Asos Indian rival Koovs raises £22m in London market debut March 10, 2014 AN INDIAN online fashion retailer set up by the former chairman of Asos launched on London’s Aim yesterday after raising raised £22m via a share placing. Shares in Bangalore-based Koovs were placed at 150p but jumped to 184p last night, valuing the company at around £44m. The company was founded in 2012 by Lord Alli [...]
The Power of Three: How big business could join government to support small companies March 10, 2014 IF I received a pound for every time a chief executive of a large firm said to me “we’d like to be the champions of small business”, I’d be comfortably off. However, over the past year, I’ve seen an increasing number of businesses not only voicing this statement, but acting on it. This is a [...]
What the other papers say this morning – 5 March 2014 March 4, 2014 FINANCIAL TIMES Faith, hope and hedge funds for CoE The Church of England is ramping up the exposure of its £6bn endowment to alternative investments such as hedge funds and private equity in a move that will cement its position as one of the UK’s largest single investors in these types of assets. The Church [...]
How to take Aim with growth market stocks March 4, 2014 SHARES listed on the Alternative Investment Market (Aim) have surged in popularity since August last year, when they became eligible for inclusion in Isas. And from the date the new rules were introduced until mid-February, the FTSE Aim market has outperformed the FTSE All Share, returning 18.9 per cent compared to just 2.1 per cent. [...]
MPs demand overhaul of business rates March 3, 2014 A GROUP of MPs has waded into the debate on business rates by demanding a complete reform of the current system, calling for a tax based on sales instead of the value of a property. Suggesting a series of reforms that could hit online retailers such as Amazon and Asos, the Business, Innovation and Skills (BIS) [...]
Bottom Line: AO could be the next online retail success February 26, 2014 WHITE goods retailer AO.com has done little to dissuade comparisons with Asos, the phenomenally successful online fashion retailer that floated 13 years ago – when it announced listing plans earlier this month it even named former Asos chairman Brian McBride (also an ex-Amazon UK managing director) to its board. Yesterday’s 32 per cent rise in shares [...]
BooHoo to IPO with ex-Asos boss at helm February 25, 2014 ONLINE fashion retailer BooHoo.com has appointed Peter Williams as chairman ahead of its IPO which is expected in early March. Williams is a former director of rival fashion site Asos, which floated ten years ago and is currently worth around £6bn. He is a stellar hire for the group and widely hailed as one of [...]
Former Asos director to head Boohoo for £500m IPO February 25, 2014 Ex-Asos director Peter Williams is to become chairman of Boohoo.com – a rival online fashion store – as it finalises listing plans valuing it at £500m, Sky News understands. Williams, a seasoned retailer who left the Asos board last year, is to take the reins as the company prepares to float on the stock market. [...]
7 UK retail bosses that have quit unexpectedly February 24, 2014 Mothercare’s future on the UK high street looked promising when Simon Calver, the former head of online movie rental service Lovefilm, was appointed by chairman Alan Parker two years ago to lead its turnaround efforts. The board banked on his online experience to overhaul its estate and turn the chain into a multi-channel retailer. But [...]
Here’s why one analyst is getting excited about M&S February 19, 2014 Marks & Spencer shares have jumped this morning after investment bank Jefferies upgraded the stock to reflect the retailer’s new online street cred. M&S, which has been battling to turn around its clothing business in the face of massive competition on the high street and online, has seriously impressed Jefferies with its new “industry-leading” [...]