Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Millennial shoppers fuel rising revenues at Koovs

Indian etailer Koovs has announced soaring revenues, as millennial Indian shoppers flock to the site.

Revenue for Koovs was up 49% to £8.7m for the year to 31 March 2017, year on year, and gross sales were up 65% to £18.6m.

Website traffic increased by 79% to 78.5m, and 40% of sales now come from the Koovs own brand.

CEO Mary Turner credited these strong results to Koovs’ “highly distinctive and targeted brand marketing [which] has further established Koovs fashion authority among our core market of India’s 18-to-34-year-olds”.

However, the company also announced a pre-tax loss of £19.3m, as it battles capital decline and cost controls in India. Turner nevertheless noted that Koovs had “significantly” outperformed India’s ecommerce market by more than five times during “the challenging period of demonetisation, which impacted the entire Indian economy”.

She added: “The focus for 2018 is to build on these foundations for sustainable growth towards profitability in 2020 and to further capitalise on the unique growth prospects of India’s fashion ecommerce market, for the benefit of our shareholders.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.