Oasis and Warehouse buy London menswear website
The Oasis and Warehouse group has moved into menswear for the first time with the acquisition of a London-based online fashion brand.
The Idle Man, which is headquartered in Shoreditch, was founded in 2014 by former Asos buyer Oliver Tezcan. The e-commerce platform sells men’s brands and its own labels.
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Tezcan will stay on as manager of The Idle Man, reporting to Warehouse and Oasis chief executive Hash Ladha.
Oasis and Warehouse chief executive Hash Ladha said: “We are delighted to welcome Oliver and the team at The Idle Man to the group.
“This is an exciting acquisition for us. We can bring scale to The Idle Man’s proposition as well as infrastructure support, and the brand allows us to tap into the growing demand for fashionable menswear through a credible and well-established brand.
“The Idle Man’s team will bring invaluable expertise to the group and I am looking forward to working with them.”
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In its latest results for the financial year ended 24 February 2018, Warehouse and Oasis reported a like-for-like sales increase of five per cent and said gross profit was up 2.3 per cent at £170.6m.