Human Made Corporation, the company founded by Japanese streetwear pioneer Nigo, has signed an agreement to acquire Undercover, the cult fashion label founded and independently owned by Jun Takahashi.
The agreement — which is non-binding at this stage, with a share purchase agreement targeted for September 2026 and the full transfer planned for February 2027 — connects two of Japanese fashion’s most visionary figures.
The deal comes less than a year since Human Made launched a historic IPO on the Tokyo Stock Exchange, becoming the first streetwear brand to go public there. The company generated annual revenues of JPY 14.27 billion ($89.14 million) in fiscal year 2026, representing a 26.8% increase from JPY 11.26 billion ($70.33 million) the previous year.
In a statement, Human Made said that the acquisition of Undercover was part of a wider overhaul of its business model. With the aim to “nurture culture sparked by human inspiration and craft”, the plan is to enhance the value of the group and form “Japan’s next iconic creative industry, following manga, anime and games”.
Nigo photographed at the Design Museum in London. The designer is the subject of a major retrospective exhibition running May to October 2026.
Photo: Elliot James Kennedy
Because it is a private company, Undercover does not publicly disclose its annual revenue or profit figures. But like many high-fashion ventures, it has faced the challenge of balancing its immense avant-garde creativity with steady commercial success. Human Made said its policy targeted “companies whose brand equity has not sufficiently translated into profits”.
In Human Made’s view, Undercover has “established a unique position” that blends street culture with high fashion, ultimately creating a “designer brand with high global recognition”.
Nigo and Takahashi are often credited as two of the foundational architects of modern streetwear. They have a deep friendship that spans decades, after coming up together and inspiring one another as they launched their respective brands, A Bathing Ape (Bape) and Undercover, and transforming Japanese youth culture into an international phenomenon. Their mutual respect and approach to collaborations blurred the lines between high fashion, art, and street culture, proving that creativity thrives in community.
Together, they launched the seminal Tokyo-based fashion boutique Nowhere in 1993. As the first place to sell both Bape (launched by Nigo the same year) and Undercover (founded three years prior by Takahashi, while a student at Bunka Fashion College), it anchored the country’s legendary Ura-Harajuku streetwear movement, which came to life as Japan’s economic bubble began to burst.
Nigo and Jun Takahashi outside of the “Nowhere”store in the Last Orgy 2 column.
Photo: Courtesy of Nike
