Upscale footwear brand Cole Haan is looking to go public.
The company confirmed to CNBC that it is preparing for an initial public offering. Cole Haan is owned by private equity firm Apax Partners, which acquired it in 2013 from Nike.
“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,” CEO Jack Boys said in an emailed statement to CNBC.
The move comes as the footwear industry is bracing for the impact of additional tariffs on Chinese imports. About 70% of shoes sold in the U.S. come from China, although Cole Haan has said it primarily sources its manufacturing in Vietnam and India, reported CNBC.To read the full story, click here.