LONDON (ShareCast) - The former Chairman of online fashion sensation Asos (Other OTC: ASOMY - news) has set out plans to float an Indian copycat online retailer on London's AIM.

Koovs has set out plans to raise £22m with its initial public offer (IPO), according to the Financial Times.

Lord Waheed Alli, the media baron who chaired Asos between 2003 and 2012, is chair of Koovs and has brought in former Asos director Robert Bready as Creative & Retail Director, who will be backed by a design and buying team based in London.

Bangalore-based Koovs was founded in 2010 as a daily deals website, but switched course to 'lifestyle e-tailing' in 2012 when a large stake was taken by Anant Nahata, scion of the family that runs India's HFCL telecoms group.

Koovs, which even has adopted a very similar website design to Asos, now focuses on affordable western fashion rather than Indian ethnic clothing, aping celebrity fashions to appeal to middle-class working men and women aged 18-30 years, exactly like the London-based company.

The owners plan to float about 35% of the company with 44% owned by the Nahata family, 11% by Lord Alli and the remainder with management.

Hard to acquire stock this morning but good long term growth considering the Indian demographic. Huge potential in my opinion.

BY Anand Rai
Although there are a few products e-com ventures which are part of other listed firms, Koovs becomes the first pure pay Indian e-commerce venture to go public.
Lifestyle e-commerce venture Koovs listed with around 20 per cent bump in its share price on debut at London’s junior stock market AIM, becoming the first non-travel e-commerce venture in the country to go public. The public issue was fully underwritten.

The firm was trading at around 180-185 pence a share on day 1 on Monday as against the issue price of 150 pence a share. This gives it a market cap of around £44 million ($74 million).

The company said it is picking 57.5 per cent in Koovs India for £16.5 million, valuing the venture at £28.7 million or $48 million.

Koovs Marketing Consulting Private Limited (Koovs India) was established in May 2010 by Rajesh Kamra, Manish Tewari, Kanishk Shukla and Amit Shukla as a general e-commerce business. In August 2011, Infotel E-Commerce Private Limited, a company controlled by the Nahata family in India, acquired a controlling interest in Koovs India, initially focusing on the sale of mobile phones and other electronic goods. It later pivoted to become e-tailer of fashion apparel and accessories.

In September 2012, Silvergate Retail Limited (now known as Koovs plc), which was founded by British businessman turned politician Waheed Alli and retail industry executive Robert Bready, who has previously worked at ASOS and Arcadia, got associated with Koovs India. In April last year, Alli and Bready joined Koovs as chairman and creative & retail director, respectively.

As per the plan, Koovs plc is subscribing to shares of Koovs India and will become its majority (57.5 per cent) owner. Under Indian foreign investment norms, foreign direct investment (FDI) in B2C e-commerce retailing is prohibited.

To comply with the rules, the organisation structure has been overhauled with Koovs India now operating exclusively as a wholesale trading entity supplying branded and private label fashion products to Indian firm Marble E-retail Private Limited. Marble E-retail, which is independently owned and managed, now operates the Koovs.com retail e-commerce website under licence from Koovs India.

This structure is similar to various Indian e-commerce ventures which have raised foreign funding without violating the regulations.

Although there are a few products e-commerce ventures which are part of other listed firms such as HomeShop18 (which is part of Network18), Rediff and 123greetings (IntraSoft Technologies), Koovs becomes the first pure pay Indian e-commerce venture to go public.

Among others, online travel agency MakeMyTrip went public a few years ago in the US and Just Dial, which floated in Indian bourses last year, is embedding a transaction marketplace to its business search site.

It raised £22 million ($37 million) by floating on London’s junior stock market AIM. AIM is a sub-market of the London Stock Exchange, which allows smaller companies to float shares with a more flexible regulatory system than is applicable to the main market.

After listing, Alli’s holding in Koovs plc has shrunk from 49.9 per cent to 19.6 per cent; Exicom Tele-Systems (Singapore) Pte. Limited, a company connected with Anant Nahata, now holds 15 per cent as against 38.4 per cent previously and Bready’s stake has shrunk from 8.9 per cent to 3.5 per cent. Institutional investors BlackRock Fund Managers, Hargreave Hale, Henderson Global Investors, JO Hambro Capital Management and JPMorgan Asset Management (UK) now hold 7.1 per cent each while and Smith & Williamson Investment Management owns 5.9 per cent, with the remaining 20.5 per cent stake with other small shareholders.

The firm said it intends to build the Koovs private label, bring strong international brands to the Indian consumer; to extend Koovs.com's fashion credentials by bringing both established and new designers through exclusive design collaborations among others.

The funds will be used by Koovs to build stock, step up marketing and fund operating losses as the business continues its growth trajectory.

(Edited by Joby Puthuparampil Johnson)

London Evening Standard:

Koovs makes AIM debut in style
Shares in Koovs, the Indian online fashion retailer, shot to a hefty premium when they started trading on the junior AIM stock market today. Placed at 150p, the shares jumped to 181.5p. That capitalises the company, which raised £22 million, at £43.6 million. Koovs was founded by Lord Waheed Alli and Robert Bready, former product director of Asos. Most of the placing proceeds will be spent buying Koovs India

Nice rise today - it's certainly not had much publicity when you consider the management team in my opinion.

Still just me so far here - there's so much chat on Boo Hoo for this Friday but this I think could be the long slow burner. Up c. 15% today.

Well done Greyhound!

I have been watching the sp and your posts, but I tend to steer clear of retail (high street or internet) as I don't really understand why some are 'here today, gone tomorrow' and others seem to be popular for a while.
Presumably this guy is also putting ASOS's nose out of joint?

Hi guys, I've spent quite a bit of time looking at the demographics of India - very young population with an increasing amount of disposable income. Even a small percentage of this market is going to have a significant impact but it is likely to take years. I remember the set backs with Asos all too clearly when they were c. 50p and their Buncefield warehouse went up. Nice one to tuck away in the ISA and only 3 weeks until we have another allowance. Internet retail can adapt much more quickly to market trends than the high street.

Hi Greyhound, could a better chart be put in the header as that one's not very informative please.,.

Well done Greyhound.

Balerboy - lol !

WHAT.... ok eventually a better chart with vol, and macd would be nice.,.

That s a great chart ... if you bought yesterday !!! :))

Good on you Greyhound .

Beats Pets At Home!

Market cap exceeds £50m so will be a nice addition for niche funds

Balerboy, done.

lol, maybe i was a little premature but thanks anyway. I'd forgotten it had only just been launched.

I think thats a lampshade i see forming on the chart.

I wondered what you wanted to see ;) Better for the longer term though.

