Cole Haan Inc. is going public.
The heritage brand announced that it has confidentially submitted a draft registration statement with the Securities and Exchange Commission as part of its proposed initial public offering.
Neither the size of the offering nor the timing have been determined, but the IPO is expected to commence after the SEC completes its review process.
A company spokesperson declined FN’s request for comment.
Two months ago, Cole Haan confirmed that it had begun the process of filing for an IPO. The American shoe label is currently owned by private equity firm Apax Partners, which bought it from Nike for $570 million in 2013. (Apax, which also owns specialty retailer Rue21 and luxury platform MatchesFashion.com, is a major investor in the fashion and footwear spaces.)
The lead-up to Cole Haan’s IPO comes during a period of uncertainty for the footwear industry, which continues to battle with new upcoming tariffs on Chinese imports, as well as broader retail-sector challenges evidenced by high-profile bankruptcies and widespread store closures.
However, as a growing number of women continue to demand both comfort and style in their footwear, Cole Haan has responded with sophisticated silhouettes featuring cushioning and flexibility that have found favor among a range of consumers, including Generation Zers, millennials and baby boomers.
Over the summer, the brand launched its comfort-focused Grand Ambition line, created in collaboration with the University of Massachusetts Amherst’s Biomechanics Laboratory. It also has a foot in the sneaker space and in January put a fresh spin on its popular Zerøgrand collection with its All-Day Trainer.
In the fiscal year ended June 1, Cole Haan’s revenues increased 14% to $687 million, while its adjusted EBITDA climbed 56% to $95.3 million.
Cole Haan Confirms It’s Preparing for an IPO