Labour's tax grab budget and broken promises on business rates mean price rises are inevitable, warns Currys boss
I'll just buy more robots - they don't WFH: Itsu tycoon warns Labour is making it too expensive to hire staff
Trump's 'exuberance' rally is making Americans richer by the day - and he's not even President yet: ALEX BRUMMER
Toyota's second electric car sees the return of a former nameplate - do you remember the original from 15 years ago?
Energy firms WILL have to offer deals with no hated standing charges by next winter under Ofgem plans - it now adds £388 to annual bills
I'm 'hodling' Premium Bonds despite a 0% return in two years, says LEE BOYCE - but they're not a right fit for everyone…
Is a global property crash coming in 2027? 'House price prophet' Fred Harrison - who predicted last two downturns - still thinks so
UK in slow lane to rate cuts: Bank of England's caution is bad for business and first-time home buyers, says ALEX BRUMMER
MARKET REPORT: Shares in recruitment firms tumble as political and economic turmoil in Europe hits jobs
Shein's £50bn London float held up by anti-slavery commissioner and Uyghur campaign group
Ex-BP boss Bernard Looney joins board of Abu Dhabi's £63bn energy investment group XRG
Banknote printer De La Rue turns to private equity as it looks to sell a sizeable stake
ECB boss Christine Lagarde cuts interest rates for the fourth time this year as EU flounders
Nat Rothschild's Volex pulls out of its attempted takeover of smaller rival TT Electronics
CRANE ON THE CASE: I sent my £240 hairdryer to be repaired by Dyson but it RECYCLED it - and wants £99 for a refurbished model
Vanguard introduces monthly fee for investors for the first time in major shake-up
Slough 'great place to live' says estate agent after being named most miserable spot - here's four listed homes
Marketing genius or PR disaster? After Jaguar's 'Copy Nothing' controversy we look at the BEST and WORST car rebrands of recent times
Car makers 'withholding deliveries of new petrol and diesel models until January' to hit 2024 EV sales targets
Close Brothers given right to appeal against motor finance scandal court ruling
How to buy the best UK shares at a cheap price: The INVESTING SHOW on picking the right investment trust
Using a 0% credit card to help with Christmas? What you need to know - and the best purchase card deals
Energy bills will rise in January AND April, experts predict - with net zero subsidies driving a big jump
My wife and I are worried about losing our £250k mortgage-free house to fund care costs - can we sell 49% to the kids for £1 each?

DIRECTOR'S DEALS: Lord Alli, 51, Koovs chairman invests £6m in the firm

By CITY & FINANCE REPORTER FOR THE DAILY MAIL

Updated: 16:54 EST, 4 May 2016

e-mail

Minted: Lord Alli's fortune is estimated at £201m

Entrepreneur Waheed Alli, one of the few openly gay Muslims in British public life, has ploughed nearly £6million into Koovs.

Lord Alli, 51,whose fortune is estimated at £201million, set up the online fashion retailer in 2012 in a bid to replicate the success of Asos in India and beyond.

Alli, who joined the Lords as a Labour life peer in 1998, bought 23.8million shares in Koovs for 25p each. He now owns 36.7m Koovs shares worth around £10million.

The latest share purchase was part of a move by the company to raise £21.9million for expansion, by selling a total of 87.6million new shares.

Alli, born in Croydon to a father from Guyana and a mother from Trinidad, met his partner, TV producer Charlie Parsons, in the 1980s and they set up 24 Hour Productions.

It merged with Bob Geldof’s Planet Pictures to form Planet 24, which produced The Big Breakfast.

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.