In a fashion marriage that few saw coming, Los Angeles–based basics clothing brand American Apparel has purchased Oak, the hip New York City-based boutique with one branch each in Brooklyn and NoHo. The store, which was founded by Louis Terline and Jeff Maladena in 2004 and who still helm it, also produces an eponymous in-house collection that by such accounts as Saks Fifth Ave and Selfridges. Terline and Maladena will continue to manage the brand and also serve as creative advisors to American Apparel.
Although the monetary terms of the deal were not revealed, it was reportedly small enough that publicly held American Apparel did not have to reveal the details of it to the Securities and Exchange Commission.
It is expected that Oak will benefit from American Apparel’s retail and manufacturing capabilities and that the new parent will expand the store internationally.
Terline and Maladena did not respond to requests from Sportswear International for a comment.
Although the monetary terms of the deal were not revealed, it was reportedly small enough that publicly held American Apparel did not have to reveal the details of it to the Securities and Exchange Commission.
It is expected that Oak will benefit from American Apparel’s retail and manufacturing capabilities and that the new parent will expand the store internationally.
Terline and Maladena did not respond to requests from Sportswear International for a comment.
