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On Thursday, the Japanese streetwear label Human Made unveiled its plans for an initial public offering on the Tokyo Stock Exchange.
The IPO was first-reported by Bloomberg Japan and shared within documents Human Made submitted for a new listing application that was approved by the Tokyo Stock Exchange Growth Market on Thursday. The brand plans to go public on Nov. 27 and expects to raise 2.7 billion yen ($18 million) with shares priced at 2,920 yen ($19.12).
Human Made was the second brand founded by the Japanese streetwear pioneer Nigo, who also serves as chief executive. He is also the artistic director of the LVMH-owned luxury label Kenzo.
In its filing, Human Made said net sales have grown from 1.8 billion yen ($12.1 million) in January 2021 to 11.2 billion yen ($73.3 million) as of January 2025.
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Prior to Human Made, Nigo founded the global streetwear titan A Bathing Ape or BAPE in 1993. Nigo launched Human Made in 2010, a year before he sold 90 percent of BAPE to the Hong Kong-based retailer I.T Limited in 2011. He left the brand in 2013.
According to the documents filed with Tokyo’s Stock Exchange, Nigo (and his personal company Nigold) owns roughly 60 percent of Human Made’s shares. The second largest shareholder is the musician and Louis Vuitton menswear creative director Pharrell Williams, who owns nearly 26 percent of shares.
Human Made is exploring an IPO during a moment when Japanese menswear brands are receiving significant investment. Soshi Otsuki founder of the Japanese menswear label Soshiotsuki, won the LVMH Prize in September. Kapital, a Japanese menswear label inspired by Americana that’s built a sizeable fandom around its “boro” denim and graphic streetwear, sold off a majority stake to the LVMH-backed private equity firm L Catterton in January.
Learn more:
How BAPE Kept Its Cool for Decades
By staying true to its DNA, A Bathing Ape has managed to maintain its pull on shoppers even as it’s evolved from a cult streetwear label into a mainstream brand with a global footprint. Now it’s eyeing expansion in the US.
