Columbia Sportswear Company® (Nasdaq:COLM) has announced a license agreement with Terramar Sports Worldwide Ltd. to design, manufacture and market thermal tops, bottoms and accessories for men, women and children.

Columbia has ventured into the thermal underwear market, which is estimated to be worth around $438.5m, to complement its current outdoor range.

"High quality primary layers are a critical component of outdoor apparel, and consumers are now looking for ways to enhance and improve their options," said Tim Boyle, Columbia's president and chief executive officer.

"Terramar has developed one of the most comprehensive collections of primary layering garments on the market, which is a natural extension of our product line. We are very excited about the opportunity to work with them," he continued. 

The company sought a lincense agreement with Terramar arther than looking to produce the garments in house to ensure that the garments were up to the highest standards possible.

"While thermal underwear and other layering pieces complement our current collection of outdoor apparel, production of these items doesn't necessarily fit into Columbia's manufacturing competency," Boyle said.

"Terramar has an impressive reputation for producing high-quality products, so to help ensure our success in this category, we chose to team up with a known industry expert," he added.