix

Product

Market

Present New

Present

Product Development

3. Innovative materials

Market Development

1. Redefining the brand through advertising (Pandora

mobile, ect)

New

Market Penetration

2.Mmarketing to foreign consumers

5/2/2013 of 94

1st Priority

2nd Priority


Executive summary: Columbia’s priorities in maintaining their market relevance are diverse. If they must ensure that they are able to redefine their brand to their current market to ensure that sales remain high. The next priority will be to expand their customer base further by entering new markets. Lastly Columbia must remain vigilant in their pursuit to be at the forefront of functional innovations.

Present Product in Existing Market: Columbia’s strength as a company is reliant on the functionality of their products. This advantage must be maintained by continued innovation at competitive speeds and patenting said information efficiently. Innovative materials are evolving at an exponential ratecxxi. To maintain market relevance Columbia must continuously expand their investment in research and development, or exponentially match the efficiency to the competitive market.

Present Product in New Market: Columbia Sportswear will be branching out into developing markets to expand their clientele. Advertising to Chinese consumers will mean

market penetration but, may product a loyal consumer base. This will ensure the rate of sales will continue to rise, allowing for the company to generate more revenue to support other important endeavors.

New Product in Present Market: Redefining the brand in established markets in the most important venture because it will provide an active consumer base to maintain sales through tough economic times. To reach the younger consumer base this advertising strategy will have to be based online and through social median, expanding the initiatives already seen on sights like Pandora, or Facebook. This will allow the company to invest in other initiative to expand the company to continue their success.

5/2/2013 of 94


Key Findings & Strategic Implications

Key FindingSources






2. Market PenetrationStrategy Models


Expanding into new markets

3. Innovation & Development

Value Chain

Patent analysis

Strategy Models

Competing through superior functionality and assessing that strategies profitability in this market.

4. Stagnant Economic GrowthFinancial analysis

STEEPMay cause reduction in sales if prolonged.

PRIORITY B: MEDIUM IMPACT

5. Rising Material costs

Strategy Models

STEEP

Value Chain

This may affect the Profit margin of products, making the reallocation of revenue to product development difficult.

5/2/2013 of 94


Key FindingSources


6. Product Diversity

Patent Analysis

Portfolio

Strategy models

Expanding or reforming product lines may help attract new clients.

7. Cooperate liquidity & Investments

Financial AnalysisAsses what risks the company is comfortable taking, and what investments will be most profitable in this economy.

PRIORITY C: LOW IMPACT

8. Low-Investment Production

Financial Analysis

Value chain

Out soured Production allows for a high profit margin, this practice may become less effective with rising material costs and stagnated economy.

9. Leadership Diversity Portfolio AnalysisFlexibility to navigator fluctuating economic times, should recognized as a strength and harnessed for future use.

10. Consumer layaltiy

Strategy Model

History and Back ground


This area needs to be expanded and strengthened. However all chances made to attract new costumers should be made with the existent following in mind.

5/2/2013 of 94


Appendix

Brand Portfolio:

Columbia Sportswear ® : cxxii

Men & Women's Apparel:

Jackets Fleece Skirts and dresses

Shirts BaselayerBags

Pants Shorts Footwear

5/2/2013 of 94

http://www.columbia.com/baselayer/women-baselayer,default,sc.html

http://www.columbia.com/womens-shirts/women-shirts,default,sc.html


Kid's:

BoysToddler

GirlsBaby

Equipment:

The gear portrays the fact that this line is not meant for the daring adventurer’s survival; rather the common Man's comfort in his modest outdoor pursuits.

