Apparently, the purchase was small enough that the publically held American Apparel didn’t have to tell anyone they were doing it, but they just bought Oak.
Oak is one of those very cool boutiques in New York that offer the most leading-edge designs, not to mention a hang-out location for gatherings such as the weekly movie nights (i.e. “Private Idaho.”) They also have their own in-house collection that will get boosted, no doubt, from the American Apparel deal.
Actually, Oak has two stores located in Manhattan and Brooklyn, but with the American Apparel purchase, we can assume they’ll be launching more stores in the near future.
According to Sportswear International, the founders of Oak, Louis Terline and Jeff Maladena, who launched it in 2004, will remain at the helm of the store and it’s in-house collections.
No word on the cost of the transaction, but future speculation is that Oak and American Apparel will be doing big things with the hipster boutiques and brand in the future.