Brands
Myntra accelerates digital transformation journey with Microsoft Cloud
MUMBAI: Myntra, one of the leading destinations for fashion and lifestyle, has partnered with Microsoft to accelerate its digital transformation and offer an unmatched experience to its customers. Leveraging Microsoft Azure, Myntra is focused on innovation, speed, and agility to strengthen its leadership position even further.
“As we accelerate our business and grow our value, the ability to scale our technology in a secure environment to accommodate this growth is critical,” said Myntra CEO Amar Nagaram. “The Microsoft Azure platform provides our teams the ability to deliver innovative and personalized capabilities for our customers with speed supported by a strong depth of technology expertise from the Microsoft team.”
Myntra has worked closely with Microsoft to migrate its platform – from supply chain management to inventory to site capabilities – to Azure for trusted, always-on, hyper-scale and cost-effective computing. These critical capabilities support its entire portfolio of 7,00,000 styles from more than 3,000 international and domestic brands available on its store. Myntra is now in a position to offer a seamless and personalised experience for customers as they shop across its portal both from their personal computers and mobile phones.
The elasticity of Azure is helping Myntra scale rapidly for big spikes that occur routinely during festive seasons. Since the deployment of Azure, Myntra, has recorded a 50 per cent rise in orders in the latest edition of its biennial End of Reason Sale.
Microsoft India president Anant Maheshwari said, “We are thrilled to partner with Myntra to integrate Azure cloud and analytics capabilities in India’s largest fashion e-tailer. The solutions we build together will empower Myntra to be the leading fashion e-commerce experience from India.”
Microsoft Azure supports the company’s engineering and product management teams rapidly develop, deploy, and test new capabilities. By building and centralising its data platform on Azure, Myntra is applying advanced analytics and machine learning to gain a comprehensive understanding of customers and deliver highly personalized products, marketing and service for them. The company is using Microsoft Power BI to empower its employees to visualise and act on real time feedback to create the best customer experience and drive the business.
Microsoft is relentlessly working towards making technology accessible and productive for all. This partnership with Myntra is a tremendous opportunity to bring out a transformation in the Indian ecommerce space and to co-create and deliver industry solutions on Azure.
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.
