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Cole Haan Stirs Debt Investor Love for Shoe Brand Dating to 1928
- High investor demand improves retailer’s financing conditions
- Apax-owned company draws praise for attracting new customers
A general view of the exterior of the Cole Haan boutique in Las Vegas.
Photographer: Ethan Miller/Getty ImagesThis article is for subscribers only.
Cole Haan’s most recent debt offering shows investors will still lend to at least some aging clothing brands.
The footwear company is a bright spot in an industry that’s been marred by failures -- Nine West is mired in bankruptcy while Payless is preparing to file for a second time. But Cole Haan, a brand that dates back to 1928 and is now owned by private equity firm Apax Partners LP, has avoided its competitors’ troubles by embracing e-commerce and revamping its products to target millennials and women.