Key facts
- Human Made, a Japanese fashion label founded by NIGO, has become the first streetwear brand to list on the Tokyo Stock Exchange.
- The IPO is expected to raise approximately $115 million USD (17.8 billion yen).
- The company's valuation at listing was approximately USD 460 million (JPY 72 billion).
- NIGO's stake is estimated at USD 285 million, and Pharrell Williams' 25.7% holding is valued at roughly USD 117 million.
- The stock opened at JPY 3,440, a 9.9% premium over the offer price.
- Human Made plans to accelerate its global expansion strategy with the new capital.
Human Made, the Japanese premium streetwear brand founded by NIGO, has successfully completed its Initial Public Offering (IPO) on the Tokyo Stock Exchange Growth Market on November 27, 2025. The listing, which raised approximately $115 million USD (17.8 billion yen), marks a significant milestone as the first streetwear brand to go public on the exchange. The IPO was met with strong investor demand, reportedly being oversubscribed by around 60 times, with institutional orders reaching approximately 35 times and retail investor demand at nearly 80 times the available shares.
The company's valuation at listing stood at approximately USD 460 million (JPY 72 billion). This valuation means NIGO's stake is estimated at USD 285 million, while Pharrell Williams' 25.7% holding is valued at roughly USD 117 million. Both NIGO and Williams saw significant increases in their asset values, with reports indicating NIGO sold about USD 56 million worth of shares and Williams sold roughly USD 33 million during the IPO.
The stock opened at JPY 3,440, representing a 9.9% premium over the offer price. Human Made, known for its blend of vintage culture, classic American style, and modern streetwear, operates beyond fashion, including the curry shop CURRY UP and various brand collaborations. The company's mission is to "CULTIVATE CULTURE" and nurture Japan's creative industries.