Date Posted: Wednesday 17th June 2020
Boohoo has acquired the online business for fashion retailers Oasis and Warehouse for £5.25m in cash from Hilco Capital Limited. Boohoo made the announcement as it said online sales rose by 45% in the three months to May. This is partly due to a rise in demand for athleisure fashion during the coronavirus lockdown.
Oasis and Warehouse went into administration in April losing 1,800 jobs and employed Deloitte to act as administrator. In May it was announced that a buyer had not been found and the brands were forced to permanently close their physical stores.
In line with previous acquisitions, the Group will, in the coming months, integrate Oasis and Warehouse onto its platform, allowing both brands to benefit from the Group’s insight, infrastructure, supply chain and operating model. Earlier this year Boohoo also bought out struggling brands MissPap, Karen Millen and Coast.
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