Koovs Share Discussion Threads

[jamesto2] 14/12/2018 10:06

Koovs signs £24m media deal with HT Media

Mon, 18th Jun 2018 08:51

(Sharecast News) - India-focused online clothes retailer Koovs has agreed a buy large swathes of advertising


over two years from the owner of the Hindustan Times, in exchange for shares and cash.

Under the agreement, Koovs will buy four £6m tranches of media from strategic partner HT Media at six-monthly intervals over a twenty-four-month period, £4.2m of which will be satisfied in exchange for new shares, while the remainder covered by cash payments.

The conversion price for the first £4.2m tranche of new shares to be issued to HT Media would be 10p per Koovs share, versus an 11.35p closing price at the end of last week. Thereafter each tranche would be priced at the lower of the firm's three-month average at the time.

Koovs' deal with HT is conditional upon the firm raising at least £6m in cash, something it said it has already received good indications of support via "positive discussions with existing and potential new shareholders".

In March, directors unveiled a strategy to raise around £50m to fund a growth acceleration plan, with the bulk of the funding dedicated to marketing and branding.

Mary Turner, Koovs' chief executive, said: "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."

"As India's best-established affordable fashion brand, we are resolutely focused on scaling the business to leverage our competitive advantages in what is the world's fastest growing economy," added Turner.

As of 0850 BST, Koovs shares had shot up 21.41% to 13.78p.

[jamesto2] 14/12/2018 09:27

Cost-saving initiatives help Koovs to narrow losses

Thu, 13th Dec 2018 09:58

(Sharecast News) - AIM-listed online


fashion retailer Koovs said on Thursday that it had narrowed its interim losses thanks to cash preservation and cost-saving initiatives.

In the six months to 30 September, the pre-tax loss narrowed to £6.4m from £7.8m the year before, with revenue down 40% to £2.1m. Operating expenses fell by 28% to £5m in the first half, while marketing spend was reduced by 46% and stock levels were cut by 49% to conserve cash.

During the period, the group secured a commitment of up to around £45m of funding, with £21.8m already received in the second quarter, to deliver on its ambitions to achieve scalable growth in the coming years.

Koovs received an investment of £5.8m in July from India's largest retail group, Future Lifestyle Fashion Limited, with an additional £9.5m to £10.5m to be subscribed for upon satisfaction of certain conditions. In addition, Indian media company and Hindustan Times owner HT Media has made an equity investment worth £17.1m over four years, while a further £12m was secured from directors and existing and new shareholders.

Chief executive officer Mary Turner said: "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."

At 0955 GMT, the shares were down 4.2% to 8.48p.

[jamesto2] 14/12/2018 09:26

Cost-saving initiatives help Koovs to narrow losses

Thu, 13th Dec 2018 09:58

(Sharecast News) - AIM-listed online


fashion retailer Koovs said on Thursday that it had narrowed its interim losses thanks to cash preservation and cost-saving initiatives.

In the six months to 30 September, the pre-tax loss narrowed to £6.4m from £7.8m the year before, with revenue down 40% to £2.1m. Operating expenses fell by 28% to £5m in the first half, while marketing spend was reduced by 46% and stock levels were cut by 49% to conserve cash.

During the period, the group secured a commitment of up to around £45m of funding, with £21.8m already received in the second quarter, to deliver on its ambitions to achieve scalable growth in the coming years.

Koovs received an investment of £5.8m in July from India's largest retail group, Future Lifestyle Fashion Limited, with an additional £9.5m to £10.5m to be subscribed for upon satisfaction of certain conditions. In addition, Indian media company and Hindustan Times owner HT Media has made an equity investment worth £17.1m over four years, while a further £12m was secured from directors and existing and new shareholders.

Chief executive officer Mary Turner said: "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."

At 0955 GMT, the shares were down 4.2% to 8.48p.

[jamesto2] 14/12/2018 09:26

Cost-saving initiatives help Koovs to narrow losses

Thu, 13th Dec 2018 09:58

(Sharecast News) - AIM-listed online


fashion retailer Koovs said on Thursday that it had narrowed its interim losses thanks to cash preservation and cost-saving initiatives.

In the six months to 30 September, the pre-tax loss narrowed to £6.4m from £7.8m the year before, with revenue down 40% to £2.1m. Operating expenses fell by 28% to £5m in the first half, while marketing spend was reduced by 46% and stock levels were cut by 49% to conserve cash.

During the period, the group secured a commitment of up to around £45m of funding, with £21.8m already received in the second quarter, to deliver on its ambitions to achieve scalable growth in the coming years.

Koovs received an investment of £5.8m in July from India's largest retail group, Future Lifestyle Fashion Limited, with an additional £9.5m to £10.5m to be subscribed for upon satisfaction of certain conditions. In addition, Indian media company and Hindustan Times owner HT Media has made an equity investment worth £17.1m over four years, while a further £12m was secured from directors and existing and new shareholders.

Chief executive officer Mary Turner said: "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."

At 0955 GMT, the shares were down 4.2% to 8.48p.

[hotaimstocks] 14/12/2018 09:20

Cost-saving initiatives help Koovs to narrow losses

Thu, 13th Dec 2018 09:58

(Sharecast News) - AIM-listed online


fashion retailer Koovs said on Thursday that it had narrowed its interim losses thanks to cash preservation and cost-saving initiatives.

In the six months to 30 September, the pre-tax loss narrowed to £6.4m from £7.8m the year before, with revenue down 40% to £2.1m. Operating expenses fell by 28% to £5m in the first half, while marketing spend was reduced by 46% and stock levels were cut by 49% to conserve cash.

During the period, the group secured a commitment of up to around £45m of funding, with £21.8m already received in the second quarter, to deliver on its ambitions to achieve scalable growth in the coming years.

Koovs received an investment of £5.8m in July from India's largest retail group, Future Lifestyle Fashion Limited, with an additional £9.5m to £10.5m to be subscribed for upon satisfaction of certain conditions. In addition, Indian media company and Hindustan Times owner HT Media has made an equity investment worth £17.1m over four years, while a further £12m was secured from directors and existing and new shareholders.

Chief executive officer Mary Turner said: "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."

At 0955 GMT, the shares were down 4.2% to 8.48p.