The group agreed the deal with financial investor Hilco Capital, which bought the Oasis and Warehouse brands and stock from administrators in April. Boohoo has added to its growing stable of brands with the acquisition of the online businesses of Oasis and Warehouse for £5.25 million as it reports impressive first quarter results. The move reunites the four brands, which were formerly part of the Mosaic Group. AO opens a 275,000 sq ft warehouse in Stoke-on-Trent to support the growth of its online business. City sources said on Tuesday that Oasis and Warehouse's online business and their associated intellectual property would be bought by Boohoo. Retail sales grow for fifth consecutive month, Rishi Sunak announces new support for Tier 2 businesses, Robots cleaning up: Sam's Club to roll out autonomous floor scrubbers, Lego appoints ex-Tesco CIO as chief digital & technology officer, Boohoo adds Oasis and Warehouse to its portfolio, recent £197.7 million fund raising that gives it the ability to make a variety of opportunistic acquisitions and broaden its market exposure, Oasis and Warehouse's online business from permanent closure following their fall into administration in April, Boohoo then experienced an improved performance from all its brands and geographies throughout April and into May, Operational resiliency: advice from leading brands. Fashion giant Boohoo agrees deal to buy collapsed chains Oasis and Warehouse for £5.25 million. It has helped 32-year-old Mr Kamani, regularly seen enjoying a luxurious lifestyle on Instagram, develop a personal wealth of more than £1 billion. Angry masked protestors pelt riot police with fireworks during demonstration against new coronavirus rules... SIR ROCCO FORTE: Matt Hancock's ineptitude is bankrupting my industry - it's time he was sacked. Oasis Warehouse was placed in administration in April, with the loss of more than 1,800 jobs after a buyer could not be found for the high street stores (file photo), Boohoo said it would integrate the Oasis and Warehouse online operations into its platform in the coming months, after agreeing a deal with restructuring expert Hilco Capital (file photo), Models pictured wearing a £48 Oasis jumpsuit (right) and a £49 dress from Warehouse (left). Boohoo says the independent review into its supply chain has been completed, and has outlined steps to implement its recommendations. Oasis and Warehouse join other acquired brands including Karen Millen, Coast and MissPap and indicate Boohoo’s objective of extending its coverage across different customer age ranges. Last month, Boohoo struck a long-awaited deal to buy the minority interests in PrettyLittleThing, a retailer of women's fashion, for up to £324m. Since the outbreak of the virus, Cath Kidston, Debenhams and Laura Ashley have collapsed into insolvency processes. In 2013, pop sensation Mollie King from The Saturdays became the star of Oasis’ first ever celebrity-endorsed collection, while her former bandmate Frankie Bridge released a small capsule of her favourite pieces from the stylish company last year. Shares in Boohoo jumped 10 per cent higher after its trading update and news of the deal, as it said snapping up a pair of struggling brands it said would help it build on its momentum at a time when many brick-and-mortar retailers are collapsing. The deal rescues Oasis and Warehouse's online business from permanent closure following their fall into administration in April. Despite the sale, in which Mr Kamani and his fellow shareholders will get £161.9 million in cash, and the rest in Boohoo shares, the businessman will continue to work as Pretty Little Thing's CEO. Boohoo's purchase of the fashion brands will underline the shifting power in British retailing, Sky News learns. And while Warehouse hasn’t officially boasted any celebrity collections or ambassadors before, it often proved to be a fashion favourite with presenters Holly Willoughby and Alex Jones. After initially suffering a marked decrease in trading as a result of Covid-19, Boohoo then experienced an improved performance from all its brands and geographies throughout April and into May. Fashion giant Boohoo is set to snap up the online businesses of collapsed chains Oasis and Warehouse for £5.25 million. Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, said Boohoo's own latest purchases would need refreshing: "It's up to Boohoo to rejuvenate [Oasis and Warehouse… Coronavirus: Boohoo swoops on former high street stars Oasis and Warehouse. Boohoo, which owns the Nasty Gal and prettylittlething brands, has become a hit with a generation of younger consumers who shop on their mobile phones and share fashion tips on social media. Published: 10:25 GMT, 17 June 2020 | Updated: 14:36 GMT, 17 June 2020. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. A person close to Boohoo said the outlay on the Oasis and Warehouse brands would "hardly make a dent" in the £197m of fresh equity the company recently raised from shareholders for further acquisition opportunities. Put another log on, won't you? EXCLUSIVE: Armie Hammer's marriage ended after his wife found passionate messages from mystery woman who... 'We look like clowns': Boris Johnson faces calls to step in as furious Tories accuse ministers of giving... Claims PM is waiting to see if Donald Trump wins US election before sealing Brexit trade deal as hopes of a... Paedophile TV weatherman Fred Talbot is pictured drinking alone in pub one mile from school where he abused... Samsung chairman Lee Kun-hee who transformed the South Korean firm into a global tech titan dies age 78. Oasis and Warehouse are Boohoo Group’s first purchases after raising £200m last month to bankroll acquisitions, and follows the similar deal to purchase Karen Millen and Coast’s ecommerce operations in August last year.. The comments below have not been moderated. This sum could rise by another £54 million if the deal can help Boohoo shares hit 491p a share for a six-month period at some point over the next four years. That structural shift towards online-only retailers is being accelerated by the trauma caused by the coronavirus pandemic, with many chains being forced into radical restructurings. A PAWSOME