Koovs news and archive

Koovs’ shareholders reported to request investigation into the retailer’s administrators

Shareholders in collapsed fashion retailer Koovs – known as the ‘India’s ASOS’ – are reported to have threatened legal action to remove FRP Advisory as administrator for the apparel business over its sale. Lawyers for four Koovs investors demanded an investigation into potential breaches of FRP Advisory’s duties in relation to a 3 million pounds...

Business

Online fashion retailer Koovs streamlines its business

Koovs has successfully re-financed the business and re-focused its business priorities, which includes streamlining of some of its operations. The fashion e-commerce company has been instrumental in bringing the latest in international fashion to Indian wardrobes and will endeavor to become the go-to western fashion destination for India’s...

Fashion

Founder Waheed Alli buys Koovs out of administration

Waheed Alli, founder of Indian online fashion company, Koovs Plc, has acquired the business and assets of Koovs from the administrators. The company was placed into administration after its largest shareholder, Future Lifestyle Fashions Limited (FLFL) failed to fulfil a contractual commitment to invest a further 6.8 million pounds into the...

Business

Koovs’s back and forth with shareholders stall outstanding major investment

New York – UK-listed Indian fashion e-commerce platform Koovs PLC said Monday it remains in talks with major shareholder Future Lifestyle Fashions Ltd, owned by Future Group, for completing its outstanding 6.5 million pounds investment. Koovs shares were down 31 percent at 2.50 pence each in London on Monday afternoon. As a reference, three...

Business

Koovs witnesses strong growth in the second quarter

Indian online fashion portal Koovs plc, for its second quarter reported gross order value (GOV) increase of 100 percent to 5 million pounds (6.4 million dollars, while the company said, trading margin increased to 12 percent compared to 7 percent in the same quarter last year. The company’s website traffic rose by 69 percent to 27.3 million...

Retail

Manish Arora, Koovs team up second time for a new collection

Designer Manish Arora has collaborated with online fashion retailer Koovs for the second time and the collaborative collection launched on Koovs’ website this October. Manish Arora has created a brightly colored and gender-neutral collection for Koovs to bring his signature take on Indian culture to a wider audience through his collaboration...

Business

Online fashion retailer Koovs revenues up eight per cent

London-based online fashion retailer, Koovs’ revenues have grown 8.6 per cent for the fiscal. Operating expenses grew 12 per cent. Gross order value was down six per cent from a year earlier. Koovs sells men’s and women’s western wear and accessories. Its private label products are designed in London. It has also tied up with local and...

Business

Koovs posts improved trading update, announces additional funding

Koovs, the online retailer catering to the Indian market, reported improvement on its trading on Tuesday and announced it would be receiving extra funding. The company’s gross order value (GOV) stood at 12.8 million for the year ending March, compared to 14.8 million pounds for the previous year. GOV in the second half of the year, however,...

BusinessFeatured

After securing funding in H1, Koovs buoyant about H2

For its first half to September 30, 2018, Indian online fashion retailer Koovs Plc said that revenues were down by 40 percent at 195.9 million Indian rupees (2.7 million dollars), due to reduced gross order value and an increase in sales tax. However the company’s pre-tax loss reduced by 10 percent to 580.9 million India rupees (8 million...

Retail

Future Lifestyle looking to rev up investment in Koovs

Future Lifestyle Fashions is looking to raise its investment in London-listed strategic partner Koovs PLC suggest media reports. Future Lifestyle will take its holding up to a maximum of 29.99 per cent from 16.25 per cent currently. This will be raised between 9.5 million pounds to 10.5 million pounds for Koovs. This additional investment and...

Business

Koovs manages to reduce pre-tax losses but sales decline

Indian online fashion retailer Koovs has reported 25 percent drop in its annual sales, while pre-tax losses for the 12 months to March 31, 2018 of 15.3 million pounds (19.6 million dollars), a reduction of 22 percent compared to last year. Gross sales declined by 22 percent to 14.8 million pounds (18.9 million dollars), reports Drapers. The...

Retail

Gully, cricket KL Rahul's brand is now on Koovs

Young Indian cricket superstar KL Rahul has launched exclusive lines of his new athleisure brand Gully on Koovs as he prepares with a target audience of 700 million viewers in India. KL Rahul is a prolific young batsman with a reputation for his casual athletic style. Gully is a cult brand inspired by street sport, rap and hip hop, with an...