JP Morgan Asset Management raises stake to 7.96%

Just dipped my toe in at 188 for 2000
Found it difficult as EMS is only 600
Tried to get filled at 181 but no joy.

you may have dipped too early.......

looks like another spiffing mug-punters ipo

Joined you all here with a few yesterday --

Nice gear! -- http://ink361.com/app/tag/KOOVS

Since floating

JP Morgan have increased their holding by 200,000 = 7.96%
JO Hambro have increased by 550,00 = 9.47%

Times India reports,

http://timesofindia.indiatimes.com/entertainment/events/delhi/KOOVS-COM-hosts-a-fun-filled-evening-at-Asilo-Rooftop-Bar-Lounge/articleshow/32493374.cms?

Good post DT

KOOVS.COM hosted a fun-filled evening at Asilo Rooftop Bar & Lounge at Palladium Hotel, in Mumbai, to celebrate their collaboration with British designer Henry Holland. Guests were treated to a high-octane fashion presentation of the collection styled by designer Surily Goel and set against Mumbai's skyline. Holland said, "I'm excited to be in Mumbai and thrilled to have had the chance to create a collection just for India, which is due to launch in May - exclusively on KOOVS.COM."

Robert Bready (creative and retail director, KOOVS.COM) said, "We are excited to have Henry Holland as a guest designer. We aim to bring the best of international and local design talent to our customers, combining great fashion with affordable prices." Evelyn Sharma was spotted in one of Henry's bold designs.

I especially like this company's product launch --- Quality plus Quantity -- should be a winner.

Koovs specializes in high street brands, especially from the UK. It launches over 150 new products every week, featuring catwalk videos and 360-degree product views.

Read more: Indian fashion estore Koovs files for London IPO to keep pace with Myntra http://www.techinasia.com/indian-fashion-estore-koovs-files-london-ipo-pace-myntra/



http://www.techinasia.com/indian-fashion-estore-koovs-files-london-ipo-pace-myntra/

Just found this, recent news

http://www.houseofholland.co.uk/blogs/blog/13175001-henry-x-koovs

Rated new buy by Peel Hunt, tp 220p

Todays news --- Twelve designers in London !

http://www.business-standard.com/article/management/myntra-jabong-koovs-in-pursuit-of-designer-wear-114041001254_1.html

Similarly, Koovs, that recently went for public listing at AIM - a sub-market of London Stock Exchange - wants to be the ASOS of India, selling designer wear beyond their home markets. It already has international designer names like Patrick Cox and Melissa Odabash along with a team of twelve designers in London. Some major brands from Europe like Timberland and Glamorous from UK sell exclusively on Koovs.

Video App ---- should bump up business --

http://techcircle.vccircle.com/2014/05/07/koovs-co-founder-rajesh-kamra-launches-video-messaging-app-weiv/

Speaking on the progress, Manish Tiwari, CEO of Koovs, said, “We are growing at almost 50% month on month in terms of transactions. With the kind of scale we are achieving, it becomes inevitable for us to bring efficiency early on. With ZipDial’s authorization system we are not only saving on additional hires but also giving a better experience to our users. We will be expanding this system for collecting feedback as well.”

http://www.zipdial.com/corp/koovs-uses-zipdial-for-cash-on-delivery-verification/

https://www.henderson.com/ukpi/expert/30/expert/neil-hermon

Neil Hermon, of Henderson adds Kooves to his fund ----


30th April 2014:

"Investment trust manager Neil Hermon adds clothes retailer and infrastructure holding after selling F&C.

Henderson Global Investors’ Neil Hermon has divested his holding in F&C Asset Management following the takeover bid from Canadian group BMO.

Mr Hermon said in a client update for his £546m Smaller Companies Investment Trust that the sale of the fund group was one of a pair of disposals during the month.

The proceeds helped him purchase new positions in clothing retailer KOOVS...

Mr Hermon said his new position in Koovs was taken in part because of its ambition to exploit the growth of online retail fashion in India.

“We believe it is a credible proposition as it is run by the founders of Asos who have significant experience in this market,” Mr Hermon said.

Source:
www.ftadviser.com/2014/04/30/investments/investment-trusts/hermon-divests-holding-in-f-c-after-bmo-takeover-SdS880mP3yp0OJD404uvHN/article.html

Rated buy --- Peel Hunt, target 220p

rated rubbish in my books :-)

http://yourstory.com/2011/06/benefitsplus-moves-into-the-daily-deal-space-by-investing-in-koovs-com/

Good prelims, sales up by 57% and traffic up by 46%. Fantastic demographic to capitalise on in a market that wants westernised products with an age group that has good disposable income. They only have to obtain a small percentage of the market to reap the benefits.

it's very clear what the market thinks of this company

and you cynic ;). I'm happy to wait years - bit like buying Asos at 50p pre the first warehouse fiasco. No reaction enables me to buy more as more information hits the public domain.

More Koovs music industry/fashion promos - going well.

http://indianexpress.com/article/lifestyle/fashion/musical-muse/

the chart tells you all
this company is crap and was floated solely to fill the wallets of the directors

as i wrote back in march, "looks like another spiffing mug-punters ipo"

Totally disagree. Let's look in a year or two.

does one assume that you bought in at 180/200?

180 and 140 and possibly adding more when I've got funds in the right place (ISA), but I'm in for the long term. The market they are attracting in India is vast and the age group in question has quite a high disposal income. Middle class Indian women are not getting married so young, moving to the cities and wanting a western influence. I wouldn't underestimate the 2 ex-Asos directors. They only have to tap the market to see quite a company impact in my opinion.

http://www.mouthshut.com/product-reviews/Koovs-com-reviews-925617145

No offence to no one but asos is all about robertson, he is sort of s jobs in apple. Others just contibute.

the chart tells you all ..... modesty forbids to me to comment further

perhaps Greyhound has something to add :-)

I sold out fortunately before incurring further losses. Still holding BOO though. The lesson is to be stricter with stop loss.

so your "long term" didn't last very long then :-)
and of course no need to look further "in a year or two" either

I still like the location/demographic and story but when funding is required for start-ups, this market is unforgiving. I don't believe it's a poor business but sometimes have to preserve capital and cut losses. I shall still follow and look in a year or two - and either be grateful or curse the decision. So a stinging loss on this one but my riskier investments funded from Asos gains fortunately. Win some, lose some - this one clearly the latter!

but it was fun to tease you :-)

============

by the way, and to some extent similar though a totally different field, you may want to take a look at RM2

I shall remember that ;)

cynic, generally I'm reducing individual stocks and diversifying further into property EFTs, private equity and starting to think about more funds into commodities - metals (precious and base) and wood/forestry but still too early I reckon. Taking an approach following Harvard/Yale on asset allocation...

absolute bricks/mortar have been my best investment by a million miles .... mind you, i was ridiculously lucky when i bought a small freehold in portobello market in 1978 (and still hold)

Internet, smoke/mirrors/fashion!/Overseas and a falling sp...16p. Whoops-a-daisy!
EDIT (19Feb2016)_re tomorrow's post:-
BTW: Cynic wasn't this yr view way-back of ASOS....?
EDIT ( 29Feb2016) - Cynic - the sp does say it all - as many Dot-Coms did before - but just a few have stood out as being likely to succeed - and ASOS was one I wouldn't touch ( Huh, so I was wrong )- although recently the PE was v.high and ASOS sp has come down as folks get to see "trading figures"

I bought a few KOOV simply because the Dirs bought-in recently £1m DYOR - and paid 25p ish. whereas I paid 16p - Whilst Dir do "get it wrong" - look at MONI = dire - ( and MTV recently lost, I think ) . . . . but I don't think those Dirs ever bought huge chunks - and IMHO their abilities / Track-record was questionable . . .

