Koovs has today announced a major deal with Hindustan Times Media (“HT”). HT is taking a substantial stake in Koovs in exchange for advertising and marketing credit, providing a cornerstone investor for Koovs’ fundraising and endorsing Koovs’ strategy to become a major player in Indian fashion e-commerce. We would expect this deal to provide significant encouragement to other investors looking to fund Koovs’ next stage of development. We have not yet adjusted any of our forecasts as the deal remains conditional on further fund raising, which has not yet been agreed – but the company remains confident that terms will be agreed.
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