Brands
Online fashion brand Yepme expands into Europe
MUMBAI: Yepme announced its plan to expand into Europe. The company has launched uk.yepme.com to service customers across UK. The brand footprint is also being extended beyond its own webstore across Europe through presence in a large online marketplaces in the UK, Germany, Italy, France and Spain.
More than 2000 products have gone live. The Campaigns have been shot in the fashion capitals of world namely London, Paris and Los Angeles. The fashion showcased is European fashion. The core proposition is about being “Unreasonably Fashionable.” The core proposition is driven by fast fashion supply chain of brand Yepme that delivers Mind to Market cycle of 30 days.
Europe offers a huge opportunity for brand Yepme as countries like UK have online sales as percentage to Retail market of close to 17%. This is even higher than US, where online market contribution to total retail market is around 14%. As pe remarketer.com, in 2016, UK online market size was $ 110 Billion. This is way bigger than Indian online market size of $ 24 Billion in 2016. The Yepme European expansion Plan is led by its 100% subsidiary in the UK.
Yepme will build on its core strengths of in house technology to deliver single view of the customer and resources, low cost fast fashion supply chain, experience of building high brand salience in Social media (6 Million plus fans on Facebook). The brand Yepme uses variety of online tools to get insight into latest trends on Fashion across Europe. The teams in India and UK will work closely to deliver on the core proposition of being “Unreasonably Fashionable” at value pricing.
Co-Founders Vivek Gaur and Sandeep Sharma have personally worked out nitty gritty of the launch. Vivek Gaur, while speaking on the subject, echoed that it’s a great leap for an Indian brand to make an entry into highly competitive fashion market in Europe.
As per Sandeep Sharma, expansion into Europe was a logical next step after achieving profitability in India. In his view, the three robust pillars of Technology, Fast Fashion Supply Chain and Brand will help Yepme gain market share in a very competitive European Fashion Market.
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.
