Indian online startup company Koovs aims to as big as British online retailer Asos.

Koovs, set up by former Asos chairman Lord Alli, has recently raised Rs225 crore ($37 million) from listing on AIM, a sub-market of the London Stock Exchange.

Lord Alli controls about 10 per cent of Koovs, while just under half is held by the Nahata family, which also owns Indian telecoms group HFCL.

The company plans to become India’s largest online fashion website over the next five years.

CEO Anant Nahata describes e-commerce as “a long game” and says they need more partners and funds, so the IPO will fuel expansion.

Koovs recently signed in Roy Naismith, a former French Connection executive and the deputy editor of British Vogue, as CFO.