Tents (only model, 2 sizes)

Rollers & Duffels

Bags & Backpacks Sleeping bags

5/2/2013 of 94


5/2/2013 of 94


Mountain Hardwear® cxxiii

Tents:

Expedition :High altitudeMountaineering

Super light:Light weightBackpacking

Backpacking:Backpacking & Trekking

Camp:Roomy & durable

5/2/2013 of 94


Accessories: Footprints,Gear Lofts, Stakes & AnchorsGlovesHats and belts

Men &Women's apparel::

Jackets: ShellsSoft ShellsFleeceInsulatedActiveLifestyle

5/2/2013 of 94


Vest

Tops FleeceLong sleeveShort Sleeve

Bottoms ShellsSoft ShellsInsulatedLifestyleShortsRun

Sleeping bags:Below 0 Degrees:

5-20 Degrees>20 DegreeskidsBivvies:

Backpacks:Climbing and SportDay PacksDuffel and Luggage

5/2/2013 of 94


For questions or comments please contact author:

Pia Frascatore

203-561-9894

[email protected]

Thank you

5/2/2013 of 94

mailto:[email protected]


5/2/2013 of 94

iColumbia’s annual sales hit new record - Portland Business Journal. (n.d.). Retrieved October 18, 2012, from

http://www.bizjournals.com/portland/news/2011/01/27/columbias-annual-sales-hit-new-record.html?page=all

ii(n.d.). Retrieved October 18, 2012, from http://www.shareholder.com/visitors/DynamicDoc/document.cfm?

DocumentID=3026&CompanyID=COLM&zid=ed0392bc

iiiGertrude Boyle: Executive Profile & Biography - Businessweek. (n.d.). Retrieved October 16, 2012, from

http://investing.businessweek.com/research/stocks/people/person.asp?

personId=384302&ticker=COLM&previousCapId=384300&previousTitle=COLUMBIA%20SPORTSWEAR

%20CO

ivApparel sellers face new cost pressures - Market Extra - MarketWatch. (n.d.). Retrieved October 18, 2012,

from http://www.marketwatch.com/story/apparel-sellers-face-new-pricing-pressures-2012-02-24

vColumbia’s annual sales hit new record - Portland Business Journal. (n.d.). Retrieved October 18, 2012, from


vi(n.d.). Retrieved October 18, 2012, from http://www.shareholder.com/visitors/DynamicDoc/document.cfm?

DocumentID=3026&CompanyID=COLM&zid=ed0392bc

viiGertrude Boyle: Executive Profile & Biography - Businessweek. (n.d.). Retrieved October 16, 2012, from



%20CO

viiiApparel sellers face new cost pressures - Market Extra - MarketWatch. (n.d.). Retrieved October 18, 2012,


ixColumbia Sportswear Company - Investor FAQs. (n.d.). Retrieved October 17, 2012, from

http://investor.columbia.com/faq.cfm?faqid=2

xColumbia Sportswear Company - Investor FAQs. (n.d.). Retrieved October 17, 2012, from


xiColumbia Sportswear Company - Investor FAQs. (n.d.). Retrieved October 17, 2012, from


xiiColumbia Sportswear Company - Investor FAQs. (n.d.). Retrieved October 17, 2012, from


xiiiColumbia Sportswear Company - Investor FAQs. (n.d.). Retrieved October 17, 2012, from


xivColumbia Sportswear Company - Investor FAQs. (n.d.). Retrieved October 17, 2012, from


xvColumbia’s annual sales hit new record - Portland Business Journal. (n.d.). Retrieved October 18, 2012, from


xviColumbia’s annual sales hit new record - Portland Business Journal. (n.d.). Retrieved October 18, 2012, from


xviiColumbia’s annual sales hit new record - Portland Business Journal. (n.d.). Retrieved October 18, 2012, from


xviiiColumbia Sportswear Company - Investor FAQs. (n.d.). Retrieved October 17, 2012, from


xixCOLM Company Profile - Columbia Sportswear Co. Company Information. (n.d.). Retrieved October 18,

2012, from http://www.marketwatch.com/investing/stock/colm/profile

xxCOLM Company Profile - Columbia Sportswear Co. Company Information. (n.d.). Retrieved October 18,


xxiColumbia Sportswear | Board of Directors. (n.d.). Retrieved October 17, 2012, from

http://www.columbia.com/Board-of-Directors/About_Us_Officers_Director_Details,default,pg.html

xxiiSarah Bany: Executive Profile & Biography - Businessweek. (n.d.). Retrieved October 18, 2012, from