Whereas KOOV is a Stock that challenges my "Rules" by being "Foreign" - so I can't see what they are up to on the Street, as it were. But it "Complies" - in that the Dirs are well-versed in the specific Market and probably have "Something to prove" - why else did they leave ASOS?

So there we have it . . . . and the sp is flat-lining at present . . . . very difficult to call the bottom - but those DIRs must surely think it's time to buy-in . . . . Of course I could lose it all - and History suggests I should put the Cash into a Betting-machine for improved ODDs . . . . But I did look at their Website ( Since that is World-wide ) and it looks OK to a very NON-fashionester like me . . . . so I'm guessing if it taps into the Indian wants, it should improve . . . . and that's why I risked my money.

Cynic - you were right from the start.....to now - KOOV has only been a disaster for investors - but is there never a hope of a "Turnaround" - ?

as i have said several times and indeed from the very off, this is a share for mugs only

("Private") Fund Raising at 25p/share appears to be finding favour..... so the recent dip ( Low=16p) would seem to be history; but perhaps that also meant there was a funding issue, but we weren't told.... (Oops!). Following earlier disclosure, my few shares at 16p appear to have gained in value . . . ( currently 25p).

Seems they have indications for £20m but may try for a further £10m to buy more of their Indian Marketing Co ( don't Understand why that wasn't already within the Co??? ). NOT keen on these private placings but that's been the way with many Businesses.
EDIT-(11May2016)- sp 25p . . . the recent Placing appears to have settled-in.
EDIT-(13May2016)-IC notes Dir purchases (& Fundraising), remains Neutral until spending is curtailed . . . . I'm reading these together as "Maybe Good" = sp=25p
EDIT -(27May2016)- Wow ! Now 40p on investment rumour....
EDIT - (6Jn2016)- dropped 6% today, now 48p - - - by 10Jn26 - 58p when does a sensible person retrieve Orig. Investment? - ie remainder is £free....
(EDIT 29Jn) - 1-wk after BrExit. sp =54p and after funding-round closed.
- the following are spot-prices for my own interest -
(EDIT 12Jy)-sp=55p. . . .. ( 25 July . . . . 71p ) . . . ( 18 Aug . . . 61p ).

Think I'll stay with boo much better looking chart.

StockMarketWire.com
Koovs reports strong sales growth of 115% year on year in the four months to the end of July and a significant increase in brand awareness from <1% to 18%.

An update says sales rose to £5m/INR473m and website traffic increased to 1.4 million visits per week, an increase of 142%.

The group has 1.2 million registered users and 1.7 million social media registered - both more than doubled.

Koovs says its strategy and business plan continue to deliver significant growth in sales and brand awareness. It says India offers a huge opportunity for ecommerce and online fashion in a rapidly expanding market which is expected to increase five-fold by 2020, to £2.5 billion.

Koovs says its 115% sales growth over this period is notably ahead of India's market benchmarks of 50% annual growth in ecommerce, and 75% in online fashion.

Chief executive Mary Turner said: "The market for online fashion in India is growing rapidly and Koovs continues to outperform market growth. Our investment in brand marketing is delivering excellent results, significantly increasing brand awareness and establishing a strong platform from which to build brand affinity and customer loyalty."

- HARRYCAT - your Post didn't say if you like this Stock . . . .?
+ I see there is an AGM soon, but it's in London, 9AM (DYOR), which says "Stay away" to my mind....
SP currently 65p.

I tend to not invest in sectors which I don't understand, so retail clothing is generally off my list. I have dabbled in BOO, but only small amounts. My understanding is that KOOV is very much India facing, so that means you have to understand what indian teenagers are wearing presumably??? Well out of my comfort zone!!!

You got to get with it Harry. :-)) Indian teens love Taylor Swift dresses.

stick with BOO harry, been in since 33p now 89p get in there.

Thanks all for the info+ Looking at India doesn't mean it's inherently wrong - just more-risky that we ( in UK ) don't know what's going on ((But then who knows what teenagers will want in 1year anyway?)) - You have to believe that Koovs has their market correctly . . . .as their RNS appear to support and another aspect is the PE Ratio . . .
For BOO that's well near triple figures ! Yikes.
For KOOV it small and slightly negative . . . .
I don not know . . . . but it strikes me that KOOV should have further to go before it becomes as dizzy as BOO.
One might argue that BOO is nearer to home, easier to check, etc. but the PE ratio like ASOS is a worry ( to me. only it seems. ), that it can only go up if more fools join in. ( This being a generic Term, I hasten to add )...

Will KOOV prove a disaster? _ It's a possibility, but so far my small-investment has tripled: so I'm considering pushing more-cash into it. =Average-Up my purchase price.... but I hate to do this....esp. for a foreign investment . . .
It makes sense ONLY if there is a smell of Dividends, or a surge in SP ( Unlikely, for the next year, I hear? ).... and some UK link guarantee, would be nice.

The KOOV AGM is late September at 9am [ DYOR ] . . . . which says stay-away - unless anyone has other ideas . . . like it's still early evening in India..... dunno.
EDIT(7Oct2016) - a week after AGM and sp is 71p - looking OK still....

I have been to India and from what I saw, the 'market stall/boutique shop' was still the preferred place to buy fashion wear for most of the city population. However, India is fast embracing the mobile phone and internet shopping, though, imo, the latter is still only the territory of the well off class (as India still has a Caste System, I am avoiding getting into specifics). Most men who wear European dress still only seem to wear cotton trousers and an open neck collared shirt. The women definitely make much more effort. As for the teenagers........I think they are the target market for KOOV, but if you have a look at the website, which bears a very great resemblance to ASOS's, much of the fashion wear I think is targeted at the young ex-pat Indian. Much of the range would not be acceptable in some parts of India.
Maybe like BOO and ASOS, this will continue to rise on momentum, but it's not without it's risks.....as are all fashion stocks. This one has the added risk of reporting in pounds but trading in Indian Rupees presumably?

