Brands
2023 unveiled: A tapestry of triumphs, challenges, and innovation in the world of technology
Mumbai: As we bid farewell to 2023, it’s time to reflect on the dynamic landscape of the brands digital marketing and technology industry, which has faced significant challenges, and unfolded new dimensions of innovation. The past year has been a roller coaster for marketing enthusiasts, with groundbreaking achievements, persistent hurdles, and the relentless pursuit of progress shaping the narrative. Let’s delve onto our industry experts who have placed their thoughts for the industry this year and are looking forward to the future.
Yango Tech CEO & co-founder Max Avtukhov
“The e-grocery and retail market in India is undergoing unprecedented growth, fueled by increased internet penetration and evolving consumer behavior that favors online shopping. This shift, coupled with the convenience factor, has spurred the convergence of technology and consumer demands. Personalized recommendations and enhanced last-mile delivery are key outcomes, fostering a dynamic and flourishing environment. Projections indicate that the India Online Grocery Market is poised to reach USD 130 billion by 2032, exhibiting a remarkable CAGR of 37%. Despite facing challenges in logistics, quality assurance, and competitiveness, the e-grocery and retail sector in India continues to thrive, fundamentally reshaping how Indians procure their daily essentials. The trends observed in 2023 affirm this trajectory. At Yango Tech, our commitment is unwavering. We are dedicated to empowering retailers and e-commerce platforms with cutting-edge technologies, enabling them to navigate the evolving landscape of customer behavior and seize a significant share of this burgeoning market.”
Vinod Cookware director Sunil Agarwal
“Cooking is an ever-evolving art, constantly improving with new ingredients, recipes, and cookware. In 2023, we’ve embraced transformation in how we approach the culinary world. As we stride into the future, we’re also witnessing a surge in demand for eco-friendly and sustainable kitchen solutions. Recognizing this shift, our commitment to offering products that balance innovation with environmental responsibility remains unwavering. Smart kitchen technology is another arena that’s shaping the landscape. We have incorporated smart features into our designs to make cooking not just convenient but also an immersive and enjoyable experience. This year marked the introduction of our Zest Ceramica Collection, Vinod Connect, and Aluminum Die Cast Range, revolutionizing the modern Indian kitchenware industry. Apart from catering to the needs of our consumers we also ventured into the B2B sector with the launch of our Vinod Horeca Range to cater to the needs of hotels and cloud kitchens. Strategic partnerships with Sony’s Masterchef India and KBC showcase our dedication to impactful collaborations. In line with the booming global kitchenware industry, projected to reach USD 37.23 billion by 2027, we also expanded our reach with the launch of Vinod Cookware’s UK website, bringing our quality products to the UK and EU markets. As we navigate this era of change, 2023 underscores the importance of adaptability in today’s world be it at your workplaces, homes, and kitchens.”
Abzo Motors co-founder Kanchi Patel
“The EV industry has experienced substantial growth in the last few years, and 2023 has been no exception. In the first half of this year, EV sales reached 5.1 million units, on track to surpass 10 million units for the full year. Witnessing the surge in electric vehicle adoption has been an enriching experience, reaffirming the industry’s shift towards a cleaner and greener future. Several major automakers are investing in the Indian EV market, including Tata Motors, Hyundai, and Mahindra & Mahindra. In turn, the enthusiasm and acceptance from consumers have been overwhelming, highlighting the growing awareness and appetite for eco-friendly mobility options. This year has proven to be a significant milestone for us as we proudly launched our first e-bike, a testament to our commitment to sustainable and innovative transportation solutions As co-founder of Abzo Motors, navigating through the dynamic landscape of 2023 has been both challenging and rewarding, and we look forward to continuing our contribution to the evolution of the EV industry, paving the way for a more sustainable and electrifying future.”
Chimp&zInc co-founder & CEO Angad Singh Manchanda
“Marking a dynamic shift in marketing trends, 2023 has witnessed a complete transformation in the digital marketing front. With much anticipated augmented reality and social commerce to purpose-driven content, the industry has undergone a holistic revamp. Authentic storytelling has rightfully claimed the spotlight, placing a strong emphasis on forging genuine emotional connections with consumers. The fusion of personalization and technology emerged as a game-changer, reshaping our online experiences. Adding to our learning journey were new trends like Generative AI, Machine Learning, Customer Data Platforms, and Voice Search. Artificial Intelligence (AI) strategies gained substantial momentum, enhancing the intelligence behind digital experiences. Privacy rules became a prominent point of discussion showing the industry’s dedication to responsible practices. CGI trends, including Augmented and Virtual Reality, alongside the widely embraced generative AI, prominently graced the stage. Each of these trends ignited curiosity among marketing professionals, providing us with powerful tools to weave compelling stories. We’ve discovered that fostering a curious mindset, coupled with courage and a commitment to authenticity allows us to actively participate in shaping the future of digital marketing. Here’s to a year that not only pushed boundaries but also ignited creativity.”
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.