%20CO

xxiiiTimothy Boyle: Executive Profile & Biography - Businessweek. (n.d.). Retrieved October 16, 2012, from

http://investing.businessweek.com/research/stocks/people/person.asp?personId=384304&ticker=COLM

xxivColumbia Sportswear | Tim Boyle, President and Chief Executive Officer. (n.d.). Retrieved October 17, 2012,

from http://www.columbia.com/Tim-Boyle/Officers_Tim_Boyle,default,pg.html

xxvColumbia Sportswear | Company History & Timeline. (n.d.). Retrieved October 16, 2012, from

http://www.columbia.com/history/About_Us_History,default,pg.html

xxvi

xxviiGertrude Boyle: Executive Profile & Biography - Businessweek. (n.d.). Retrieved October 16, 2012, from



%20CO

xxviiiColumbia Sportswear | Gert Boyle, Chairman of the Board. (n.d.). Retrieved October 17, 2012, from

http://www.columbia.com/Gert-Boyle/Officers_Gert_Boyle,default,pg.html

xxixTimothy Boyle: Executive Profile & Biography - Businessweek. (n.d.). Retrieved October 16, 2012, from

http://investing.businessweek.com/research/stocks/people/person.asp?personId=384304&ticker=COLM

xxxColumbia Sportswear | Tim Boyle, President and Chief Executive Officer. (n.d.). Retrieved October 17, 2012,

from http://www.columbia.com/Tim-Boyle/Officers_Tim_Boyle,default,pg.html

xxxiColumbia Sportswear | Board of Directors. (n.d.). Retrieved October 17, 2012, from


xxxiiMurrey Albers: Executive Profile & Biography - Businessweek. (n.d.). Retrieved October 18, 2012, from



%20CO

xxxiiiColumbia Sportswear | Board of Directors. (n.d.). Retrieved October 17, 2012, from


xxxivStephen Babson: Executive Profile & Biography - Businessweek. (n.d.). Retrieved October 18, 2012, from

http://investing.businessweek.com/research/stocks/private/person.asp?

personId=2735908&privcapId=946166&previousCapId=384300&previousTitle=COLUMBIA

%20SPORTSWEAR%20CO

xxxvColumbia Sportswear | Board of Directors. (n.d.). Retrieved October 17, 2012, from


xxxviSarah Bany: Executive Profile & Biography - Businessweek. (n.d.). Retrieved October 18, 2012, from



%20CO

xxxviiColumbia Sportswear | Board of Directors. (n.d.). Retrieved October 17, 2012, from


xxxviiiAndy Bryant: Executive Profile & Biography - Businessweek. (n.d.). Retrieved October 18, 2012, from


personId=131142&ticker=INTC&previousCapId=384300&previousTitle=COLUMBIA%20SPORTSWEAR

%20CO

xxxixColumbia Sportswear | Board of Directors. (n.d.). Retrieved October 17, 2012, from


xlEdward George: Executive Profile & Biography - Businessweek. (n.d.). Retrieved October 18, 2012, from



%20CO

xliColumbia Sportswear | Board of Directors. (n.d.). Retrieved October 17, 2012, from


xliiWalter Klenz: Executive Profile & Biography - Businessweek. (n.d.). Retrieved October 18, 2012, from



%20CO

xliiiColumbia Sportswear | Board of Directors. (n.d.). Retrieved October 17, 2012, from


xlivRonald Nelson: Executive Profile & Biography - Businessweek. (n.d.). Retrieved October 18, 2012, from


personId=130910475&ticker=COLM&previousCapId=384300&previousTitle=COLUMBIA

%20SPORTSWEAR%20CO

xlvColumbia Sportswear | Board of Directors. (n.d.). Retrieved October 17, 2012, from


xlviJohn Stanton: Executive Profile & Biography - Businessweek. (n.d.). Retrieved October 18, 2012, from


personId=510544&ticker=CLWR&previousCapId=384300&previousTitle=COLUMBIA%20SPORTSWEAR

