<article><a style="color: #000080;" href="http://dealstreetasia.com/tag/ht-media">HT Media Ltd</a>., one of India&#8217;s largest media houses, has agreed to acquire 8.31 per cent stake in<a style="color: #000080;" href="http://dealstreetasia.com/tag/koovs"> Koovs plc</a>, the UK-based parent of Indian lifestyle e-tailer Koovs.com for 3 million pounds (about $4.4 million).</article>

<a style="color: #000080;" href="http://dealstreetasia.com/tag/ht-media">HT Media Ltd</a>., one of India&#8217;s largest media houses, has agreed to acquire 8.31 per cent stake in<a style="color: #000080;" href="http://dealstreetasia.com/tag/koovs"> Koovs plc</a>, the UK-based parent of Indian lifestyle e-tailer Koovs.com for 3 million pounds (about $4.4 million).
HT Media is purchasing 12 million shares at 0.25 pounds each, it said in a stock exchange filing. The deal is subject to approval from Koovs pls, and is expected to close by 30th June 2016.
This investment comes close on the heels of Koovs Plc raising 21.9 million pounds ($32 million), mainly from existing investors and the rest from institutional investors, including Ruffer LLP. In January this year, Waheed Alli and Nahata family also committed an investment of $5.4 millon in the startup.
At the time of raising the funds in April, Koovs had said that the funds would be used to acquire the remaining 38.6 per cent stake in in Koovs Marketing Consulting Pvt Ltd making it a 100 per cent subsidiary of the London-based parent. The funds were also to be used for a multi-channel marketing campaign, meeting working capital requirements.
The company runs an inventory-led model and competes with the likes of Flipkart-owned Myntra and Rocket Internet’s Jabong in the Indian market. It offers its private label apart from over 150 international brands and exclusive style collaborations.
Recently Koovs announced that it clocked gross merchandise value of $14.5 million for the year through March 2016, an increase of 189 per cent on year. It further said its web traffic more than doubled and its conversion rate rose 55 per cent.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-digest-koovs-raises-fresh-funding-39273/">India: E-commerce startup Koovs’ UK-based parent raises $32m</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/koovs-posts-three-fold-jump-in-sales-26658/">India: Ecommerce startup Koovs posts three-fold jump in sales</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/planet-gogo-raised-seed-funding-from-ht-media-nbm-24596/">India: News aggregator Planet GoGo raises seed funding from HT Media, US-based NBM</a>
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Indian media house HT Media Ltd has agreed to acquire 8.31 per cent stake in Koovs plc, the UK-based parent of Indian lifestyle e-tailer Koovs.com for $4.4m.

India: HT Media to acquire minority stake in Koovs for $4.4m

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India: HT Media to acquire minority stake in Koovs for $4.4m

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