Brands
Nagma Chatterjee appointed general manager at LifeWear India
MUMBAI: LifeWear India has announced the appointment of Nagma Chatterjee as general manager, effective January 2025.
With over 16 years of experience in driving e-commerce growth strategies and managing profit and loss operations, Chatterjee is known for her expertise in online business development, brand building for e-commerce, and marketplace expansion on platforms such as Amazon and Flipkart. she has also been instrumental in implementing omnichannel strategies and optimising supply chains for operational efficiency.
Prior to joining Lifewear India, Chatterjee served as assistant general manager at Dr Batra’s Healthcare, where she led efforts to realign e-commerce strategies, reduce costs, and enhance margins. she has also held senior roles at Indo Count Industries and Alka Lifestyle, contributing to substantial sales growth and market expansion.
In her new role, Chatterjee will spearhead Lifewear India’s e-commerce strategy and operations, focusing on enhancing customer engagement, product management, and driving sales growth through data-driven decision-making and technology integration.
Her appointment is seen as a strategic move by the company to strengthen its digital presence and optimise its e-commerce capabilities in the competitive market.
Brands
UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
