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Meet the woman running India's answer to Asos THE MT INTERVIEW: Mary Turner, CEO of the country's fastest-growing online fashion retailer Koovs has a track record in helping build British tech businesses. Can she make the most of the country's booming economy and large youth population? Read more at hTTP://www.managementtoday.co.uk/meet-woman-running-indias-answer-asos/leadership-lessons/article/1437346#h7EqfOlFgRwr20Sk.99

There is a 62 page annual report on their corporate website. What I did find very interesting on page 20 was the remuneration package for directors. CEO Mary Turner has voluntarily waived £200,000 of her £250,000 package. Lord Waheed Alli voluntarily waived his whole salary. Robert Bready voluntarily waived £100,000 of his salary. Anant Nahata voluntarily waived 50% of his salary. It looks like the ex ASOS management are truly dedicated to Koovs succeeding!

It's absolutely pointless using 'old school metrics' to understand tech companies at the beginning of their cycle. When do you think the likes of Apple, Facebook, Twitter, Tesla, Amazon, Uber etc. turned a profit? In fact most don't!! It's all about scaling growth & if that means negative margins & losses at the early stage to gain market share, then so be. It can go all wrong of coarse, but that's when you research the management. The ex ASOS guys here have done it all before- Lord Waheed Alli, Mary Turner, Robert Bready etc. The potential is huge here in India, the last frontier of e-commerce, where Koovs understands the customer & the market.

A very small glimmer of hope here "Mahmud Kamani, Joint Chief Executive Officer, has sold 11,252,502 Ordinary shares of Boohoo LON:BOO at a price of 220p per share" News out today.

Nearing a complete collapse in share price now as Koovs management keep their heads buried in the sand. I urge all shareholders to write to the company secretarial Robert Pursell CFO for an explanation Company.Secretary@Koovs.com

The Directors Lord Waheed Alli, Mary Turner, Robert Bready & Robert Pursell really need to get their heads out of the sand & inform beleaguered shareholders as to what is going on. The share price, sentiment & confidence is being destroyed here on a daily basis, which is not acceptable.

It's been over two weeks since Koovs announced the need for a placing & still no news. With another huge drop in the share price today, what did Koovs expect by continuously delaying the news. Mary Turner CEO really needs to get a grip here. Her actions (lack of) are destroying the share price here with Koovs now in a massive downward trend & gaining momentum. Demoralised Private Investors are mainly bailing out at huge losses. Institutional Investors must be furious after investing millions at 50p only several months ago.

They won't say when the fundraising will be or at what price. The 50p placing is well down, due to private investors getting fed up & selling out. A distressed seller was given just 28p per share for their 100,000 shares, which the market makers immediately started to sell at a huge profit. Koovs are extremely confident in the long term prospects of Koovs & India. Just have to be patient. The quarterly trading update in July could change the fortunes here. Looking for a return to triple digit growth & a massive improvement in margins.

The Capital Markets day was well attended. I think there might be a surprise or two when funding is announced. Personally, I believe it will be at a decent premium to current price. They don't want to have unnecessary dilution. I also believe there will be continuous heavy director involvement. I'm also hoping a prominent activist coming on board i.e. ASOS or Boohoo (who just raised £50 million. Ignore the scaremongering, Koovs have NOT run out of money. There is a massive advertising campaign underway. The catchy video on YouTube has already had 1.6 million views in less than a week. Big names now endorsing Koovs on Instagram. https://www.youtube.com/watch?v=J2l4IALMG1Q

"Well I hope so as I've been running a Short since 40p!!" Of course you have LOL! Strange how you didn't mention that before. Don't know many brokers who'd let you open a short on such an illiquid share like this. Who's your broker? Hindsight.com by any chance? Great to see such a huge appointment- a massive name in the fashion industry. Looking good here with a launch in the UAE in a couple of weeks followed by a launch in Asia Pacific region. Once the placing is done & dusted (most likely at a premium), there'll be plenty of cash & interest going forward. Good times ahead ; )

Macfarnie- an open offer for existing shareholders is too time consuming & expensive. Last time Peel Hunt offered 4 million shares to the public. These were taken up by 'traders' who immediately 'flipped' them, mostly at a loss. A placing at this low level would cause untold dilution & damage the reputation & credibility of the management. They have no choice but to raise money at a premium & have heavy director involvement. Those retail traders that have recently been selling, hoping to get in on a discounted placing are playing a dangerous & costly game. I doubt very much that these levels will be seen again after the placing announcement!