Thanks for that insight HARRYCAT, you didn't say when you visited - but no matter, as KOOV dir has put lots of his own money ( £900k@25p DYOR), into shares - He may be deluded, but so far the Market is willing to believe India will grow.
Other than expensive gadgets, what else is there for rich females? - handbags, shoes, clothing..... can't see them wanting to drive cars in the cities - other than - to escape to the hills.
Currency effects agreed . . . but then this Stock breaks all my Rules:- Foreign and over 50p ( bt a few more, so my Av ~37 ( under 40p with charges)....I suspect it's much the same "risk-wise" as BOO/ASOS ....except they are now high-PE. I didn't buy ASOS when it was pence because I didn't like the notion they were copying (do they?), yet that's "Fashion" the World over? ... Good Luck....
EDIT ( 20Sept2016 )- Fell 10% today...on no News.. 59p & Buys exc. Sells...?
EDIT(30Sept2016)-missed London-AGM at 9am ( Zzzz ), but sp is 61p, so I guess no Shocks were present . . . . pity as I'd have liked to see who their target market is . . . but I doubt it's the Rich, more-likely the young upwardly mobile ( like London 60's? ), that want to be seen as Modern - and shop On-Line because they can do it quickly. It's something that M&S just couldn't do with their Customers.
EDIT (24Nov2016) - sp 52p & slipping recently.
EDIT (22Feb2017)- sp 45p - despite clever Valentine's Day advertising

now answer the other side of the equation and ask how much the directors have taken out already, including when they floated the company

the domestic indian economy is certainly doing pretty well, even though their exporting is very weak

wealthy indians probably don't buy luxury goods on line anyway as they assuredly lack cachet

I went in 2012, hangon. Mumbai, Chandrapour, Chennai, Bangalore, Mangalore, Ratnagiri.

I agree that wealthy Indians like to be seen making their purchases, so they are not KOOV target market. Looking at the KOOV website, I don't think the range offered would appeal to them either.

ouch!!
you've got a lot to make up if you really insist on hanging on

Very droll, Mr C!

StockMarketWire.com
Koovs saw group revenue double to £4.0m (INR366.7m), (H1 FY15: £2.0m (INR199.2m)) in the six months to the end of September.

The loss before tax was £9.1m (INR835m), (H1 FY15: loss of £5.7m (INR571m), in line with expectations as the business continues increase its investment in marketing and technology, to build presence in the market and grow revenues, and expand operational capabilities.

Chief executive Mary Turner said: "It has been another amazing six months of growth for both sales and new customers. We have delivered on both our strategic and financial objectives and are in line with expectations. The increases in our customer base, registered base and social followers will provide an excellent opportunity for future growth. Whilst demonetisation had a short-term impact on the market and ecommerce we have seen good growth in November and had some of our best days for sales in December.

"The Indian online fashion market is projected to grow to £2.5bn by 2020 and the combination of a strengthened management team, our exclusive London based designs and operational expertise in India, mean Koovs is well positioned to capture a significant market share in this rapidly growing market."

if you ever thought that BOO was a flakey company with questionable management, then this lot puts BOO in the shade

Agreed. Think I made the right choice with four times my investment now.

News Item ( not specifically KOOV )..Bangladesh clothing factories closed - Workers strike for $200/month ( DYOR )- so Bosses closed several factories . . . I wonder if this is the start of "robotised" factories? . . . given that Robots can work 24/7 and need little space. . . . a relatively small factory can produce many designs and can stitch little fancies (far better than humans, I'm suggesting ).... so once it's designed it will be possible for on-line Orders to be individually produced, with a little nip/tuck to exactly fit the customer . . . If this extends to men's suiting, we might see the dramatic end to Saville Row . . . the only dev. needed is a laser-measuring device that fits a lift; as Mr Average takes his Misses to the restaurant floor, using a special lift. ( US=elevator).
Still, my Job ( Grumpy ol' man), is safe-enough; until the grim reaper arrives by drone. . . . Is that a buzzing I hear?
EDIT (12Jan2017)..I read TO doubled; but so did losses...Oh well.
EDIT (28Feb2017)-Good Ns from Co .. stocks selling well, but no sp rises...~46p . . . ( 20March...45p)

StockMarketWire.com
Koovs - the fashion business focused on the young Indian e-commerce market - saw sales rise by 101% to £13.45m in the nine months to the end of December.

Koovs said web traffic, registered users and social media were all up over 100% and it had its most successful designer collaboration to date with red-carpet favourites Gauri & Nainika.

A trading update said that sales growth would be affected by demonetisation but with no overall effect on profitability targets for FY2017.

It continued : "Web traffic, registered users and social media followers have all increased by over 100%.

"In addition, the company's strategy to offer unique and exclusive designs, has resulted in the most successful designer collaboration to date.

"Launched in November, the premium party dress collection from red carpet favourites Gauri & Nainika sold out in record time, shipping over 1000 units in three days, 50% of the total collaboration collection."

Chief executive Mary Turner said: "Koovs continues to deliver excellent year on year growth and is now established socially as the favourite western fashion-forward brand in India.

"Despite the impact of demonetisation, we have doubled sales, which is testament to the team's proactive actions, the strength of our brand and the uniqueness of Koovs' fashion-forward product offer."

StockMarketWire.com
Koovs - the London listed fashion-forward online business for the twenty-something Indian consumer - has been named Most Popular Fashion Portal Preferred by Youth at the annual Global Youth Marketing Forum in Mumbai.

The Global Youth Marketing Forum and Awards, organised by CMO Asia (cmoasia.org), provide a platform for youth-obsessed brands from across the globe.

Focusing particularly on fashion, music, technology, sports and lifestyle categories, the event showcases and celebrates the latest expertise and innovation in marketing, customer engagement and social, specifically for the youth market.

Koovs said: "The youth market in India is probably the most attractive globally with the number of affluent young urbanites expected to reach 60m this year, while the market for lifestyle fashion in India is expected to reach $30bn by 2020.

"The Koovs.com portal focuses totally on western fashion for this rapidly expanding demographic."

Chief executive Mary Turner said: "The Koovs customer is twenty-something, urban, aspirational, highly connected to global culture, extremely tech-savvy and avid for western style.

"Our aim is to provide a 360 young fashion lifestyle experience across mobile and desktop, engaging customers through all the marketing channels relevant to today's youth culture.

"We are extremely excited to win this award - recognising our work in building the Koovs brand and Koovs.com as a destination site for the youth market in India."

Koovs plc, (AIM: KOOV).Bollywood sweetheart and style guru Sonakshi Sinha used her considerable social media clout to help fans dream up their ideal Valentine's Day date looks from the KOOVS.COM collection.

Leading up to Valentine's Day across all social media, and inspired by her own personal style and passion for fashion, Sonakshi and #VDAYwithKOOVS engaged with over 3.1 Million users.

Sonakshi, a very young 'veteran' of 19 Bollywood films, has a huge social media following of over 30 million internationally and a background in fashion design, studying at the Shreemati Nathibai Damodar Thackersey Women's University (SNDT).