%20CO

xlviiColumbia Sportswear | Shop Direct for Jackets, Pants, Shirts & Shoes. (n.d.). Retrieved October 18, 2012,

from http://www.columbia.com/on/demandware.store/Sites-Columbia_US-Site/default/Default-Start

xlviiiMountain Hardwear | Shop Jackets, Clothing, Tents, Sleeping Bags & Backpacks. (n.d.). Retrieved October

18, 2012, from http://www.mountainhardwear.com/on/demandware.store/Sites-MountainHardwear_US-

Site/default/Default-Start?

mid=paidsearch&nid=Brand_Other_Website&oid=Brand_Website_General&did=mountain

%20hardwear.com&gclid=CMfguZiiibMCFREx4AodrDEAnQ

xlixSOREL | Shop Women’s, Men’s & Kids Boots, Shoes and Footwear. (n.d.). Retrieved October 18, 2012, from

http://www.sorel.com/

lMontrail Shoes, Hiking Boots, Sandals - Zappos.com. (n.d.). Retrieved November 2, 2012, from

http://www.zappos.com/montrail

liWhat’s New | Pacific Trail. (n.d.). Retrieved November 2, 2012, from http://www.pacifictrail.com/whats-

new.php

liiColumbia Sportswear | Corporate Responsibility - Environmental. (n.d.). Retrieved October 18, 2012, from

http://www.columbia.com/Environmental-Corporate-

Responsibility/Corp_Responsibility_Environmental,default,pg.html

liiiColumbia Sportswear | Corporate Responsibility - Environmental. (n.d.). Retrieved October 18, 2012, from



liv http://www.pandora.com/

lvColumbia Sportswear | Corporate Responsibility - Environmental. (n.d.). Retrieved October 18, 2012, from



lviColumbia Sportswear | Corporate Responsibility. (n.d.). Retrieved October 18, 2012, from

http://www.columbia.com/corporate-responsibility/About_Us_Corp_Responsibility,default,pg.html

lviiApparel sellers face new cost pressures - Market Extra - MarketWatch. (n.d.). Retrieved October 18, 2012,


lviiiUnder Armour, Columbia show consumer appetite - Market Extra - MarketWatch. (n.d.). Retrieved October

18, 2012, from http://www.marketwatch.com/story/under-armour-columbia-show-consumer-appetite-2011-10-

25

lix Under the U.S. Supreme Court: Is class action on its last shaky legs? - UPI.com. (n.d.). Retrieved November 6, 2012, from http://www.upi.com/Top_News/US/2011/09/25/Under-the-US-Supreme-Court-Is-class-action-on-its-last-shaky-legs/UPI-17491316935800/

lx Dodd-Frank and the Law. (n.d.). Retrieved November 6, 2012, from http://dodd-frank.com/

lxiRound Table on 2011-2012 Legal Developments and Trends for the Retail and Fashion Industries -

BuckleySandler LLP. (n.d.). Retrieved October 26, 2012, from http://buckleysandler.com/events-

detail/developments-for-the-retail-and-fashion-industries

lxiiColumbia Sportswear Company - Investor FAQs. (n.d.). Retrieved October 17, 2012, from


lxiiiColumbia Sportswear Company - Investor FAQs. (n.d.). Retrieved October 17, 2012, from


lxivColumbia Sportswear Company - Investor FAQs. (n.d.). Retrieved October 17, 2012, from


lxvColumbia Sportswear Company - Investor FAQs. (n.d.). Retrieved October 17, 2012, from


lxviColumbia’s annual sales hit new record - Portland Business Journal. (n.d.). Retrieved October 18, 2012, from


lxviiColumbia’s annual sales hit new record - Portland Business Journal. (n.d.). Retrieved October 18, 2012, from


lxviiiColumbia’s annual sales hit new record - Portland Business Journal. (n.d.). Retrieved October 18, 2012, from


lxixColumbia Sportswear Company - Investor FAQs. (n.d.). Retrieved October 17, 2012, from


lxxColumbia’s annual sales hit new record - Portland Business Journal. (n.d.). Retrieved October 18, 2012, from


lxxiColumbia Sportswear Company - Columbia Sportswear Company Reports Second Quarter Results; Reaffirms