Looks like Koovs have upped the ante with some big names promoting their new collection on social media Sophie Choudry @sophiechoudry with 1 million followers on Instagram Prachi Desai @prachidesai with2.2 million followers on Instagram Tapsee Pannu @taapsee with 2.9 million followers on Instagram Mouni Roy @imouniroy with2.9 million followers on Instagram Krystle D'douza @krystledsouza with 2.3 million followers on Instagram

It is not in Koovs interest to have dilution at this price. Remember Lord Waheed Alli has about 38 million shares. I'm expecting decent ongoing director involvement. A down round at 40p looks to be on the cards. Koovs have previously raised at a premium. As for the next couple of months, Finals in July will hopefully show decreasing losses & improved margins together with a post fundraising cash position of at least £20 million. This will coincide with a trading update for the first 3 months of this financial year April, May & June which will hopefully be decent. Also next month Koovs to launch in the Middle East's largest e commerce platform Souq.com that has just been acquired by Amazon. Then to launch in Asia Pac region. Koovs to ride the e commerce wave in India.....: )

I wonder how their Capital Markets Day went? A bit like Dragons Den, where this shower would be laughed out of the studio. Why should previous Institutions invest here, after already being down 30% Waheed Alli, Mary Turner, Robert Bready & Robert Pursell have mismanaged this company & cost shareholders a lot of money. The only thing now preventing massive dilution & a collapse of the share price would be a placing at a premium, say 50p where the directors heavily invest together with active investors like Boohoo or ASOS, or a quick fire sale to Myntra, Amazon or anybody else who knows how to run a company. Strange how none of the directors have been buying at these levels!!!! A quick fire sale is hopefully on the cards.

Even the house broker Peel Hunt are losing patience with the amateur management here, cutting their price from 100p to 80p. Says it all really. It's getting from bad to worse with the Keystone cops in charge here.

Funny how the share price has been 'mysteriously' walked down to these low levels prior to a placing announcement. Unless they produce something spectacular this afternoon, looks like Mary Turner, Waheed Alli, Robert Bready & Robert Purcell have really screwed things up here. Remember when the share price was 70 odd pence. Was walked down to 60p then placing at 50p. Never recovered. Now walked down to 30 odd pence. I have stated before that this company needs to be run properly. A swift buyout by one of the big guns will be most welcome.

Share price in freefall & still they remain silent. If all was ok, there would be a statement or at least some director buying. EDIT: price now in free fall & the company remains silent as share price more than halves from just a few months ago. Can't sell, but can buy below 40p. Well done Lord Waheed Alli, Mary Turner, Robert Bready & Robert Pursell for providing zilch shareholder value here! You all talk the talk but can't walk the walk. I've said it before- time one of the big guns takes this out & runs it properly.

Borrowed from elsewhere- reassuring words from CFO Koovs Thank you for your email and obviously, as you are, I am not happy about the 7% reduction in the share price. I do not know of any reason why it would have moved so sharply today but given the volatility of our share price I do not think we can start to do RNS releases for this level of movement. The previous price movement announcement we did when the price spiked was at the request of AIM and for a far bigger move. The current trading today accounts for only 0.2% of our issued share capital and our 52-week low price is 25p, so may well be someone taking profits from a previous trade. I still believe we offer a very good long term opportunity to invest in the growth of ecommerce in the Indian ecommerce market. Kind Regards Rob Rob Pursell Group CFO KOOVS_Signature

Amazon will continue to invest billions in India: Jeff Bezos Jeff Bezos' remarks come amid Amazon's persistent spending in India to outrun Flipkart in the leadership race. Flipkart also just merged with Snapdeal. Fierce battle going on in the last frontier of e commerce- India. Hopefully one of those will buy out Koovs. Or maybe even Boohoo if they want a foothold in India. Mahmud Kamani, Carol Kane & the CFO Neil Catto are a class act who know how to run a company properly. The current directors of Koovs have not provided shareholder value with their flawed business model of spend, spend, spend & negative margins.

Unfortunately there is a big seller out there & has been since last November. I suspect it is one of the institutions who bought in cheaper. They DO NOT have to declare unless a threshold has been reached. Although HT Media have dumped a lot & state that they won't offload any more, I don't believe a word they say. It's a shame that they weren't looking more long term. The management of Koovs messed up & should have looked at longer term investors. They also messed up with their ridiculous spending & strategy with negative margins (still don't get why). Although I was super uber confident in the past, am a bit bored with their excuses now. They now need a real active investor on board, or this needs to be taken over by people with credibility like Flipkart or Amazon. Waheed Alli, Mary Turner & Robert Bready have been a massive disappointment that is being reflected in the share price. They all talk a good fight & the non reg rns's are just waffle & a waste of time. Very disappointed!