Fashion cash flow blow: Online retailer Koovs makes loss due to soaring costs
INDIAN fashion firm Koovs is set to tap investors for funds as marketing costs soar.
The online business, which raised £22million when it listed on Aim last year, expects annual sales to have jumped 268 per cent.
But supporting the growth has cost £2.1million more than anticipated.
It is expected to post an annual loss of £9.2million.
Chairman Lord Waheed Alli said: "The higher costs reflect the pace of growth in India."
Shares fell 51p to 66½p.