offer! If confirmed, the deal will bring the number of brands within Boohoo's fast-growing empire to nine, and is expected to seek to continue a successful track record of integrating other acquisitions. Conflict of interest criticisms were refuted by Boohoo earlier this week. Covid-19: How do we get Britain shopping again? ': Furious father strips down to his PANTS before attempting to enter... Noel Gallagher is slammed for 'breaking strict Covid rules in London by partying with friends past 10pm' at... Pizza offering! They were sold to Hilco Capital, the distressed retail investor, in late April, with nearly 2,000 jobs at the chains lost when their stores were closed for the last time. Coronavirus: Boohoo swoops on former high street stars Oasis and Warehouse, The deal will bring the number of brands within Boohoo's fast-growing empire to nine, Oasis and Warehouse Group collapsed into administration earlier this year. It comes as Boohoo is planning to capitalise on the shake-up in the retail sector, having raised £197.7 million in an investor cash call last month to 'take advantage of numerous M&A (mergers and acquisitions) opportunities that are likely to emerge in the global fashion industry over the coming months'. The Oasis and Warehouse Group closed its website and all stores and concessions at the end of April, after administrators failed to find a buyer, resulting in 1,803 redundancies.. Boohoo Group will integrate the two brands onto its platform over the coming months. The customer profile of the Oasis and Warehouse is closer to Karen Millen and Coast's 25-45 year-old age bracket than the younger appeal of the group's other brands. Boohoo, which was set up in 2006, now has a market value of almost £4.7bn, making it more than double the size - in market capitalisation terms - of Marks & Spencer. The struggling high-street stores went into administration in April with the loss of more than 1,800 jobs. The brand said today it would top market expectations for profits and sales again this year after first-quarter results showed revenue up 45 per cent. AO opens its largest distribution centre, creating 120 jobs, Boohoo records half-year revenue growth of 45%, Boohoo responds to independent review into supply chain “failings”, Covid-19: Next performs above expectations as warehouse capacity grows, Covid-19: JD Sports to focus on eCommerce following pandemic. He leads a playboy lifestyle, regularly travelling by private jet to socialise with the likes of P Diddy, Jennifer Lopez and Denzel Washington. His wealth has allowed him to buy a fleet of cars, including two Rolls-Royce Phantoms, a £300,000 Lamborghini Aventador, a £92,000 customised G-Class Mercedes and a high-end Range Rover. The deployment of Boohoo's firepower on a number of fashion brands which have enjoyed a standalone presence on UK high streets for decades further underlines the rapid change taking place in the industry. The price being paid for the brands was unclear, although an insider said it was "considerably less" than the £18m Boohoo paid for Coast and Karen Millen in August 2019. The transaction was announced just days after a hedge fund called Shadowfall claimed that the deal could cost Boohoo more than three times as much. We are no longer accepting comments on this article. Boohoo's purchase of the fashion brands will underline the shifting power in British retailing, Sky News learns. Boohoo is a fashion favourite with TV personalities and reality stars, with Love Island 2019 runner-up Tommy Fury being an ambassador for their men’s department as well as fellow contestant Maura Higgins promoting the brand. The analysts said they view the acquisition of Oasis and Warehouse 'as a low risk and likely high returning opportunity, one that provides further evidence of the long-term potential in boohoo's multi-brand platform'. Evil Mick Philpott 'flirted with women in the mortuary' as he prepared to identify the bodies of five of his... ALEXANDRA SHULMAN'S NOTEBOOK: The biggest victim in the war on cars is your granny. The purchase was announced alongside its first quarter results that show a 45% year-on-year increase in revenues to £367.8 million. Lawyer who overcame breast cancer drowned herself in a river after her father died from coronavirus and a... Over-65s were the only age group to become MORE active during coronavirus pandemic, says study. Other chains, including New Look, have embarked on desperate bids to persuade landlords to agree sharply reduced rent deals. Investment in the group’s infrastructure, to support future growth, is expected to come in at between £60 million and £80 million. 'Oasis and Warehouse are two well-established brands in the UK targeting fashion-forward shoppers and are a complementary addition to our portfolio of brands,' Boohoo said. "There will be more deals to come," the person said. But for Oasis, which is now part of Boohoo’s vast collection of brands, their celebrity ambassadors have always been aimed at a more sophisticated clientele. Wealthy British ex-pat, 56, 'stabbed to death his Spanish wife, 58, shortly after having sex with her in... Tim Davie is to unveil clampdown on moonlighting BBC stars including forcing them to publicly register their... Make that NINETY TWO wins! Coronavirus self-isolation could be slashed to SEVEN days amid fears that Britons who come into contact with... Women slam Tampax over tweet celebrating the 'diversity of all people who bleed' amid calls for boycott. In an earlier statement, Boohoo said the deal for the women's fashion brand, aimed at the 14-to-24-year-old market was an 'important further step towards achieving its vision to lead the fashion e-commerce market globally.'. The ITV2 series’ Kaz Crossley, Kendall Rae-Knight and Alexandra Cane also previously had collections with Boohoo, while last year’s winner Amber Rose Gill, was signed by the firm’s fashion online retailer MissPap. Love Island stars such as Molly-Mae Hague and girl band Little Mix are among the celebrities to have publicly endorsed the Pretty Little Thing brand in recent years, with other celebrities including Kylie Jenner, Khloe Kardashian, Nicole Scherzinger and Paris Hilton also seen wearing the label.