Online fashion retailer Koovs has posted gross sales worth Rs 47.3 crore (£5m) for the trading period of April 1 to 31 July 2016. In the same period last year, the company had posted gross sales worth Rs 22 crore. This signifies a growth of 115% year-over-year in gross sales. Note that this value is equal to the gross sales of orders placed (including taxes) via the ecommerce store and does not represent the revenue of the company. In the previous quarter, Koovs had posted gross sales worth Rs 29.56 crore for the trading period of September 28, 2015 to January 3, 2016, representing a 210% y-o-y growth. The fashion group claims to have more than 1.2 million registered during April 1 to 31 July 2016; in the same period last year, Koovs claimed to have 0.4 million registered users. The company also said that it had 1.4 million weekly visitors to the website during the above mentioned trading period, registering a growth of 98% from 0.6 million weekly visitors in the same period last year. It has also reported a shopping cart conversion rate of 1.4% compared to 1.3% in the same period last year. The company’s claim of 115% sales growth y-o-y is “ahead of India’s market benchmarks of 50% annual growth in ecommerce, and 75% in online fashion,” Koovs added in a statement. Private Label business: The number of lines or category of apparels offered by its private label—Fashion Basics and K Denim—is now 10,000, and accounted…
