MAM
Adidas to be official partner of Beijing 2008 Olympic games
MUMBAI: The Beijing Olympic organisers and Adidas-Salomon AG today announced that adidas will be the official sportswear partner of the Beijing 2008 Olympic Games.
The sports major had recently also extended its long term partnership with FIFA for the FIFA World Cup in 2010 and 2014.
Under the agreement with the Beijing Olympics, Adidas will supply sportswear for all staff, volunteers and technical officials of the 2008 Olympic Games and the Beijing 2008 Paralympic Games. Adidas will also outfit the Chinese Olympic teams for the Turin 2006 Olympic Winter Games and the Beijing 2008 Olympic Games.
“Adidas is proud and honored to play a major part when the world’s biggest and most exciting sports celebration event will be held for the first time in the world’s biggest country, China. In addition, we are excited to support the Chinese Olympic team in its mission to deliver outstanding Olympic performance on home soil,” said adidas-Salomon CEO Herbert Hainer.
“Adidas has been a part of the Olympic Movement ever since our founder Adi Dassler produced his first pair of sprint spikes for an Olympic athlete back in 1928. The Beijing 2008 Olympic Games will once again be worldwide visible proof of our dedication to athletes, products, innovation and leadership. At the same time, the Beijing 2008 Olympic Games provide us with a unique platform to build the Adidas brand image and business in China and the whole of Asia,” he added.
“As one of the major important sponsors, Adidas has always paid enthusiastic attention and rendered active support to the development of China’s sports,” Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG) executive vice president Wang Wei said at the signing ceremony.
“In the context of the rapid growth and continuous expansion of the Chinese sports market, we believe Adidas, by sponsoring the Beijing 2008 Olympic Games, will make greater contributions to the Olympic Movement and to China’ s sports as well as create larger room for its own development and a better prospect. We are looking forward to the friendly and reciprocal co-operation with Adidas,” Wang added.
The composite logo of Adidas and the Beijing 2008 Olympic Games was also unveiled.
Chinese gold medalists from the Athens Olympic Games, including Feng Kun and Xian Dongmei, also attended the signing ceremony and expressed their confidence in winning gold again in 2008. “All of us in China put our hearts in the Beijing 2008 Olympic Games. We’ll be successful!” said Xian Dongmei, Gold Medalist of Women’s 52 kg Class Judo at the Athens Olympic Games.
Adidas was already an Official Supporter of the Athens 2004 Olympic Games, and supplied more than 1.4 million products to federations, volunteers, officials and others. By outfitting 22 National Olympic Committees, Adidas secured its position as the true Olympic brand in Athens and was the brand of choice of nearly 50 per cent of the athletes at the 2004 Olympic Games.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â 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.
