that T-Mobile and Team Telekom. The sponsorship began on July 5, 2008, with the start of the Tour de France. The team's name was "Team Columbia". The sponsorship included both the men's and women's teams, and ended at the end of 2010. On August 4, 2010, Columbia Sportswear Company signed an agreement to acquire OutDry Technologies S.r.l., which owns the intellectual property and other assets comprising the OutDry brand and related business, via a cash purchase from Nextec S.r.l., based near Milan, Italy. The transaction was expected to close during the third quarter of 2010, subject to customary closing conditions, and is not expected to have a material effect on the company's 2010 operating results. In March 2015, Bryan Timm was named president of the company, taking over that position from Tim Boyle, who remained CEO. In May 2017 it was announced Timm would step down and the duties of president would revert to Tim Boyle. On November 3, 2019, chairwoman Gert Boyle died at the age of 95. Tim Boyle was named as Acting Chairman of the company's board of directors. In October 2020, the company announced that alpaca wool would no longer be a part of their collections, including their other brands PrAna, Mountain Hardwear and Sorel. Locations Columbia Sportswear distributes its products in more than 72 countries and 13,000 retailers. Columbia also operates its own chain of retail stores, including its flagship store located in downtown Portland, Oregon. Financial information As of November 17, 2022, the company's market capitalization is about $5.03 billion, with 2021 net revenue of $3.13 billion. As of 2018, 40% of Columbia's business came from abroad. Stock exchanges Columbia Sportswear Company is publicly traded on NASDAQ with ticker symbol COLM. Trade and tariffs The clothing business in the US is still largely subject to what remains of the Smoot–Hawley Tariff Act, passed in 1930. Since 2001, Columbia has paired its designers with teams of trade experts in a process the company calls "tariff engineering" in order to reach lower tariffs, taxes, or duties. For example, Columbia applies a very thin layer of fabric to the soles of its shoes since tariffs on fabric soles are lower than those on rubber soles; the fabric wears away within days. For similar reasons, jackets are waterproofed and filled with at least 10% down. Vietnam is Columbia's largest supplier, and 25% of the company's footwear originates in