"Sonakshi was the ideal person to inspire VDAY looks - she is massively followed by young people in India not only for her award-winning film work but she is also seriously invested in fashion having studied fashion and worked the catwalks of Fashion Week." Says Koovs.

StockMarketWire.com
Koovs has announced its strategy to expand into additional high potential markets in Asia-Pacific and the Middle East.

It said the first international distribution agreement, signed today, would launch the Koovs Private Label Collection on SOUQ.com, the leading e-commerce player in the Middle East, this summer.

The company said the Private Label Collection was currently Koovs.com's best-selling single brand, accounting for 40% of sales.

It said that working with international distribution and fulfilment partners would enable the company to leverage in-country expertise in logistics and marketing and ensure Koovs remained focused on India, which was its core territory and the fastest growing e-commerce market in the world today.

Chief executive Mary Turner said: "This is a great opportunity and I am excited to extend the Koovs brand into new territories with our first distribution deal for the Middle East.

"India remains our core market and the Private Label Collection will only be available in India on Koovs.com."

market is about as impressed as i am
i wouldn't touch this company with a bargepole ..... and yes i am well aware that i used to say the same of BOO

I agree up to a point, but the CEO is ex-Asos (look what happened to that stock) and if you had invested a year ago you would have at least doubled your money. Market Cap is low at c£85m and the sector is high risk imo, but a small punt can't hurt! Just don't invest more than you can afford to lose.

or don't invest any money at all!
i recollect that the directors were the main beneficiaries when KOOVS went public and no doubt they continue to fill their swiss bank accounts at any mug investor's expense

I think Panama or the Bahamas are the current favoured tax havens. I believe the Swiss have tightened up ! You might want to move your stash, Mr C! ;o)

mention panama to hmrc and they'll be all over you like a rash!

There's a man that knows......... harry. 😉

StockMarketWire.com
Koovs said sales rose by 87% to £18.6m in the year ended 31 March 2017, underpinned by a year-on-year 100% increase in both units shipped and repeat customers.

Koovs said the number of registered users had risen by 80% to 1.8 million and web traffic was up 77% to over 78.45 million.

Chief executive Mary Turner said: "Koovs's distinctive fashion proposition is really working with our young target market in India.

"Engagement with our young customer is delivering strong growth and we continue to significantly outperform by five-times the e-commerce sector growth in India."

Chairman Waheed Alli added: "India is now well established as the fastest growing economy in the world. Koovs's authentic global fashion is the right proposition at the right time in this major market and there remains huge confidence for its continued growth."

StockMarketWire.com
Koovs has launched its latest 'Private Label' exclusive fashion collaboration with Disney featuring Mickey and Minnie Mouse. Koovs said: "With the new Disney X KOOVS Collection, Koovs has applied its unique design-led approach, combining the iconic, retro cuteness of Disney's original characters with Koovs fashion expertise, to create around 100 modern, cool and trendy 'Pop Art' styles, including everything from shirts and t-shirts to dresses, denim and sneakers, specifically for today's fashion-forward twenty-somethings in India

"This Disney X KOOVS collection is the first in a series with Disney rolling out this year, which will also include Marvel and Star Wars."

Chief executive Mary Turner said: "We occupy a unique position in the market for affordable, authentic, aspirational and design-led western fashion for the young style-conscious customer in India.

"The Disney collaboration is another example of how we differentiate our brand in the market and this approach puts us in a strong position to expand the Koovs Collection into new territories, starting with Souq.com in the Middle East this summer."

but certainly not a unique position in the market for loading up its directors' bank accounts with little or no interest in the investors

StockMarketWire.com
Kooves will be launching a collection the Princess Collection this weekend to coincide with the wedding of the Duchess of Cambridge's sister, Pippa Middleton.

Koovs said the collection had been designed by Daniella Helayel - a favourite designer of the Duchess of Cambridge and Pippa Middleton - and was being launched only in India this weekend.

Koovs said: "The young Royals and British celebs have a huge following in India, so the collection has already created a significant buzz and anticipation amongst Koovs 20-something, style conscious customers.

"The collection features Helayel's signature fun prints, beautiful fabrics and fit and flare styles."

Peel Hunt today reaffirms its buy investment rating on Koovs Plc Ord 1p (LON:KOOV) and cut its price target to 80p (from 100p).

Think 40p would be more realistic.

i think a load of shit would be more realistic
stick to BOO which has now proved itself

Don't you just wish you'd stayed in....... 😉

me? .... BOO? ..... i have a holding in my sipp

Ah. Thought you had sold.

i did as a trading stock, but that was many ages ago at around 40p
i may even have been in/out within my sipp but currently hold on average from about 130 i think

Sales are improving massively, but their expansion plans appear to be outstripping their capital . . . so another round of fundraising is likely to batter the sp, hence recent slide..... who can guess it's at 30p ( Indian exchange-rate near ) . . . but with this cash they can continue to expand . . . it's just a shame no-=one told UK-Public Investors buying in the Market.
cynic - (Msg 96); that's a high price which did surprise me . . . hope things get better soon.... or will you Av-Dn as the sp falls towards the Placing price?

you misinterpreted .... #96 was actually related to BOO and not this heap of shit

Hot off the press and designed to impress Mr C!!! ;o)

StockMarketWire.com
Koovs - the fashion-forward business focused on the young Indian e-commerce market - has appointed Samantha Chilton as head of design.

Koovs said Chilton has more than 25 years' experience in affordable, young fast-fashion, working for leading brands such as Primark, Arcadia, New Look, River Island, Top Man, Warehouse and George, across womenswear and menswear on both the retail and supply side of the UK market.

More recently, she led the UK and Northern European womenswear design team at Primark from 2012 to 2016, when Primark was named as "a new force in the global rag trade" by the Economist in 2015.

Since Primark, she has also designed ranges targeted at Zara, Pull & Bear, Mango, Forever 21, River Island and BOOHOO.com, while working as a design consultant within supply.

results speak, not the employment of x,y or z

LOL! I thought you would be underwhelmed!

so's the market :-)

StockMarketWire.com
Koovs has announced a collaboration with one of the most anticipated Bollywood movies for 2017 - Jab Harry Met Sejal.

The film stars Shah Rukh Khan as Harry and Anushka Sharma as Sejal.

The movie - which has the strapline 'What you seek is seeking you' - follows Harry and Sejal as they travel across Europe and is set in Lisbon, Amsterdam, Budapest and Prague.

Koovs said it had created an exclusive capsule collection, as styling partner for the film, of selected women's and men's fashion from the movie which would be launched on KOOVS.COM to coincide with the film's release on 4 August.

It said the collaboration would also include a co-branded multi-media campaign featuring Shah Rukh Khan and would culminate with a social media contest to meet and greet the stars.

StockMarketWire.com
Koovs, the fashion-forward business focused on the young Indian e-commerce market, has announced an update on its intention to raise capital as previously announced on 22 May.

