Nice Footwear to go public

WWD has reported that Nice footwear is proceeding with an IPO. The Italian shoemaker plans to list on Euronext Growth Milan, a segment of the Milan Bourse dedicated to small and medium-sized companies, later this November.

Nice, founded in 2004 by Bruno Conterno, designs shoes for many other fashion companies, and also has several -in-house and licensed brands. Some of the brands under their umbrella include Avirex, Kronos, and Fred Mello. In total, they produce 1.5 million shoes a year.

The prospective IPO will be reserved for Italian and international qualified investors. The price range for shares has been set between 9 and 11 euros.

All Nice footwear is produced in Chinese factories through a local subsidiary that opened last year. In 2020, despite COVID-19, the company was able to expand thanks a 3-million-euro bond subscribed by investment firm Finint SGR. Nice’s revenues currently total 21.1 million euros, with net profits of 879,000 euros. Their largest markets are Italy, Switzerland, and France.