// Oasis and Warehouse parent company ventures into menswear for the first time by acquiring The Idle Man
// A sum was not disclosed for the takeover deal
// The Idle Man is an online-only menswear retailer that was founded in 2014
The parent company of Oasis and Warehouse has taken a step into menswear for the first time through the acquisition of online retailer The Idle Man for an undisclosed sum.
As part of the takeover deal, The Idle Man will have access to the Oasis and Warehouse Group’s knowledge and industry experience, as well as benefit from access to the company’s established supply chain and infrastructure.
Managing director Oliver Tezcan will continue to head up The Idle Man and will report directly to the Oasis and Warehouse group chief executive Hash Ladha.
The Idle Man was launched in 2014 by Tezcan, a former Asos menswear buyer, selling big name fashion brands and having a team of in-house designers to cash in on rising demands by male shoppers.
Analysts and retail observers had been fearful that Oasis and Warehouse could be struggling, after its former stablemate Coast went bust last year before being acquired by Karen Millen – which in turn was sold off to Boohoo in a pre-pack administration deal last month that will only see it exist online.
However, Oasis and Warehouse have continued to grow and bosses are hoping The Idle Man takeover will help improve its future.
“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,” Ladha said.
Tezcan 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 Idle Man employed around 22 staff and had assets of £820,000 on August 31 2018, according to latest accounts filed at Companies House.