Brands
Kalyan’s global jewellery sale under way till 5 Aug
MUMBAI: Kalyan Jewellers, a leading jewellery brand, will commence its much-awaited global annual sale on 27 July, 2017, across all its showrooms.
The 10-day sale period is expected to be the biggest shopping days of this calendar year, and will feature special cash discounts on jewellery purchase as well as offers to win gold and silver coins. Cash discounts are applicable for every purchase above Rs. 5,000/-. For purchases above Rs.25,000/-, customers will be eligible to win gold and silver coins through scratch and win coupons in select markets.
Kalyan Jewellers CMD TS Kalyanaraman said, “The sale allows customers to shop for their favorite jewellery while availing of a plethora of privileges and offers. Encouraged by last year’s tremendous response, we have come up with better deals and offers that will allow our customers the opportunity to win exciting gifts and save through cash discounts.”
The annual sale will run till 5 August, 2017. Popular Kalyan brands such as Tejasvi, Nimah, Mudhra, Ziah, Rang, Anokhi, Glo etc will be available as part of the sale.
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.
