Cole Haan Files for IPO
Cole Haan has filed for an IPO, intending to apply to list its stock on the Nasdaq under CLHN.
The apparel and footwear company’s filing with the Securities and Exchange Commission on Feb. 14 reports it plans to raise $100 million in common stock.
“Seven years ago, we began our journey as an independent company and set out to transform a classic domestic dress shoe company with a 90-year heritage into something even bigger—a global lifestyle brand serving always-connected, active professionals with innovative footwear and lifestyle accessories,” said CEO Jack Boys in the filing. “Today, Cole Haan is a $1 billion global performance lifestyle brand at retail that connects with consumers primarily over digital platforms. And we’re just at the beginning of our journey.”
The company reported 2019 revenue of $686.6 million, up 14.1% from 2018’s $601.6 million.
Founded in 1928 by Trafton Cole and Eddie Haan, Cole Haan was purchased by Nike in 1988. The sneaker giant divested the brand in 2012, and it was picked up by Apax Partners Worldwide for $570 million.
In the filing, the company describes its target customer men and women age 24-44 who live in global urban centers and are active.
“We target this group because of its large and fast-growing generational spending power. They are multi-faceted and see their potential for extraordinary—making a positive impact on the world—through their personal and professional passions. They are inspired by those extraordinary people across the cultural spectrum who “work for what they believe in,” it stated.
Cole Haan is based in Greenland, NH, and New York.