MAM
Opptra names Afshan Banu as CEO – fashion and beauty
MUMBAI: Opptra, the AI-powered omnichannel platform helping consumer brands scale into Asia, has appointed Afshan Banu as chief executive officer – fashion and beauty, bringing on board a heavyweight with over three decades of retail and digital expertise.
Banu, whose career spans iconic names like Nike, Victoria’s Secret, GAP, Triumph and Lazada, will lead Opptra’s expansion strategy for fashion and beauty verticals, turbocharging digital transformation and franchise-led growth for international labels eyeing Asian markets.
At Nike, she served as senior director for e-commerce across Southeast Asia and India, playing a crucial role in building Nike.com, the Nike App, SNKRS, and its marketplace muscle. Her previous stints at Lazada and Victoria’s Secret saw her drive brand development, strategic partnerships, and regional profitability in high-growth segments.
Opptra’s co-founder called her appointment “a shot of adrenaline” for its global ambitions. With deep expertise across brick-and-mortar, e-commerce and digital ecosystems, Banu’s mandate is clear — bring the world’s best brands to Asia, faster and smarter.
Commenting on her appointment at Opptra CEO – fashion and Beauty, Afshan Banu said, “I am excited to join Opptra at a time when the omnichannel experience is becoming more important. As global commerce continues to grow, Opptra’s digital-first technology and strong product solutions are well-positioned to provide the best experiences, both online and offline for consumers. We aim to help brands overcome infrastructure, regulatory, and cultural challenges by creating the world’s most innovative international expansion franchise model for brands.”
As beauty and fashion brands battle for scale in a fragmented retail landscape, Opptra’s AI-led omnichannel playbook, now helmed by a leader with proven mettle — could be the edge they need.
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.