Full Year 2012 Sales and Earnings Outlook. (n.d.). Retrieved October 18, 2012, from

http://investor.columbia.com/releasedetail.cfm?ReleaseID=695932

lxxiiColumbia Sportswear Company - Financial Information. (n.d.). Retrieved October 17, 2012, from

http://investor.columbia.com/financials.cfm

lxxiiiCOLM Company Profile - Columbia Sportswear Co. Company Information. (n.d.). Retrieved October 18,


lxxiv http://www.nasdaq.com/symbol/nke/stock-comparison

lxxvCOLM Company Profile - Columbia Sportswear Co. Company Information. (n.d.). Retrieved October 18,


lxxviColumbia Sportswear Company - Columbia Sportswear Company and Swire Resources to Form Joint

Venture in China. (n.d.). Retrieved October 18, 2012, from http://investor.columbia.com/releasedetail.cfm?

ReleaseID=699030

lxxviiColumbia Sportswear Company - Columbia Sportswear to Webcast Analyst Meeting Introducing Omni-

FreezeTM Zero Active Cooling Technology at Outdoor Retailer Summer Market Thursday, August 2, 2012.

(n.d.). Retrieved October 18, 2012, from http://investor.columbia.com/releasedetail.cfm?ReleaseID=696894

lxxviiiColumbia Sportswear Company - Columbia Sportswear Company Reports Second Quarter Results;

Reaffirms Full Year 2012 Sales and Earnings Outlook. (n.d.). Retrieved October 18, 2012, from

http://investor.columbia.com/releasedetail.cfm?ReleaseID=695932

lxxixColumbia’s annual sales hit new record - Portland Business Journal. (n.d.). Retrieved October 18, 2012, from


lxxx 8 status symbols we hope disappear with the recession - New York Daily News. (n.d.). Retrieved November 6, 2012, from http://articles.nydailynews.com/2008-12-30/news/29435403_1_status-symbols-financial-crisis-recession

lxxxi Welcome To The Home Of Intelligence For Your Life – With John Tesh :: Recession-Busting Finds Are The Latest  Status Symbols! (n.d.). Retrieved November 6, 2012, from http://www.tesh.com/story/money-and-finance-category/recession-busting-finds-are-the-latest-status-symbols/cc/12/id/23438

lxxxii 6 Ways to Create Brand Loyalty. (n.d.). Retrieved November 6, 2012, from http://kherize5.com/ways-to-create-brand-loyalty/

lxxxiiiColumbia Sportswear | Corporate Responsibility - Environmental. (n.d.). Retrieved October 18, 2012, from



lxxxiv The Democratization Of Fashion Commerce: Big Niches Are Emerging For Startups | TechCrunch. (n.d.). Retrieved November 6, 2012, from http://techcrunch.com/2012/07/15/the-democratization-of-fashion-commerce-big-niches-are-emerging-for-startups/

lxxxv urn:nbn:se:kth:diva-52444: Social Media and Marketing. (n.d.). Retrieved November 6, 2012, from http://kth.diva-portal.org/smash/record.jsf?pid=diva2:466632

lxxxvi Emerald | Reference Services Review | An analytical survey of chat reference services. (n.d.). Retrieved November 6, 2012, from http://www.emeraldinsight.com/journals.htm?articleid=861658&show=abstract

lxxxvii ScienceDirect.com - Journal of Interactive Marketing - The Effectiveness of Branded Mobile Phone Apps. (n.d.). Retrieved November 6, 2012, from http://www.sciencedirect.com/science/article/pii/S1094996811000491

lxxxviii Thurm, S., & Kane, Y. I. (2010). Your apps are watching you. The Wall Street Journal, 17.

