Human Made had a strong first day as a public company.
The Japanese streetwear label, which had priced its shares at the top of the marketed range, ended the day with its share price up 13 percent. The price had lifted as much as 23 percent in early trading.
Founded by designer Nigo, and backed by musician and designer Pharrell Williams, Human Made raised 17.8 billion yen ($113.8 million) in its public debut.
The brand, founded in 2010, has grown considerably in recent years, more than quintupling its sales and revenue since 2021 and achieving a 28 percent operating margin, on par with luxury fashion labels. The company said it plans to use the newly raised funds to expand both its global fleet of stores and its portfolio of brands.
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Streetwear’s First IPO, Explained
Human Made shares begin trading in Tokyo on Thursday, a milestone in streetwear’s evolution from a subcultural trend to a mature fashion category.