The company said it proposed to raise up to £18.9 million via the issue of secured convertible loan notes,

The company said it had entered into non-binding heads of terms under which certain investors have indicated interest in acquiring approximately £8.9 million of convertible loan notes, including £7.4 million from Lord Waheed Alli, a director of the company.

The company said it had also received a strong indication of interest for a further £7.5 million of convertible loan notes, which the company would seek to finalise in due course, and had the potential to secure up to a further £2.5 million.

cynic/HARRYCAT.... I understand Issuing shares for cash, creating investor dilution, which is bad. Issuing Loan-notes can be dodgy, if/as? they can be recalled at a moment's notice and possibly creating a massive funding-hole. However, if the loan is properly serviced it will be repaid ( e.g soon after New Plant goes into production, etc.).
So, the sp is slowly moving down ;( - but I suspect this is because they aren't producing stuff on new plant - so "profits" don't meet the Hype which created the sp leap earlier.
BTW I've just reached 38p-"evens" with earlier av. purchases inc. charges.

Reading their RNS everything looks rosy - but the Market doesn't like it, reading the sp.

Any thoughts where this is going?
EDIT (25July2017)- Thanks, both . . . I'm on a limb here....and that Loan-Note looks like dilution of sorts.... possibly the reason sp has pulled back.
+I don't know their Market either, but look at Jimmy Choo - Women buy their stuff when their cupboard is already full.... EH?
cynic...Dir bank Accounts? .... so which companies ( other than J-Lewis) is there a company whose Dirs aren't looking for themselves? We can't know about this one, other than it's a large target Market and they have money to spend . . . My only concern is they appear to need more, just to stay solvent.... That GM soon... is at a "Stay-Away-time" with the trains and transport being especially difficult.

personally, i have never liked this company at all
have always felt it was a way for the directors to fill their bank accounts

confess i didn't think much of BOO for a long time either, but eventually changed my mind and have done very well with it

This is one I have watched for some time, but never committed any money. No particular reason, but lots of other better prospects out there, imo. What do I know about the teen/20's Indian fashion market? Absolutely zero. Have had a look at the website and wasn't overly impressed, but then again I am not their target market. Not for me atm this one.

General Meeting will be held on 14 August - could be interesting SP wise.

StockMarketWire.com
Koovs, the fashion-forward business focused on the young Indian e-commerce market, reported sustained growth and market outperformance for the year ended 31 March.

Koovs said it saw strong gross sales order value growth at Koovs.com up 65%/87% to INR1,616m/£18.6m (2016: INR981m/£10.0m).

Other highlights:
- Positive trading margin at +4% (2016: -6%) driven by improved intake margin and managing the markdown

- Pre-tax loss stable at INR1,691.3m/£19.3m (2016: INR1,650.4m/£16.7m) reflecting implementation of capital discipline and cost control measures

- Koovs plc revenue up by 49% at INR761m/£8.7m (2016: INR512.4m/£5.2m)

Chief executive Mary Turner said: "We are pleased to have delivered strong sales growth, significantly outperforming India's e-commerce market by over five times during the challenging period of demonetisation, which affected the whole economy in India.

"Our highly distinctive and targeted brand marketing has further established Koovs fashion authority among our core market of India's 18 to 34-year-olds.

"The focus for FY18 is to build on these foundations for sustainable growth towards profitability in FY20 and to further capitalise on the unique growth prospects of India's fashion e-commerce market, for the benefit of our shareholders."

the market has the correct measure of this bunch
to be avoided!

Anyone going to their AGM...in London, 10am Friday 29Sept"17...(DYOR)... ?

I won't be going hangon, but suspect that it might be a fiesty session with the sp continually trending down. Four year chart is not pretty!

Watching from the sidelines with interest...

has been a mug's share from the outset ....... sorry but true and as posted at the time

StockMarketWire.com
Koovs is adding its Koovs Private Label young fashion brand to N Brown's high profile Simply Be arm.

The partnership will see a capsule Koovs collection available from Simply Be in exclusive larger sizes from December 2017, followed by a more extensive range for spring/summer 2018, rolling out in March 2018.

Koovs said this announcement, and the planned distribution in the UAE through Souq.com which was expected to go live within the next three weeks, further accelerates its international ambitions for its Private Label collection.

Chief executive Mary Turner said: 'We are absolutely delighted to be working with N Brown and to bring the Koovs young fashion brand to the UK with Simply Be, a brand that celebrates and empowers all women whatever their size, through fun and exciting fashion.'

i don't see anything about the company even moving towards profitablility or failing that, the directors cutting back their no-doubt massive salaries aqnd other perks

This is how to do it - Fashion house loved by Beyonce and Kim Kardashion to be floated by its 25-year-old founder

StockMarketWire.com
Koovs, the fashion-forward business focused on the young Indian e-commerce market, said it would be seeking a renewal of permission for the issue of up to £18.9m of convertible loan notes in the company.

It said that in addition to the £8.9m which had previously been received, the company remained in advanced negotiations to secure a term sheet from an investor committing to invest via the issue of convertible loan notes.

The company said it remained confident of delivering this further tranche of convertible loan notes and expected to announce the successful conclusion of this additional funding in due course.

and how much are the directors skimming out?

I attended their AGM, punters outnumbering Dirs present due to lost-tickets, illness or whatever (DYOR). However, Whilst the sp has drifted down - it's not altogether their fault...Markets!
What I'd like to know is about these "Convertible Loan Notes" for about £9m from RNS.... aren't these the same as Dilution? What is the advantage to the Company ( OR shareholders for that matter)...?
FWIW, I got the impression they were " steady-as-she-goes" - but that could be part of a massive CON..... only Time will tell. KOOV sp is 24p up from the recent 19p prior to engaging some N.Brown clothing contract... Sadly I know nowt about Indian fashions, but expect they are as silly as teens/20's here; where having the latest "gear" is at any price.... The "trick" is having what SELLS in modest quantity so it commands a high profit. The "business" is about Building a Fashion-Platform for must-check website selling . . . hopefully this won't involve anyone else..... so K gets all the profit.
Anyone pse. explain the above "Convertible" Q?

Koovs always was a crap company .... why should anyone think it is any different now?
How much do the directors strip out?

StockMarketWire.com
First half losses at Koovs fell by 15% to £7.8m and trading margin increased significantly to 18% (H1 FY17: 2%) as the group focused on high quality sales.

Gross sales for the six months to the end of September were unchanged at £7.9m but it said this was in line with India's ecommerce market which was flat, impacted by demonetisation, the introduction of the Goods and Services Tax, and heavy discounting and marketing expenditure by sector peers.

Koovs said the quality of sales improved with markdown sales reduced to 20% of sales (H1 FY17: 29%) in a market driven by high discounting.

Koovs said it remained well placed to maximise the future growth of the Indian ecommerce market and expects the market to return to growth in the next financial year.

