Boohoo buys Oasis and Warehouse online business

Boohoo has acquired the online businesses and associated intellectual property of Oasis and Warehouse for £5.25 million from Hilco Capital.

After administrators failed to find a buyer, the Oasis and Warehouse Group closed all stores and concessions at the end of April, with the loss of more than 1,800 jobs.

However, the intellectual property and stock was sold to restructuring specialist Hilco Capital. The Boohoo Group's acquisition of the brands will add them to its growing fashion portfolio, which includes PrettyLittleThings, Nasty Gal, MissPap, Karen Millen and Coast.

The most recent accounts show that Oasis and Warehouse generated direct online revenues of £46.8 million for the year ending February.

The acquisition was announced alongside Boohoo’s first quarter trading update, which showed total revenue rising 45 per cent year-on-year to £367.8 million for the three months to 31 May, while revenue in the UK market alone increased 30 per cent to £183 million.

During the period, the group purchased the remaining 34 per cent minority stake in PrettyLittleThing from its minority shareholders. It also completed a £197.7 million equity fundraising to finance further acquisitions.

Full year revenue growth is forecast at 25 per cent, with an adjusted earnings margin of 9.5 per cent to 10 per cent.

Chief executive John Lyttle commented: "During unprecedented and challenging times, the group has delivered a very strong trading and operational performance.

“Whilst there is a period of uncertainty within the markets in which we operate, the group is well-positioned to continue making progress towards leading the fashion e-commerce market globally.”

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