Member Info for putneylad66

Obviously Flipkart owned Myntra is the big competitor when it comes to online fashion in India.

For any other serious investors out there, it is worth downloading both apps & comparing what's on both.

Koovs is the clear winner. It is stylish, classy, quick, clear & with a great format.

The Myntra app is just one big jumble of a multitude of sales. It also sells Home products like bedsheets, blankets, towels, curtains, suitcases & carpets.

At least Koovs is just a standalone fashion store. Myntra looks to be like a general online store that specialises in fashion.

Am researching other apps too & will keep you guys updated.

My mistake, H1 revenues were £2.1 million, not £2 million as I stated. (Down 40% from the same period last year).

The point that I am making is that revenues have massively fallen. The question I asked was whether other Investors saw any other ways of Koovs saving money.

Lets stick to the topic concerned.

Moving forward, with revenues having dropped to just £2 million for H1, an area where savings could be made must surely be with staff costs.

Before certain posters report me, this is all on page 52 of the Koovs Annual report YE 2018

http://www.koovs.com/corporate/wp-content/uploads/2018/09/Koovs_Annual_Report_2018_web.pdf

Total group staff costs were £3.941 million (£4.42 million 2017), so slightly improved.

21 people employed in the UK & 133 employed in India, a total of 154 employees (177 YE 2017).

Company staff costs were £1.989 million (£2.334 million 2017).

Good to see that staff costs came down, which is positive.

E Sheffield is retained under a consultancy contract to supply guidance and insight into emerging fashion trends. She gets £50k for being a non exec Director & £25k for a consultancy fee, giving her £75k a year.

Where do other investors see where Koovs can save money? Do non exec Directors have much of a role? They seem to get a lot of money.

Apart from keeping the design team in London, could make sense to have a greater foot hold in India.

Yes Joe I totally agree. Selling oversize clothing on a naff brand platform is not a good look. Judging by just 7 products on it (all reduced), we can safely assume it was a disastrous venture.

Interesting to see that Simply Be's parent company N Brown reported a 3 monthly trading update, like many other retailers out there.

Was hoping for some group discussion re Koovs Interantional aspirations outside of the UK.

They still have 714 products on the Amazon owned Souq.com but only 7 discounted items on the Simply Be website.
https://uae.souq.com/ae-en/koovs/s/?as=1

A re cap from this morning.

In 2017, Koovs announced a UK tie
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up with Simply Be.

Mary Turner, CEO of Koovs says: "We are absolutely delighted to be working with N Brown and to bring the Koovs young fashion brand to the UK with Simply Be, a brand that celebrates and empowers all women whatever their size, through fun and exciting fashion."

There has been no news of progress, but looking at the Simply Be website, there are now only 7 Koovs items for sale & they are ALL discounted. Koovs is not a recognised brand in the UK, so not sure what that was all about.

https://www.simplybe.co.uk/shop/1/_/N-1ytvgps/Ntt-koovs/products/show.action?hnid=2000&type=cmr

Simply Be's parent company N Brown announced a 3 monthly trading update yesterday (Q3) just like many retailers have. They even had a conference call afterwards & a fixed date for it full year results.

Why have Koovs not bothered updating the market? They have had enough time. As they are coming off extremely poor back to back trading updates, it really is no surprise that the selling & drop in share price continues & will continue until Koovs updates the market, showing some progress.

Any thoughts?

Pred & Glen, not worth conversing with certain posters. I now filter them & do not even acknowledge their weak existence.
It's very obvious who on here is way too over exposed in Koovs.

Joe- Avni Biyani has been appointed by Future Group & is a representative of Future Group. It was said that they would appoint up to two members onto the Board.

I doubt she will be allowed to purchase off her own back- she is answerable to FLFL.
After March 27th, Future Group will control 29.9% of Koovs.

Now what if Future Group buys more shares- this is what will happen....

When a person or group acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced (30% of the voting rights of a company is treated by the Code as the level at which effective control is obtained).

http://www.thetakeoverpanel.org.uk/the-code/download-code

"but the sp is dropping. Why- because the market is waiting for figures and facts and we have been given zero on that front. Does anyone actually get that simple fact"

Glen, you are spot on, but some posters just want to bicker & belittle each other, drowning out what matters & contributing very little to the chat.

As I said before, Koovs have not updated the market. They have come off appaling/ horific back to back trading statements.

The markets & shareholders have nothing positive to go on. So as long as Koovs does not update the market on any progress, I am afraid the selling & drop in shareprice will continue.

This is NOT how to run a company & is NOT the way to treat shareholders.

Joe, the equity raise only occurs once the shares have been admitted to AIM. Since the last batch were admitted on 27/9/18, this gives FLFL until 27/3/19 to complete the second investment.

This HAS been confirmed.

So we have until 27th March 2019

In 2017, Koovs announced a UK tie up with Simply Be.

Mary Turner, CEO of Koovs says: "We are absolutely delighted to be working with N Brown and to bring the Koovs young fashion brand to the UK with Simply Be, a brand that celebrates and empowers all women whatever their size, through fun and exciting fashion."

There has been no news of progress, but looking at the Simply Be website, there are now only 7 Koovs items for sale & they are ALL discounted. Koovs is not a recognised brand in the UK, so not sure what that was all about.

https://www.simplybe.co.uk/shop/1/_/N-1ytvgps/Ntt-koovs/products/show.action?hnid=2000&type=cmr

Simply Be's parent company N Brown announced a 3 monthly trading update yesterday (Q3) just like many retailers have. They even had a conference call afterwards & a fixed date for it full year results.

