Home / Knowledge / News / Fashion / Koovs plc raises £26.2 mn in latest round
Koovs plc raises £26.2 mn in latest round
02
Jul '16
Courtesy: Koovs
Courtesy: Koovs
UK-based Koovs plc has announced the closing of the current round of capital raising (April 29 to June 30, 2016), bringing the total capital raised during this round to 26.2 million pounds. This is comprised of 23.2 million pounds from a range of new and existing investors and a 3.0 million pounds strategic investment by HT Media Limited.

"We are delighted with the successful closing of this financing round, having secured strong support from international institutional investors and one of India's largest and most well-respected media groups. The funds raised provide a strong financial platform from which to deliver our growth plans as we continue to focus on building the Koovs business to become India's number one western fashion destination by 2020,” said Mary Turner, CEO of Koovs.

Koovs, an online fashion store, confirmed that it has raised gross proceeds of a further 1million pounds finalising an investment from an existing institutional investor through the issue of 4,000,000 New Ordinary Shares at a price of 25 pence per Ordinary Share. This issuance is the third and final tranche of shares to be issued under the Capital Raising which was announced on 29 April 2016 and which closed on Thursday.

In line with the Company's strategy, the funds will be used for investment in marketing, Koovs said in a statement.

These Third Tranche Shares represent approximately 2.7 per cent. of the existing issued share capital of the Company. The Third Tranche is conditional upon Admission becoming effective. Application has been made for the Third Tranche Shares to be admitted to trading on AIM. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: BekaertDeslee

Textiles | On 23rd Oct 2017

BekaertDeslee to expand North American facility

BekaertDeslee, one of the largest manufacturer of mattress textiles...

Courtesy: A&E

Textiles | On 23rd Oct 2017

A&E unveils Magic using Repreve sewing thread

American & Efird (A&E), a leading developer of industrial and...

Courtesy: Messe Frankfurt

Textiles | On 23rd Oct 2017

Over 4,000 exhibitors attend Intertextile Shanghai 2017

Another successful Intertextile Shanghai Apparel Fabrics has wrapped...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.1%
No
12.7%
Skip
11.3%

Total Votes: 71

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
28.2%
Skip
9.9%

Total Votes: 71

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.9%
No
9.9%
Skip
4.2%

Total Votes: 71

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
76.1%
No
11.3%
Skip
12.7%

Total Votes: 71


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search