lxxxix ScienceDirect.com - Information & Management - Effect of store design on consumer purchases: an empirical study of on-line bookstores. (n.d.). Retrieved November 6, 2012, from http://www.sciencedirect.com/science/article/pii/S037872060100129X

xc Why people (don’t) shop online: A lifestyle study of the internet consumer - Swinyard - 2003 - Psychology & Marketing - Wiley Online Library. (n.d.). Retrieved November 6, 2012, from http://onlinelibrary.wiley.com/doi/10.1002/mar.10087/abstract

xci Patent USD497160 - Mobile POS - Google Patents. (n.d.). Retrieved November 6, 2012, from http://www.google.com/patents?hl=en&lr=&vid=USPATD497160&id=Xy4SAAAAEBAJ&oi=fnd&dq=mobile+point+of+sales&printsec=abstract#v=onepage&q=mobile%20point%20of%20sales&f=false

xcii IEEE Xplore - Mobile Sales Assistant - An NFC-Based Product Information System for Retailers. (n.d.). Retrieved November 6, 2012, from http://ieeexplore.ieee.org/xpl/login.jsp?tp=&arnumber=5190412&url=http%3A%2F%2Fieeexplore.ieee.org%2Fxpls%2Fabs_all.jsp%3Farnumber%3D5190412

xciii POSitive Technology Point of Sale Specialists. (n.d.). Retrieved November 6, 2012, from http://www.positivetechnology.com/

xciv Mont, O. (2000). Product-service systems. Final Report, IIIEE, Lund University.

xcv Gap jeans 30% off with your trade-in pair - DailyFinance. (n.d.). Retrieved November 6, 2012, from http://www.dailyfinance.com/2010/03/06/gap-jeans-30-off-with-your-trade-in-pair/

xcvi Top Trends in Innovation Blog Energy Archives - BusinessWeek. (n.d.). Retrieved November 6, 2012, from http://www.businessweek.com/innovate/next/archives/energy/index.html

xcvii Top Trends in Innovation Blog Energy Archives - BusinessWeek. (n.d.). Retrieved November 6, 2012, from http://www.businessweek.com/innovate/next/archives/energy/index.html

xcviii Workers’ Rights Group Accuses “iPad Mini” Supplier of Labor Abuses - I4U News. (n.d.). Retrieved November 6, 2012, from http://www.i4u.com/2012/10/ipad/mini-workers-supplier-accuses-ipad-abuses-rights-group-labor

xcixColumbia Sportswear | Corporate Responsibility. (n.d.). Retrieved October 18, 2012, from

http://www.columbia.com/corporate-responsibility/About_Us_Corp_Responsibility,default,pg.html

Inflation: Prices on the Rise - Back to Basics: Finance & Development. (n.d.). Retrieved November 6, 2012, from http://www.imf.org/external/pubs/ft/fandd/basics/inflat.htm

c

ci My Inflation Isn’t Like Your Inflation - DailyFinance. (n.d.). Retrieved November 6, 2012, from http://www.dailyfinance.com/2012/08/30/my-inflation-isnt-like-your-inflation/

cii October Jobs Report - ABC News. (n.d.). Retrieved November 6, 2012, from http://abcnews.go.com/ABC_Univision/Politics/october-jobs-report/story?id=17621690#.UJiw8GdH3k8

ciii

civ Economic Conditions. (n.d.). Retrieved November 6, 2012, from http://www.referenceforbusiness.com/encyclopedia/Eco-Ent/Economic-Conditions.html

cv

cvi

cvii Dodd-Frank and the Law. (n.d.). Retrieved November 6, 2012, from http://dodd-frank.com/

cviiiText The Rising Profile of Niche Brands in China « Red Luxury. (n.d.). Retrieved November 6, 2012, from  

http://red-luxury.com/2012/11/01/the-rising-profile-of-niche-brands-in-china/ile World - Under Armour

