Brands
Allen Solly targets to become Rs 1,000 crore brand by FY16
KOLKATA: Allen Solly, part of Aditya Birla Group’s Madura Fashions, aims to be a Rs 1,000 crore brand by the end of next fiscal FY2015-16.
“In FY15, we are looking at Rs 800 crore topline from Rs 550 crore in the previous year,” Allen Solly COO Sooraj Bhat, said in Kolkata.
Allen Solly ranks third in terms of revenue among the seven to eight brands that the company owns in fashion and lifestyle segment, he further said, when asked about the position of the brand Allen Solly in the whole kitty.
Bhat said the new sub-brand Solly Sport had partnered with Wimbledon for exclusive marketing casual-wear line. He added that in FY15 the brand is expected to generate Rs 40 crore revenue and over the next three years it will expand to touch Rs 200 crore.
The company said that it will not resort to discounts and bargains to push volumes, adding that online accounts for just four per cent of topline.
The company has 207 exclusive stores and proposes to add 50-odd stores in the next year.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
