Koovs nine-month sales double

For the nine months ended December 31, 2016, sales of Indian online fashion retailer Koovs doubled year-on-year. The company feels sales growth will be impacted by demonetisation but maintains it would not affect profitability targets for the 2017 financial year. The company runs an inventory-led model. Headquartered in London, Koovs offers its own private label, apart from more than 150 international brands of clothing, footwear and accessories through its website and mobile app. Koovs receives 3000 to 4000 orders a day with an average ticket size of Rs 1,500 to Rs 1,600.

The retailer is looking to add 500 to 600 style lines per month. Koovs has launched designer labels Gauri and Nainika in keeping with its plan of introducing two or three designer collaborations each year to expand its product offering. The number of lines or category of apparels offered by its private label—Fashion Basics and K Denim—is now 10,000 and account for over 42 percent of all sales. It plans on adding more categories in the future with recent additions including knitwear, party wear, and tailoring categories.

Since FDI is not allowed in e-commerce in India, Koovs India operates as a wholesale trading entity supplying branded and private label fashion products only to Marble E-retail.