HT Media acquires 8.2% stake in online fashion player Koovs for £3 mn

HT Media, which publishes Hindustan Times and Mint, has acquired 12 million equity shares of Koovs Plc at £0.25 each, amounting to a total of £3 million. With this, HT Media will hold 8.2 per cent stake in the parent company of online fashion destination Koovs.com.

The money raised will be spent by Koovs to strengthen its brand in India and various marketing initiatives.

In a release issued, Koovs stated that it will continue to use the assets of HT Media to build brand awareness in India and accelerate its growth.