Brands
CavinKare serves nation with sanitizers under CHIK, Nyle and Raaga professional brands
MUMBAI: CavinKare’s CK Ranganathan is set to make his father’s vision of ‘Whatever the rich man can enjoy, the common man should be able to afford’ a reality again. At a time of extreme anxiety and duress in the country due to COVID 19 (coronavirus), the company has responded with the most needed product – quality hand sanitizer with easy accessibility and affordability to ensure safety of everyone in the county.
“This is not merely a product launch, but service that we are launching for the safety of every citizen across urban and rural areas of our country,” said CavinKare Pvt Ltd chairman and MD CK Ranganathan.
With an aim to serve people across the country, CavinKare has introduced hand sanitizer under its personal care brands – CHIK, Nyle – and professional brand – Raaga. CHIK presents hand sanitizer also in 2 ML sachet starting at Rs 1 which can be used atleast twice making it easily affordable for everyone and accessible due to its nationwide Kirana store presence, while Nyle with its unique formulation will, initially, cater to its segment with the 5 litre pack
Ranganathan added, “Considering most people don’t have access to quality hand sanitizers during this time, it is our responsibility to make the essential product accessible and affordable to every individual with utmost quality. The concept of launching the sanitizer in a sachet as well and making them available in a typical FMCG Kirana outlet is an ideal step to ensure safety of the masses at this crucial time.”
“As a socially responsible organisation, we ensure that we play our role in a more responsible way and contribute our part towards the safety of people residing across every nook and corner of the country. While it generally takes 6 to 18 months for developing a new product, it is because of our R&D team, who had already researched about sanitizer and kept the formulation ready, we were able to make this quality sanitizer available in the market in just two weeks time from its initiation,” concluded Ranganathan.
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.
