Koovs (LSE: KOOV) is an online fashion retailer, selling own-label and branded clothing via its website to consumers in India. Growth in revenue gross sales rose by 114% in the six months to December 2016 has not yet translated into profits: it lost Rs835m in the same period.
But it hopes to gain more digital transactions in India after the abolition of high-value notes. Koovs's share price has climbed by more than 180% in the last years, although the shares peaked in July and have dipped again over the last few months.
Be glad you didn't...
Ben studied modern languages at London University's Queen Mary College. After dabbling unhappily in local government finance for a while, he went to work for The Scotsman newspaper in Edinburgh. The launch of the paper's website, scotsman.com, in the early years of the dotcom craze, saw Ben move online to manage the Business and Motors channels before becoming deputy editor with responsibility for all aspects of online production for The Scotsman, Scotland on Sunday and the Edinburgh Evening News websites, along with the papers' Edinburgh Festivals website.
Ben joined MoneyWeek as website editor in 2008, just as the Great Financial Crisis was brewing. He has written extensively for the website and magazine, with a particular emphasis on alternative finance and fintech, including blockchain and bitcoin. As an early adopter of bitcoin, Ben bought when the price was under $200, but went on to spend it all on foolish fripperies.
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