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As for Paul Scott, he's heavily invested in another online fashion start up Sosander (LON:SOS), mainly aimed at older/mature women in the UK. The company has the same market cap as Koovs (LON:KOOV) of GBP 20 Million & according to Turner Pope (Broker) forecasts revenues of GBP 1 Million this year. Its all about social media. Sosander has 6000 followers on Instagram & 30,000 on Facebook. Koovs has 457,000 followers on Instagram & just under 3 Million on Facebook and rising fast. Koovs have invested tens of millions in technology & creating the brand from scratch. You just can not compare setting up a business in the UK, where growth has virtually stalled, with worries about Brexit & a totally saturated online fashion presence, where the big guns like Next (LON:NXT) & others are now finally catching up, to setting up in a nascent e commerce sector in the fastest growing major economy on Earth, the last frontier of e commerce, India. THAT IS VERY NAIVE. They are doing it fast, so they don't miss the boat! They are scaling up growth just like they did with ASOS (LON:ASC) when the e commerce sector was emerging in the UK. Definitely two different strategies.

Chairman Lord Waheed Alli We will take money when we need it. Not a penny before that because if we do that, that money is expensive http://www.forbesindia.com/article/work-in-progress/koovs-putting-a-fashionable-foot-forward/45625/1 However funded, there will be an update, combined with their UK launch on Simply Be (100% going ahead). There could even be a quarterly update (Oct, Nov & Dec). On their own admission, marketing spend was drastically reduced, so no bad surprises in store on that front. If they can show any growth, that will be a bonus. What I also believe is that they are not too concerned about the short term share price, with much of the drops being on very low trading volumes.

The former chairman of British online fashion retail giant Asos.com that grew from $14 million to a $9-billion company under his leadership within a span of 12 years, Lord Alli currently dons the role of executive chairman at online western fashion store KOOVS, which he joined in 2012. The former chairman of British online fashion retail giant Asos.com that grew from $14 million to a $9-billion company under his leadership within a span of 12 years, Lord Alli currently dons the role of executive chairman at online western fashion store KOOVS, which he joined in 2012. http://businessworld.in/article/-If-I-Had-Amazon-s-Resources-I-Would-Be-100-Times-Bigger-/07-11-2017-130780/

Lord Alli will make this work somehow, whether its raising money through convertible notes, J/V or issuing more shares. What are the learnings from Asos that you are implementing at KOOVS? I would say products and pricing are very important. Also factors such as technology and logistics are very important, and one has to get all that right. The team that I work with, we have learnt for over 12 years. We are experts in these areas, which is why we spent first two years building what we needed to build, not expensively, before we started turning on the marketing

Hindsight.com is a wonderful website. Yes their business model has failed miserably. Yes, they struggle to raise funds. Hence why I'm hoping for a Joint Venture with someone who knows what they are doing. Either that, or a quick fire sale. I have no faith in the current management, who have mislead shareholders with their lack of transparency & BS, especially CEO Mary Turner.

The delay in financing has more to do with the GBP 10 million required. That would be too short term & Alli & Nahata could find that down the back of their sofas. I personally believe that Koovs are looking into a Joint Venture JV with someone with deeper pockets who can guide & develop the company. The two big players are Flipkart (Myntra & Jabong) & Amazon India who are both looking for private labels. Now Koovs have been dealing with Amazon quite closely last year when setting up on Amazon owned Souq.com in the Middle East. Either this, or an outright sale to one of the above & a selling price is being negotiated. I wouldn't be surprised to see some sort of deal with Amazon India by the end of the weekend : )

If any genuine share holders are interested in contacting the company regarding this debacle, contact CFO Robert Pursell on company.secretary@koovs.com or ring him on 02071510170 These advanced negotiations have gone on for months, damaging the share price & credibility of the company. It is also affecting the growth as marketing spend has ceased to lack of funding. I wonder if they are not disclosing everything to the market as per LSE listing rules mmmmmm.......

The Economist Intelligence Unit has predicted a GDP growth rate of about 8 per cent for India. Discussing trends for global economies, the EIU global forecast said, "With China losing momentum, India will be Asia's fastest-growing large economy in 2018?22, expanding at an average annual rate of 8 per cent." http://indiatoday.intoday.in/story/india-to-be-best-performing-big-economy-in-2018-will-it-create-more-jobs-lessen-distress/1/1124082.html http://www.news18.com/news/business/positive-impact-of-growth-measures-to-be-seen-in-long-term-fm-arun-jaitley-1623235.html https://www.bloombergquint.com/business/2018/01/04/fitch-ratings-says-india-will-sail-past-other-emerging-economies http://www.hindustantimes.com/business-news/india-s-gdp-growth-to-pick-up-in-2018-oil-inflation-risk-factors/story-rQ294LVkHFaBy9kfxlB7XN.html The clues are all there & Lord Wahhed Alli & Anant Nahata know that!

