Brands
What India shopped from D2C brands in 2023
Mumbai: Beauty and personal care (BPC) products in the burgeoning D2C segment emerged as the largest selling category in India after about 3.7 lakh packs of Vitamin C Serum were sold during 2023, according to GoKwik’s network data report.
The highest repeat rate was also observed in BPC at 30 per cent, followed by fashion at 28 per cent. The electronics category saw one of the lowest repeat rates, at 14 per cent.
“D2C brands are increasingly becoming shopper favourites. Shoppers are consistently finding value in shopping from these brands. As a result, the repeat order rate of the most shopped categories has also seen a significant increase. With exclusive deals, loyalty points and offers, deepening markets and evolving trust in these brands, we can expect further growth in this industry.” Said GoKwik co-founder and CEO Chirag Taneja.
He further added that 2023 marked another significant year for D2C brands and contributed to their growth. From obtaining funding to omnichannel expansion or becoming listed on the stock exchange, D2C brands have proved they are here to stay and grow.
While shoppers continued to shop various products from the D2C brands, one significant product emerged as the winner, Vitamin C Serum. With over 3.7 L orders, this product clocked the most orders on GoKwik’s network of D2C brands, and emerged as a phenomenon, cementing its position in the skincare routine of Indian shoppers.
With 3.4 L orders, sunglasses came in the second spot as one of the shoppers’ favourites on the GoKwik network while Skincare Combos ranked third with 2.1 L orders.
Online premium memberships also seemed to be a hot favourite amongst D2C shoppers last year which could also be an indication of growing trust and loyalty for particular brands. Gift cards too had a huge demand from shoppers, possibly becoming a popular gifting option during the festive season.
“Shoppers buying directly from a D2C brand reflects growing trust in the products available on the brand website with no risk of counterfeits, etc especially when it comes to beauty and cosmetics,” Chirag added.
The top three products in terms of the highest orders in this category were Vitamin C Serum, closely followed by Night Cream and Hair Growth Serum.
Fashion stood tall clocking the second-highest number of orders. This could be indicative of the individuality in the space of fashion which is leading to an increase in the number of brands in subcategories that align with shopper needs. Here, the highest-selling products were Men’s T-shirts, both in black and white and black tops for women.
Healthcare products secured the third position in order volume, showcasing how rapidly Indian shoppers are becoming health-conscious and trusting D2C brands to cater to their needs. The top-selling products in this category were Immunity Kits and Ayurvedic Oil.
The highest-selling items in the electronics category, as seen on the GoKwik network, were Wireless earphones followed by Smartwatches.
Furthermore, products related to hair-related concerns have spiked, especially in metro cities (Delhi, Mumbai, Bangalore, Kolkata) as Hair Serum and Hair Gummies were the most ordered products there.
Interestingly, one person from Gurgaon ordered SPF 50+ sunscreen 942 times last year. Onion shampoo remained the top choice of another shopper in Delhi who bought the product 514 times. Even in the cold paradise of Srinagar, De-Tan cream was ordered 44 times. In Bangalore however, scalp massager became a shopper’s favourite, as a customer ordered it over 80 times in a year.
GoKwik houses over 1200 eCommerce brands in its network including Lenskart, Neemans, Man Matters, Purplle, Shoppers Stop, etc, ranging from fashion, beauty, health and nutrition, electronics and other key categories of the online shopping space.
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.
