Koovs Plc (KOOV): The Future is here
Shortly after its deal with Hindustan Times, Koovs has announced an even more important tie-up with a major Indian partner: Future Lifestyle Fashions Ltd (FLFL), part of The Future Group, will take a 29.9% strategic stake in Koovs, providing not only financial firepower but all the major synergistic benefits possible from one of India’s largest fashion retailers. Simultaneously, Koovs has announced an additional £10m equity raise at 15p per share. With the capital and the partners, Koovs now has the substantial platform on which to build India’s leading fashion e-tailer and has financially de-risked the whole venture.
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