Indias growth rate is expected to accelerate over the coming year and is likely to improve further to 7.6 per cent by 2019-20 as key sectors would revive from disruptions related to the implementation of GST and demonetisation. The subsequent narrative is of brighter growth prospects in the medium term (FY20 and beyond), when growth is expected to reap the benefits of recently undertaken structural reforms, it added. http://www.thehindubusinessline.com/economy/indias-gdp-growth-rate-may-accelerate-to-7-in-201819-hsbc/article10008410.ece

Yes I agree. The potential in India is absolutely massive. Recent reports state that it will grow at over 7% per annum every year for decades to come. PM Narendra Modi & His Finance Minister Arun Jaitley from the Conservative BJP have led the turn around. India is now growing faster than China. It is booming Lord Wahhed Alli has done all the hard work & planted the seed. I'm really hoping a deal can be finalised by this weekend. If Funding gets sorted (which I believe it will), then marketing spend can continue. Alli is a shrewd business man, been there done it & one of the richest men in the country. A bargain at 13p, have been adding more : )

Koovs H1 2016 �7.9 m Demonetisation Nov 2016 Koovs H2 2016 �10.7 m Total �18.6 m So H2 2016 despite Demonetisation saw a 35% increase (does include sales season) from previous 6 months. H1 2017 �7.9 m flat growth H2 needs to beat last years H2 GBP 10.7 m comfortably. Koovs have stated that November 2017 was 17% (GBP 1.7 m) better than the previous November. But marketing spend has dried up. Hopefully International revenues will help H2 figures. Koovs.com are now selling on the Middle Easts largest e commerce platform, Amazon owned Souq.com A capsule collection with Simply Be is being worked on & due for release very soon.

From Koovs.com corporate site: Free float As far as the Company is aware, the percentage of the Company�s issued share capital that is not in public hands is 68.7%. So only 31.3% of 175 million shares in free float. That�s about 55 million shares At 13p as Share, GBP 7 million will buy all the floating shares not held by Directors, Funds & Institutions. Going private is an option. I doubt if CEO Mary Turner will go on her own free will, has about 7 million shares in options, as she doesn�t take a salary. I believe the complexities of the current �advanced� negotiations are the % of the company the new Investor will have and/ or the future of the CEO & other pointless Directors.

From Koovs.com corporate site: Free float As far as the Company is aware, the percentage of the Company�s issued share capital that is not in public hands is 68.7%. So only 31.3% of 175 million shares in free float. That�s about 55 million shares At 13p as Share, GBP 7 million will buy all the floating shares not held by Directors, Funds & Institutions. Going private is an option. I doubt if CEO Mary Turner will go on her own free will, has about 7 million shares in options, as she doesn�t take a salary. I believe the complexities of the current �advanced� negotiations are the % of the company the new Investor will have and/ or the future of the CEO & other pointless Directors.

No, she has not lies about any figures, just didn't update the market for 9 months. The financial year starts 1st April. She waited until 19th December. The least she could have provided were quarterly updates. As for India, not really a third world country anymore- will overtake UK's GDP next year! Remember it's the fastest growing major economy on Earth & will soon become the third richest country in the world.

As I said, 9 months without a trading update, even though shareholders were demanding one. She believed in her own hype. How can a listed company not provide any sort of trading update for 9 months, then produce farcical figures? I have called for her resignation.

If the current & hopefully new Investors/ Funds don't push her out (which I think they will), then she needs to do the honourable thing & resign. Not only because of the current funding debacle, but the way she has mismanaged the company with it's flawed business model, blaming everybody but herself. Other e commerce companies in India showed good growth during the period, because they adapted better. The main reason for me for her to go is the way she has mislead shareholders & the market. Remember, that she didn't provide a single trading update until 9 months into the financial year, hiding the fact how dismally they were performing. This is not how a listed company should behave- very dishonest- then unleashing shocking figures.

Let's not forget the Institutions who must be spitting feathers, most in at 50p. They want answers too. I doubt if the CEO Mary Turner could BS them like she did to us share holders. I suspect they want her out too. Mind you, she did collect lots of air miles travelling to India every other week. As I said before, I believe these 'advanced' negotiations will centre on the percentage of the company that will be up for grabs & a revamped board of Directors with a new CEO who knows something about running a business. There's plenty of more tech savvy talent in India than before. I still have faith- but only if she goes! Either this or a quick fire sale to Flipkart (Myntra & Jabong), or Amazon India.

It's a bit like Dragons Den, but the Dragons are in full control! I suspect that they want a sizeable chunk of the company, after the shocking collapse of the share price after the rubbish Interims. I wonder if they also want a seat on the board, so that they have some sort of control on how their money is spent. I wouldn't be surprised if they also wanted CEO Mary Turner out (who has provided poor shareholder value thus far). She has proven to be all talk, no walk with her continuous waffle, blaming everyone else but herself. In fact Chairman Lord Waheed Alli really needs to look at his whole team who have all underperformed miserably.

With the delay in the final part of funding (GBP 10 MILLION), it is becoming very clear that this investor has spooked after the rubbish interims. The best bet for Koovs now is to have an active investor on board who will invest but take a sizeable chunk of the company. The likes of the Kamanis & Carol Kane from Boohoo would be ideal to assist Chairman Lord Waheed Alli. Either make them Non executive directors, or get them straight in to replace the likes of CEO Mary Turner, who unfortunately is a little past it now & has failed miserably in India, where one needs to be energetic, dynamic & have vision, oh- and knows how to run a business.

Oh Yes, Chairman & largest share holder Lord Waheed Alli is well down on his investment here, although he looks at it a lot more long term. The fact is that he has pumped in well over GBP 20 million into this so far. It's no wonder the 'Investor' held out until the rubbish Interims were out the way. The question now is at what price the fundraising will be at with the share price struggling at 13p. Also the affects of dilution. There WILL have to be more money raised at some point & Koovs know that they will have to start delivering this second half of the Financial year.