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Future Lifestyle to acquire 30% stake in Koovs

Future Group will be acquire 30% stake in online fashion retailer, Koovs.com.

Future Lifestyle Fashion, the group’s subsidiary will acquire the stake for approx Rs.140 crore, and make it the largest shareholder in the London-listed fashion e-commerce company. Koovs sells its private labels and curated fashion and lifestyle products.

Further, as per the report, Koovs will issue Future Lifestyle 5,78,76,600 new ordinary shares at a price of 10 pence per share, representing 24.8% of the enlarged issued share capital, raising 5,787,660 pounds in cash.

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