Cole Haan, acquired in 2013 by private equity firm Apax Partners from Nike Inc., has confirmed that it’s preparing for an initial public offering.
“Our management team is confident in the opportunities we have created for the Cole Haan brand and our business globally,” Chief Executive Officer Jack Boys said in a statement released to Bloomberg. “Based on the momentum we have generated in the business and the opportunities we believe are before Cole Haan, we have determined that now is the time to prepare for an initial public offering of the company’s shares.”
A source told Bloomberg that revenue grew 14 percent to $687 million in the fiscal year that ended June 1 while adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) jumped 56 percent to $95.3 million. The growth is being helped by a focus on more athletic models as well as growth overseas.
