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Oki-Ni snapped up by ecommerce group

Premium etailer Oki-Ni has been bought by menswear ecommerce and media group MenInvest.

With the support of the group, which is backed by investors Axa Private Equity, Partech International, 123 Venture and Orkos Capital, Oki-Ni’s website will see investment ploughed into product offer, service and marketing.

The etailer is expected to bolster MenInvest’s existing ecommerce portfolio, which attracts 1.5 million unique visitors per month across 60 countries.

As part of the deal, Oki-Ni co-founders Ben Banks and Charles Perez will become shareholders and advisers of the MenInvest group.

The Oki-Ni London team and office will remain in place.

Perez said: “Online retailing specifically for menswear is still a new sector, with huge potential for growth. This strategic alliance puts us in the best position to take advantage of the huge opportunities available in the global menswear fashion market.”

The etailer was founded in 2001 and sells premium and designer brands such as Alexander McQueen, Comme Des Garcons, Kenzo and Maison Martin Margiela. ships to more than 75 countries including the US, Japan and Germany.

MenInvest founder Marc Menase said: “I am very proud of this acquisition as it reflects the entrepreneurial values of MenInvest. It is a key piece of our growth strategy to reach €100m (£84.6m) revenue by 2016 and become the global online men’s fashion destination.”

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