Chief executive Mary Turner said: 'I am pleased with the progress we have made in our business fundamentals.

'Year on year Trading Margin has been improved from 2% to 18% and Brand Awareness is up from 15% to 21%. In addition, Koovs is now ranked No1 for customer experience by Forrester Research and has the highest Net Promotor Score in the fashion vertical (RedSeer) ahead of Amazon and Flipkart.

'It has been a challenging year generally for the market, however with these strong business fundamentals, Koovs is well positioned to capitalise further on the growth opportunity.'

onwards and downwards :-)

Just hope boohoo doesn't go down in sympathy. ......

BOO has proved its credentials
KOOVS has always just been a vehicle for the directors to stuff their wallets

Maybe cynic is / was right.
...but [KOOV], isn't again asking for more money, so I await any Begging-bowl ( as is so often the case with my investments!).
The Market generally has been battered by US Bond / Interest-rate worries; followed by Japan and .....(?). Also, Services in UK - after Carrillion and Redrow-builders with a begging-bowl ( need to confirm -DYOR)..... so it's not surprising any business that's not "on the UP" is pushed down..... I see OXB is down ...on News they are to receive $5m from a JV with a US-Bio . . . makes little sense to me, other than "shaking the tree" = but -5% isn't much of a shake....IMHO.
Zzzz.
EDIT (14March2018)- sp 7p4 means it's up a tad.... probably due to Dir purchase of £14k's-worth at under 7p..... does anyone know the price they are offering for the (Is it? £50m ), advertising push.... Does this imply that there is significant competition that needs to be combatted, I wonder.... Or that the Indian-Market isn't quite as buoyant as we are led to believe. This level of "begging-bowl" was a huge shock to the Market, which reacted with about the worst-fall I've seen in years. Bad News for KOOVs retail shareholders... who believed in better.
EDIT(21March2018)-sp ~6p bought a few although worried this is good after bad....what disturbs me is the lack of info on the Fundraising... has it happened already and that 5p was the asking price... -OR is it yet to happen if enough folks are willing? It's far from clear ( to me )...DYOR.
EDIT(18April2018)all IMHO. _Thanks...Harrycat has explained where the Co is cash-wise.... The £50m is a Wish, so LordAli is to make a loan to keep the co solvent, and provide liquidity - as I read it. Well, at last the situation is becoming clear - not ideal and "maybe" that is why the sp has come so low - folks don't like to be taken for fools.... but this doesn't help achieve the £50, - potential Investors will wonder if they are the fools? DYOR. sp fell slightly today to abt. 8p
EDIT ( 27April2018), see RNS.... this appears to have part-recovered the sp, now 12p so my "few" from March have about doubled....but overall, I'm in loss-country.
EDIT(18June2018)-Good-News from Indian NewsGroup - seems like Advertising-space for shares DYOR - but if KOOV is an on-line retailer, don't they have on-line ability to generate their own "news"? Seems to me that they are buying space in an area that's not interested in their clothing-product. Logic might suggest some sales will result... but better to do some sponsorship . . . like Lucky Elephants roaming the streets? I jest - but I'm not convinced this dilution is worthwhile. Sp rose, but that's prob. MM's-doing IMHO. Uncertainty hasn't "gone-Away" . . . it's really just "Started".
EDIT(20June2018)-after a 11% drop today; - it's 21p at 4:15PM
EDIT(17Oct2018)-been down over summer ( ~8p)...today up 20% (~10p) with Buys double Sells. No obvious reason, I see. Dir continue to buy this year...DYOR.

this stock barks very loudly as indeed it has from the off

Interim Funding
Koovs plc ("Koovs", or the "Company") (AIM: KOOV) notes the recent movement in its share price and would like to inform the market that it knows of no specific reason for this price movement.

On 1 March 2018, the Company announced:

- the Board had determined that a total of up to £50m of further investment would be required to fund the Company's acceleration plan;

- in the immediate term the Board would continue to focus on cash preservation; and

- as at 1st March 2018 the Company had cash balances of £3.5m, with future monthly outgoings forecast to be £0.75m per month.

The Company expects shortly to announce that it has secured interim funding via a loan of £1.5m from Lord Waheed Alli, a director of the Company. This interim funding will provide the Company with cash resources until the end of August 2018. On the basis this loan is entered into, it is expected to be classified as a related party transaction.

The Board actively continues the previously announced dialogue with potential new investors in respect of the £50m funding requirement and will update the market in due course.

StockMarketWire.com
Koovs said Monday it had entered into a conditional agreement for a 2-year, £24.0m media deal with strategic partner HT Media.

Under the agreement, Koovs would acquire four £6m tranches of media from HT Media at six monthly intervals over a twenty-four-month period.

The company said 70%, or £4.2m, of the the first £6m instalment would be satisfied by the issuance of new ordinary shares in the company to HT Media, while the remaining 30%, or £1.8m would be paid for in cash.

The conversion price for the first £4.2m tranche of new shares to be issued to HT Media would be 10p pence per Koovs share.

After the completion of initial £6m capital raise, Koovs would receive £16.8m of media and advertising services from HT Media. Koovs had also agreed to commission further media and advertising services from HT Media for £7.2m in cash to be drawn in four tranches over the 2-year period.

'We are delighted to have agreed this deal with HT Media, one of India's most influential media companies. It will mark the successful completion of the first round of funding for our strategic acceleration plan, providing us with an important platform to support our future growth,' said Mary Turner, Chief Executive of Koovs.

easy to spend money
easy to dilute the shares

clearly not so easy to preedict any profitability
clearly the direfctors are not dipping into their own pockets

3-week-old haddock!

I ate a 3-week old haddock in my youth for a bet, it cost me more in the resultant necessary medication than I won on the bet!🤣

In my defence it was after a very long night in the Star and Garter in Bromley. Not a very good excuse really is it?!😃

London, New Delhi, Rome: Today, Bollywood icon Taapsee Pannu debuts a new social media fashion collaboration with Koovs, the leading western fashion brand for stylish, aspirational 20-somethings in India. Pannu, a high-profile film star in India who has 17 million followers across social media platforms, is currently shooting her latest film co-produced by global star and film mogul Shah Rukh Khan, in Scotland.

Taapsee X Koovs campaign will comprise of her travel diaries from Italy's capital. This is the latest in a series of highly successful social media campaigns with celebrities by KOOVS that have to date reached a total social media audience of over 140 million and gained engagement with six million Koovs followers and fans of the stars. In the last three months across these campaigns, Koovs has achieved as high as 80% engagement with its social media audience, regularly double that of its nearest competitor.

Mary Turner, CEO of Koovs said: "In May Redseer Consulting reported that 58% of customers surveyed cited social media as the most influential factor in their fashion choices. So, we are very fortunate that these iconic young stars want to collaborate with our brand to bring fashion and fun from a global stage to their fans and followers."