Why have Koovs not bothered updating the market? They have had enough time. As they are coming off extremely poor back to back trading updates, it really is no surprise that the selling & drop in share price continues & will continue until Koovs updates the market, showing some progress.

8p could not hold & management remains silent.

mizman, I too agree that online is the future, but that could be many years away. India has a nascent e commerce sector, that hasn't fully taken off yet.

All the research that I have conducted & all the people that I have spoken to in India state that when it comes to fashion (fast), the hybrid omnichannel model is the way forward.

https://e27.co/e-commerce-companies-go-hybrid-20181008/

https://www.indianretailer.com/article/whats-hot/trends/Online-Players-Going-Offline-Giving-Push-to-a-Hybrid-Retail-Model.a5934/

'The reality remains that online is still only a fraction of the overall retail and it is going to be the same way for the next few years to the least. Majority share of the overall consumers still prefer buying offline'

The pure online model with Koovs failed. Revenue growth shrunk, then stalled & has recently nearly halved. There were many reasons which I will not go into here.

So moving forward, with the Future Group tie up, Koovs has to follow the Hybrid model to survive- but has not stated what their plans are. All we know of is a couple of small concessions have opened in Central Malls which we have gleamed off social media.

Hi Matt, hope this helps.
In 2011, the Nahata family had acquired a controlling stake in Koovs—which was set up in 2010 as a coupon deal site—and shifted its focus to the sale of mobile phones, electrical goods and apparel and accessories.)

In 2012, Nahata and Alli decided to revamp the existing online platform for affordable Western fashion. In November 2013, Alli joined Koovs as chairman and opened its design studio in London. The Indian wholesale retail firm Koovs India became a subsidiary of Koovs Plc.

http://www.forbesindia.com/article/work-in-progress/koovs-putting-a-fashionable-foot-forward/45625/1

Great having Avni Biyani on the Board as a non -exec Director & I'm sure she will demand the £50k that the other non exec Directors get.

Future Group don't seem to be doing too bad at the moment with the Koovs partnership. They have a large presence on the Koovs app with Cover Story & getting rid of stock at up to 70% off.

https://www.koovs.com/women/sale/products?type=list&sort=relevance&filter_brand_fq=1472

Off the back of a few shockingly bad trading updates, Koovs needs to ignite a little enthusiasm amongst existing & potential new shareholders. The 'green shoots' statement is simply not good enough.

It would be nice if the CFO (on £175k a year) kept shareholders updated with regular (say quarterly) updates.

Interesting looking at the Directors' remuneration from the 2018 Annual report page 27.

CEO Mary Turner waives £200k of her £250K salary. Only earns £50k, but gets shares options as an incentive.

CFO Robert Pursell earned a whopping £175k up from £132k last year!!

Robert Bready (now resigned) took £75k for 9 months work.

Chairman Lord Waheed Alli takes nothing!!

Being a non exec Director is a nice little earner.

Emily Sheffield (half sister of Samantha Cameron) earned £50k & got a consultancy fee of £25k WTF! That gave her a total of £75k.

Gail Rebuck took another £50k like she did the year before.

Nina Amin took £8,333 for two months work- not bad if you can get it.

Anant Nahata (now resigned) took £50k like the year before.

It's all there on page 27.

http://www.koovs.com/corporate/wp-content/uploads/2018/09/Koovs_Annual_Report_2018_web.pdf

Thoughts anyone?

Companies MUST put out results twice a year. A 6 month trading period from April to Sept inc & another for the 6 month trading period from Oct to March.

Outside of this, it is entirely up to the individual company.

There are many well run companies that keep their shareholders updated on a more regular babsis (quarterly updates).

Hey Matt & other genuine researchers- have a look at the Koovs monthly App downloads over the last month

Koovs had 248,545 monthly app downloads!!

That is an increase of over 12%

Mainly on Android as iphones haven't really taken off in India.

https://www.crunchbase.com/organization/koovs#section-mobile-app-metrics-by-apptopia

That is pretty good news- thoughts anybody?

graybird, what you will notice about the Financial calendar is that there is never a fixed date on it as to when they will release results. It is basically a reminder as to the deadline when they must release results within AIM rules.

Many well run companies have specific dates as to when they release results.

Koovs do NOT have to release quarterly trading updates, but again, well run companies like to keep their shareholders updated more than twice a year (Sosander for example released a Q3 trading updated yesterday)

Koovs have an opportunity to update shareholders & the market with a 3 monthly trading update. They will be now sitting on figures for Q3 (Oct, Nov, Dec).

If released, I believe that they will be good. Koovs have already stated that margins have jumped to 24% in early trading. There was also a huge advertising campaign during this period.

Loads of companies report like this. Only today, Sosander gave a 3 month trading update.

Koovs definitely have to look at better managed companies & learn to see how they keep their shareholders informed & not to keep them in the dark for long periods.

Any thoughts?

Yes Joe, the IPO was 150p. Quite ironic that a few of the trolls say 200p as well as a lot of other similar lies- hence the same person.

4.3 million shares at 7.8p was a wind up.

I can't believe anybody believed that. In fact anybody can say anything about how many shares they own ; )

4.3 million shares ave 7.8p

Now jog on back to ADVFN & chat to yourself over there.

So you just started to post today, with the same rhetoric as Pascha & his multi aliases on ADVFN. And you already know so much! Behave yourself.