×
1 327
Fashion Jobs
ESTÉE LAUDER
Operations Support Manager
Permanent · Petersfield
ESTÉE LAUDER
jo Malone London - Omnichannel Operations Manager
Permanent · London
ESTÉE LAUDER
Multi-Brand - Business Manager, 37.5 Hours - Oxford - John Lewis
Permanent · Oxford
V. F. CORPORATION
Key Account Manager
Permanent · LONDON
ESTÉE LAUDER
Clinique - Consultant - Boots Bath - 28 Hours - Permanent
Permanent · Bath
CONVERSE
Strategic Account Executive
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Covent Garden, London - 20 Hours - Permanent
Permanent · London
SHISEIDO
National Account Manager
Permanent · London
TIMBERLAND
Credit Controller - French Speaking - Timberland
Permanent · CALVERTON
ESTÉE LAUDER
Clinique - Consultant - Boots Donegall, Belfast - 15 Hours - Permanent
Permanent · Belfast
ESTÉE LAUDER
Clinique - Consultant - Boots Sedley Place, London - 10 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis Stratford, London - 10 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Durham - 6 Hours - Permanent
Permanent · Durham
ESTÉE LAUDER
Clinique - Consultant - Boots Londonderry - 11 Hours - Permanent
Permanent · Londonderry
ESTÉE LAUDER
Clinique - Consultant - Boots Kensington, London - 22.5 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Donegall, Belfast - 10 Hours - Permanent
Permanent · Belfast
BRAND STABLE LTD
Wholesale Sales Executive
Permanent · LONDON
LAIDBACK LONDON
Digital Marketing Manager
Permanent · HARROW
MARSHALLS
70118-lp Detective
Permanent · Banning
ESTÉE LAUDER
Clinique - Consultant - Boots, Watford - 22.5 Hours - Part Time, Permanent
Permanent · Watford
ESTÉE LAUDER
Tom Ford Beauty - Digital Marketing Executive
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis Edinburgh - 6 Hours - Permanent
Permanent · Edinburgh
Published
Jul 4, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Koovs agrees investment deal with Indian retail group

Published
Jul 4, 2018

AIM-listed online fashion retailer Koovs has won the backing of a major Indian retail group in a ‘transformational’ deal that will help it raise cash and reach more customers.


Koovs


The company announced on Wednesday that Future Lifestyle Fashions Limited, part of Future Group, has agreed to subscribe for up to a 29.9% stake in Koovs.

Subject to the satisfaction of certain conditions, the agreement will see Koovs issue Future Lifestyle Fashions Limited with 57,876,600 new ordinary shares at a price of 10p per share. The deal will raise around £5.78 million in cash.

With over 60 brands and more than 2,000 retail stores, Future Group is one of India’s leading consumer goods companies, and one of the world’s top 10 fashion apparel companies by sales volume.

Its portfolio of 30 fashion brands are distributed through exclusive brand outlets, department stores and multi-brand retailers, as well as company-operated chains. It is described as a “unique player in the Indian fashion industry” due to its integrated ‘design to distribution’ model and presence across all key segments within the fashion industry.

"This marks a giant step forward in the Koovs' journey to win the e-fashion market in India,” Lord Alli, chairman of Koovs, said about the partnership. “FLFL with its leadership position as an integrated branded fashion player and the Koovs brand and technology platform are an unbeatable combination. This investment will bring enormous benefits to our customers and partners as well as significant value for all shareholders." 

Kishore Biyani, Future Group managing director and group CEO, added: "In FLFL we have successfully created, grown and invested in leading Indian fashion brands and are excited to partner with Koovs to continue building on FLFL's ambition. This investment would complement the existing value chain for FLFL as an integrated branded fashion player. FLFL's strong retail presence backed by owned brands coupled with Koovs online strategy will help reach more customers and create value for all stakeholders.”

The announcement sent Koovs shares soaring in mid-afternoon trading on Wednesday.

Copyright © 2021 FashionNetwork.com All rights reserved.