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Is it me or is the ship steadying a little? I for one am hoping a rabbit gets pulled out of a hat very soon.....
Still holding as I see inherent value here. There are companies that may want a quick route in to India and for a knockdown price this could be it. Bidding war please......
Chapsville86 - Is there any possibility that could, on just one occasion, make a useful contribution? You add absolutely zero value to this board.
Old news
Of that list, StalkBuyLove & Voonik are virtually finished. Many other fashion e commerce sites have disappeared too.
At this stage of the game, 6 years down the line, Surely Alli can pull something off.
For funding to proceed, Koovs lawyers must first exhaust all avenues with FLFL & then make that deal null & void. They have already given them three weeks to reapply, which by the looks of it they haven't. A meeting with Blackstone (FLFL backers) allegedly got nowhere.
The danger now is a placing at a low price which will cause untold dilution, but better than going into administration.
Most the names on this list are familiar, however, I scribbled down the nearest revenue and profit/loss figure I could find for each one. The one that was the most interesting here is FabAlley who ended their 2019 year with GMV of approx 126 crore versus Koovs 117.8 crore. However, interestingly FabAlley reported a profit of 3.3 crore at the EBITDA level versus Koovs EBITDA loss of £12.9m! It reported a net profit of 1.3 crore. Fab Alley are currently on course for FY GMV of 220 crore. (+75% on FY19)
FabAlley also retails via Future Group’s Central and Shoppers Stop, among others. It has 30% of the company’s overall revenues coming from its offline channels. This is expected to tilt towards 50% in the next 18-24 months.
However, according to Mint "around 45-50% of its sales from its own website are repeat purchases, while around 40% of the entire website sales come from foreign markets such as the US, UK, Middle East, and South East Asia"
https://www.indiaretailing.com/2019/10/23/fashion/faballey-announces-profitability-with-70-pc-year-on-year-growth-in-fy19/
https://www.faballey.com/
Thanks for that 'panicattack' interesting. Is the list in order of size - m/cap?
12. Koovs- Online Clothing Store for Women & Men
Koovs is an online store that offers quite a large variety of western trends. The site has a whopping 500k followers on Instagram, and this is because they offer exactly what the youthful population wants. Koovs deals with stylish tops, T-shirts, dresses, jeans, and joggers among many others. The site is exclusive when it comes to ensuring that you have only the best and high-quality clothes in your closet. Their main aim is to style up the youth, and so far they are doing a great job in that. You can shop with Koovs with as little as Rs. 300. The prices are fair, and their brand is genuine.