Please fill in your details to download the Table of Contents of this report for free. We also do customization of these reports so you can write to us at firstname.lastname@example.org in case you need any other additional information.
Under existing shareholder authority, Koovs will issue FLFL with 57,876,600 new ordinary shares at a price of 10p per share, representing 24.8 per cent of the enlarged issued share capital raising £5,787,660 of cash. It is intended that up to two representatives of FLFL will join the board of Koovs in due course.
FLFL owns and markets some 30 fashion brands through exclusive brand outlets, department stores and multi brand outlets, as well as company-operated chains such as Central and Brand Factory. FLFL collectively operates more than 400 stores encompassing over 6 million square feet of retail space and is 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. With support from a large retail channel, FLFL also leverages its strong portfolio of own brands that contribute to approximately 40 per cent of total sales, thereby creating a distinctive, integrated fashion play. Led by Lee Cooper, It's top six 'power brands' contribute approximately 60 per cent of FLFL's revenue from own brands.
"This marks a giant step forward in the Koovs' journey to win the e-fashion market in India. 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," Lord Alli, Chairman of Koovs, said.
In addition, Koovs has also announced the formal opening of a bookbuild to raise up to £10m of equity at a price of 15p per share (the "Equity Raise"). The Equity Raise is conditional upon, inter alia, shareholder approval. Alli has committed to invest £1.5m in the Equity Raise and FLFL has conditionally agreed to make additional investments to take its ownership up to 29.9 per cent..
"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," Kishore Biyani, Future Group managing director and group CEO, said. (RR)
Fibre2Fashion News Desk – India
| On 4th Jul 2020
Twenty UK retailers have signed a declaration to develop a road map...
| On 4th Jul 2020
Kenya's Thika Cloths Mills that was on the brink of closure following ...
Amazon, the largest online retailer, has joined CanopyStyle...
Indian fashion industry
Cotton consumption will keep growing in the Indian fashion industry
ITME is an occasion not only to receive new leads but also to work on...
Sri Lanka has a good sustainable track record and strong stories to back it
<div>Italian company Tecnomeccanica Biellese specialises in planning and...
<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...
<div>Inkbank is a leading supplier of inkjet inks and inkjet printing...
Schlegel und Partner GmbH
<div>Schlegel und Partner is the market research and consultancy company...
Justin Chan & Shyam Gollakota
University of Washington
A fabric that can store data without any electronics or batteries has been ...
German company Dilo Group is one of the leading equipment suppliers of...
"We should not compare India and the West. There are things we do that...
<b>Sidharth Sinha</b> has contributed to the successful rebirth and...
India Boulevard is a San Francisco-based curated fashion marketplace that...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.