Update on Investment by Future Lifestyle Fashions Limited
Further to its announcement of 4 July 2018, Koovs plc ("Koovs", or the "Company") AIM: KOOV is pleased to announce the completion of the investment by Future Lifestyle Fashions Limited ("FLFL"), part of Future Group -- India's largest retail group.

FLFL has subscribed for 57,876,600 new ordinary shares ("New Ordinary Shares") at a price of 10 pence per share, raising £5,787,660 of cash.

The Company confirms that the New Ordinary Shares have today been admitted to trading on AIM the AIM market of the London Stock Exchange.

Accordingly, the Company's issued share capital has increased to 233,260,291 (there are currently no shares held in treasury) and FLFL now owns 24.8% of the Company's issued share capital. The total number of voting rights in the Company is therefore be 233,260,291. The New Ordinary Shares rank pari passu in all respects with the existing Ordinary Shares.

In addition, as announced on 4 July 2018, FLFL has conditionally agreed to make additional investments to take its ownership up to 29.9% within six months of completion of the equity raise which was launched on 4 July 2018. Further information will be announced by the Company in due course.

Result of General Meeting
On 16 July 2018, the Company published its shareholder circular (the "Circular") in connection with the Capital Raising, tranches 1 and 2 of the HT Media Strategic Agreement and the renewal of the Company's general authorities to allot Ordinary Shares and disapply pre-emption rights up to approximately 33 per cent. of the nominal value of the Enlarged Issued Share Capital.

Koovs is pleased to announce that the Resolutions proposed at the General Meeting held earlier today were all duly passed by Shareholders.

The Capital Raising remains conditional on the satisfaction of certain conditions, including Admission.

Application has been made for the admission of the Placing Shares and the Subscription Shares to trading on AIM, which is expected to become effective and dealings commence at 8.00 a.m. on 6 August 2018.

Following Admission, the total number of Ordinary Shares in issue with voting rights will be 313,260,293 Ordinary Shares and Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Further details regarding the date of admission of Ordinary Shares to HT Media pursuant to the HT Media Strategic Agreement will be announced by the Company via a Regulatory Information Service in due course, subject to the satisfaction or waiver of the applicable conditions.

Issue of Equity and Total Voting Rights
Further to its announcement of 1 August 2018, Koovs plc ("Koovs" or the "Company") announces that it has made an application to the London Stock Exchange for the 67,466,668 Placing Shares and 12,533,334 Subscription Shares to be admitted to trading on AIM. It is expected that admission will become effective on or around 6 August 2018.

Following Admission, the Company's enlarged issued share capital will comprise 313,260,293 Ordinary Shares with voting rights. The Company does not hold any shares in treasury, therefore the total number of Ordinary Shares in the Company with voting rights will be 313,260,293.

Preliminary Results for the year ended 31 March 2018
Funding secured puts Koovs back on track to accelerate growth

Koovs plc (AIM:KOOV), the fashion-forward business focused on the young Indian e-commerce market, today announces its preliminary results for the year to 31 March 2018.

Mary Turner, Chief Executive Officer, Koovs, said:
"Last year was marked by concerns over funding and we managed our cash position prudently by reducing our marketing expenditure, which inevitably impacted sales. However, I am delighted that since FY18 we have successfully secured the requisite funding from a number of investors including our strategic partners in HT Media and Future Lifestyle Fashions Limited. We now have the necessary capital to put Koovs back on track, deliver on our strategy and accelerate our sustainable growth plan.

"Despite reducing our marketing spend last year, we continued to grow brand awareness and maintained our leadership position for customer experience and engagement, becoming one of Asia's most trusted brands. This shows the strength and resilience of our brand. I am also pleased we were successful in continuing to deliver high value sales with improved margins in a wider market driven by deep discounting.

"Looking ahead, growth is returning the India's ecommerce market and with our funding now secured, we are resolutely focused on scaling the business to leverage our competitive advantages as India's best-established affordable fashion brand in what is the world's fastest growing major economy."

http://www.moneyam.com/action/news/showArticle?id=6113904

The Subscription
Further to the Company's announcements on 4 July 2018 and 19 July 2018, Koovs plc (AIM: KOOV) is pleased to announce that it has signed a subscription agreement with strategic partner Future Lifestyle Fashions Limited ("FLFL"), part of Future Group - India's largest retail group, for FLFL to take its current shareholding in Koovs from 16.25% up to a maximum of 29.99%.

Under existing shareholder authority and subject to the satisfaction of certain conditions, including the approval of Reserve Bank of India ("RBI"), FLFL have signed a subscription agreement to subscribe for between 63,300,000 and 69,850,000 new ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") at a price of 15p per share, raising between £9.5m and £10.5m of cash (the "Subscription"). Once completed FLFL will own between 28.89% and 29.99% of the Company's enlarged issued share capital.

The strategic partnership with FLFL represents a transformational deal for the Company and is expected to deliver synergies across the value chain from manufacturing and distribution to market reach, marketing and customer engagement.

Lord Alli, Chairman of Koovs, said: "This additional investment and commitment from FLFL underlines the tremendous opportunity to leverage our strategic partnership and ensure that Koovs is the aspirational first choice online western fashion destination for India's twenty-somethings. The partnership will significantly benefit our customers, partners and all shareholders."

Any views on these Harry?

I hold a small amount just as a speculative punt. They are only focused on the Indian Market as far as I can see, which itself has huge potential, but also puts all the risk in one place. Most of the items on the website wouldn't appeal to the European market as far as I can tell, though I am well past the target age group anyway, so what do I know?!!!
If they can be as successful as BOO, then I should be quids in, but there seems to be a fair amount of competition within India, so anything could happen. I wonder if FFL might take a majority holding eventually, which would see me exit with a nice profit.
High risk, imo, but only a small stake and am prepared to wait a few years to see what happens.

Thanks Harry.

On the up.

like a trout looking for mayflies

StockMarketWire.com
Fashion-forward business Koovs said Thursday first-half losses narrowed as costs cuts help offset weaker revenues.

For the six months ended 30 September, the loss before tax narrowed to £6.4m from £7.8m and revenue fell to £2.1m from £3.9m a year earlier.

Operating expenses were reduced by 28% to £5.0m.

Gross order value, representing sales generated on the KOOVS.COM website during the six months to 30 September 2018, fell 32% to £4.8m.

The fall in sales was blamed on a reduction in marketing spend and stock purchases, as the company sought to preserve cash until funding was received.

The company has raised £22m, nearly half of planned £50m raise so far.

'The funding secured in H1 allows us to get back to business and in H2 to date we have restarted marketing activities and expanded the product range, increasing the current trading margin. Longer-term, the successful fundraising represents a transformational opportunity for Koovs to drive sustainable growth, enhance margins and build a path to profitability, with partners that will help us to consistently build our brand, enhance our supply chain, and grow our product range,' said Mary Turner, Chief Executive Officer, Koovs