Sportswear Collection Features coldblack® Finish. (n.d.). Retrieved November 4, 2012, from

http://www.textileworld.com/Articles/2012/May/Under_Armour_Sportswear_Collection_Features_col

dblack.html

cix COLDBLACK - Reviews & Brand Information - SCHOELLER TECHNOLOGIES AG , - Serial Number: 79058430. (n.d.). Retrieved November 6, 2012, from http://www.trademarkia.com/coldblack-79058430.html

cx Patent US20120210487 - Garment - Google Patents. (n.d.). Retrieved November 5, 2012, from http://www.google.com/patents/US20120210487?dq=moisture+wicking+fabric+NIKE&hl=en&sa=X&ei=BOyVUMm0I-XU0gHByIDoAg&ved=0CDYQ6AEwAA

cxi Patent US20120227282 - Layered Thermoplastic Non-Woven Textile Elements - Google Patents. (n.d.). Retrieved November 5, 2012, from http://www.google.com/patents/US20120227282?dq=moisture+wicking+fabric+NIKE&hl=en&sa=X&ei=ceyVUJ37IMuz0QGp3oHoAw&sqi=2&pjf=1&ved=0CE4Q6AEwCA

cxii Patent US7008887 - Cellulosic substrates with reduced absorbent capacity having the capability ... - Google Patents. (n.d.). Retrieved November 5, 2012, from http://www.google.com/patents/US7008887?dq=moisture+wicking+fabric+NIKE&ei=b-2VUP-OLsHD0QGLh4CQCg

cxiii Patent US8187984 - Temperature responsive smart textile - Google Patents. (n.d.). Retrieved November 5, 2012, from http://www.google.com/patents/US8187984?dq=moisture+wicking+fabric+NIKE&hl=en&sa=X&ei=1-2VUIS5N-m80AGJsIHwCQ&ved=0CEcQ6AEwBDgU

cxivPatent US20120227164 - Waterproof moisture-permeable underwear and waterproof moisture-

permeable liner - Google Patents. (n.d.). Retrieved November 4, 2012, from

http://www.google.com/patents/US20120227164?dq=Omni-Wind

%C2%AE+columbia&hl=en&sa=X&ei=OOeVUL20Nsbe0QHF24GwDQ&ved=0CDYQ6AEwAA

cxv HOLOGRAPHIC PATTERNED HEAT MANAGEMENT MATERIAL - US Patent Application 20110203783 Description. (n.d.). Retrieved November 5, 2012, from http://www.patentstorm.us/applications/20110203783/description.html

cxvi ZONED FUNCTIONAL FABRICS - US Patent Application 20120015155 Abstract. (n.d.). Retrieved November 5, 2012, from http://www.patentstorm.us/applications/20120015155.html

cxvii http://dodd-frank.com/

cxviii https://www.facebook.com/ColumbiaSportswear

cxix http://www.nytimes.com/2012/11/11/business/hurricane-sandy-and-the-disaster-preparedness-economy.html?pagewanted=all&_r=0

cxx http://www.nytimes.com/2012/11/11/business/hurricane-sandy-and-the-disaster-preparedness-economy.html?pagewanted=all&_r=0

cxxi http://www.thecoolist.com/the-tech-of-fashion-10-ways-technology-drives-tomorrows-fashion/

cxxiiColumbia Sportswear | Shop Direct for Jackets, Pants, Shirts & Shoes. (n.d.). Retrieved October 18, 2012,

from http://www.columbia.com/on/demandware.store/Sites-Columbia_US-Site/default/Default-Start

cxxiiiMountain Hardwear | Shop Jackets, Clothing, Tents, Sleeping Bags & Backpacks. (n.d.). Retrieved October

18, 2012, from http://www.mountainhardwear.com/on/demandware.store/Sites-MountainHardwear_US-

Site/default/Default-Start?

mid=paidsearch&nid=Brand_Other_Website&oid=Brand_Website_General&did=mountain

%20hardwear.com&gclid=CMfguZiiibMCFREx4AodrDEAnQ

company profile: columbia co. mercyhurst university riap...

Documents