Sunday, August 18, 2019

Koovs crushes sales targets


Koovs has reported a year of skyrocketing sales, reaching £10m above  its own target.

The Indian fashion etailer enjoyed a 189% increase in sales year-on-year for the 12 months to March 31. Website traffic rose 110% in the period, with the Koovs official site regularly exceeding 1m weekly visitors. At the end of the year, the site had 1m registered users: an increase of 226% on the previous year.

“Our focus is to bring affordable western fashion to the growing urban, aspirational, youth movement in India – a market that represents 75% of all online transactions across India,” said Chief Executive of Koovs and former Asos Non-Executive Director Mary Turner.

During this time the etailer expanded its offering by launching new categories, such as denim, as well as pieces from its collaboration with designers Henry Holland, Giles Deacon and Manish Arora. Koovs also signed a partnership with illustrator Hattie Stewart, who has previously worked with the likes of Adidas and House of Holland.

“Hattie Steward is one of the most interesting designers coming out of London right now,” Turner continued. “Her fresh and playful style correlates exactly with our target market.”

At present Koovs only delivers in India. The ecommerce demographic in India is growing quickly, with the median age for online customers being 27, compared to 40 in the UK.