13 December 2018
("Koovs" or the "Company")
Future Group's Avni Biyani Appointed as Non-Executive Director
as Anant Nahata steps down
Koovs plc (AIM: KOOV), the fashion-forward business focused on the young Indian e-commerce market, is pleased to announce the appointment of Avni Kishore Kumar Biyani (age: 29) as Non-Executive Director with effect from 01 January 2019.
Avni is a director of Future Lifestyle Fashions Limited, a significant shareholder in Koovs plc and part of India's largest retail business Future Group. She is also a director of Future Ideas Company Limited, Surplus Finvest Private Limited, Future Capital Investment Private Limited, Hain Future Natural Products Private Limited and Mibelle Future Consumer Products AG. Avni has been closely involved with the conception and launch of Future Group's fashion brands such as Cover Story, and is the founder and concept head of India's pre-eminent gourmet chain Foodhall, which is also part of Future Group.
Avni has a degree in sociology and political science from New York University, and in the last five years, she has also been a director of PIL Industries Limited, Ryka Commercial Ventures Private Limited and Idiom Design and Consulting Limited.
Lord Alli, Chairman of Koovs, said: "Avni has a wealth of experience and proven success in building major brands in the Indian market. She will extend and deepen the Board's understanding of India's millennial generation and will help the Company maximise the significant opportunities presented by the strategic partnership with Future Group. Avni will be a great asset and we welcome her to the Board. "
The Company also announces that Non-Executive Director Anant Nahata is stepping down from his position on the Board of Koovs plc. Anant founded the Koovs online fashion platform with Chairman Waheed Alli in 2013 and has been a major contributor to its development as a technology-driven fashion e-commerce destination in India.
Lord Alli said: "We would like to thank Anant for the incredible energy and expertise he has brought to the Board over the last five years and his significant contribution in making Koovs an exciting and seamless online fashion experience for a new generation in India."
There are no further disclosures required in accordance with AIM Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.
Notes to Editors
Koovs is focussed on building KOOVS.COM into the leading fashion destination in India. The Company is headquartered in London, where the majority of its design and buying team is based, with all other operational functions based in India.
For further information please contact:
Mary Turner / Robert Pursell
Tel: +44 (0)20 7151 0170
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Tel: +44 (0) 20 7418 8900
Lucy Legh / Rob Walker / Charlie Twigg
Tel: +44 (0)20 3805 4822
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