Monday 16 September 2019

Warehouse and Oasis move into menswear with start-up takeover

The Idle Man, its was launched five years ago by a former Asos buyer, will now work alongside the retail chain

Oasis and Warehouse has bought The Idle Man for an undisclosed fee as it attempts to break into menswear (Oasis Warehouse Group/PA)
Oasis and Warehouse has bought The Idle Man for an undisclosed fee as it attempts to break into menswear (Oasis Warehouse Group/PA)

By Simon Neville, PA City Editor

The bosses of women’s fashion chains Oasis and Warehouse have ventured into menswear for the first time, snapping up Shoreditch-based start-up The Idle Man.

Launched by a former Asos menswear buyer, The Idle Man was opened in 2014, selling big name fashion brands and having a team of in-house designers to cash in on rising demands by male shoppers.

Hash Ladha, Oasis and Warehouse group chief executive, said: “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.”

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Warehouse and Oasis have managed to defy some of the problems hitting other retailers. (Oasis Warehouse Group / PA)

Analysts and retail observers had been fearful that Oasis and Warehouse could be struggling, after its former stablemate Coast went bust last year and several high street fashion brands pushed through insolvencies known as CVAs to reduce rents.

But Oasis and Warehouse have continued to grow and bosses are hoping this latest push will help improve its future.

Oliver Tezcan, managing director and founder of the Idle Man, said: “This is the start of a very exciting journey for us, we will now have a platform from which we can scale up, attract new customers and develop our own brand wholesale proposition and international business.”

The company employed around 22 staff and had assets of £820,000 on August 31 2018, according to latest accounts filed at Companies House.

Accounts also revealed that the business owes Mr Tezcan £16 “interest free and repayable on demand”.

The amount paid by Oasis and Warehouse Oasis was not revealed.

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