MAM
Citizen launches Kareena Kapoor inspired collection; to expand retail presence
MUMBAI: Citizen has roped in Bollywood actress Kareena Kapoor for the launch of Kareena Diamond Collection and Kareena Fashion Collection of watches.
Citizen also plans to expand its retail presence in India, increasing the number of retail outlets to 100 from 37 and have a presence in more than 500 MBO’s by end of this year.
Speaking on the company’s plans Citizen Watches (I) Pvt. Ltd managing director Hideaki Nakazaki said, “We currently have 37 First Citizens (Citizen’s Exclusive Showrooms) and more than 300 Citizen Corners (Multi-Brand outlets) across the country. As a part of our retail expansion, we plan to extend the number of First Citizen’s to 100 by end of 2008 and to have presence in more than 500 MBO’s by end of this year. Our next immediate First Citizen launches will in cities like Varanasi, Hyderabad, Agra and Lucknow amongst many others.”
Forever Diamonds is an exclusive diamond collection with a stylish and ethnic look and priced in the range of Rs. 7290 – Rs. 24,680. While The Kareena Fashion Collection is a range of chic and futuristic watches for the teenage girl moving into womanhood and will be available in various designs and styles with gold finish, bracelet styles, metallic, solid coloured and lush leather straps. This collection will be priced between Rs. 4,690 to Rs, 13,500.
Citizen entered India in 1998 with the Eco – Drive light powered watches and since then, it has grown from unit sales of 100,000 and sales value of Rs. 220 million in 2003-2004, to an estimated 240,000 and Rs. 600 million in 2006-2007, a 172 per cent value growth in the last three years. They plan to invest heavily to ensure an annual growth rate of 30 – 40 per cent, in the forthcoming years.
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.
