Brands
Siddharth Suri returns to Moët Hennessy India as managing director
MUMBAI: The champagne is flowing again. Siddharth Suri has been appointed managing director of Moët Hennessy India, marking a homecoming to the LVMH-owned spirits house where he previously spent over five years. Most recently business head for away-from-home, restaurant and travel retail at Hindustan Coca-Cola Beverages, Suri brings extensive leadership credentials from across the luxury and fast-moving consumer goods sectors.
His career spans more than 20 years in sales, marketing and business development. At Diageo India, where he worked for four years until early 2024, he served as national head of strategic key accounts and country lead for Middle East, Africa and Asia-Pacific emerging markets, driving international sales from Dubai.
Suri’s earlier tenure at Moët Hennessy included roles as sales director for India travel retail and domestic markets, overseeing operations across India, Sri Lanka, Maldives, Bangladesh, Nepal and Bhutan. He also held senior positions at Pernod Ricard India, including head of region operations and head of sales operations in New Delhi, and at PepsiCo India, where he rose to general manager for market development in Mumbai and zonal sales head for Maharashtra and Goa.
A graduate of the International Management Institute with a postgraduate diploma in sales, distribution and marketing operations, Suri has built a reputation for transforming and scaling businesses across India and emerging markets.
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.
