Just like most coolers to arrive from Thermalright, again they go with the plain brown cardboard box with black printing on it. Here on the top is one of three sides that hold any sort of information, and here it is just the Thermalright name and logo.
Both of the smaller sides look exactly like the left side shown here. Now you are given the name of the cooler, AXP-100, and a notation showing it is for HTPC and ITX use, and if you need it there is the web address.
When you first open the box, you are looking at a white cardboard box that is holding the hardware. I found it easier to flip the whole box over and shake out the hardware box, since there isn't a cutout to stick a finger in to remove it easily.
After setting the hardware to the side, then removing the manual and a sticker, you can finally see that the cooler is surrounded with some high density foam to make sure it is safe inside.
Under a thin layer of that foam you will find the TY-100 fan that cools the AXP-100. Lifting out the fan and another thin layer of foam you can find the cooler snugly fit into the bottom of the sandwich of foam.
Taking things one step further, Thermalright even packages the cooler body in a plastic bag. While there isn't much inside to do any scratching on the cooler, this liner does allow the cooler to slide a bit on the foam, and with the plastic in place, it keeps the fins from grabbing the foam and potentially tweaking them out of alignment.