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Tuesday 20 March 2018

Koovs inks deal with N Brown

It comes amid growing overseas expansion at the London-listed Indian company.

LSE death
LSE death

By Ravender Sembhy, Press Association City Editor

Online fashion firm Koovs has announced its entrance into the UK market through a tie-up with plus-size retailer N Brown.

The London-listed Indian company has struck a deal to sell its Koovs Private Label young fashion apparel through N Brown’s Simply Be brand.

It comes amid growing overseas expansion at Koovs after being stung domestically by the Indian government’s demonetisation programme.

Chaired by ex-ASOS man Lord Waheed Alli, the retailer saw pre-tax losses deepen to £19.3 million in the year ending in March, compared with a £16.7 million loss in 2016.

The firm said it had seen lower margins and higher costs, while also taking a hit from the impact on the wider market from Indian government efforts to root out illicit cash by cancelling high denomination bank notes.

Koovs has also recently announced a distribution deal in the UAE through as part of efforts to grow internationally.

Koovs boss Mary Turner said: “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.”

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