MAM
Raymond selects Madison to handle its Rs 100 crore AOR biz
MUMBAI: Textile, apparel and fashion retailer Raymond‘s tag line is “the complete man.” And it was looking for the complete media agency to look after its advertising spends. And it found that it in the Sam Balsara-founded Madison Media which will now be its agency of record (AOR), following a multi-agency pitch. Madison, which bills about Rs 3,000 crore on a gross level, will be responsible for the entire media mandate, including digital and out- of-home (OOH), for all Raymond group brands.
The Raymond AOR including its branded apparel, denim, cosmetics and toiletries, engineering tools and hardware, auto components and prophylactics businesses is estimated to be worth about Rs 100 crore annually.
Raymond director – marketing Mrinmoy Mukherjee said, “Raymond requires an expert media advisor and partner. We are delighted to have Madison on board as our media partner. Their leadership status as one of the best integrated media solutions agencies in India and well-integrated service and processes will help our brands scale newer heights of success.”
Madison Media Group CEO Gautam Kiyawat added “We are delighted with this new win and are confident that we can add substantially to building the Raymond group brands.”
Madison Media has been on an account winning spree, having recently won a host of new businesses including Epic TV, Maxx Mobile, McCain Foods, Ruchi Soya, Max India‘s corporate account, Café Coffee Day, Radikal Rice and Crompton Greaves. This apart, it handles media planning and buying for blue chip clients including Airtel, Godrej, Cadbury/Kraft, ITC, General Motors, Marico, McDonald‘s TVS, Levis, SpiceJet, Domino‘s, Bharti AXA, Max Life Insurance, Asian Paints, Pidilite, Tata Salt, Acer, Crompton Greaves, Dish TV, Times Television Network, Indian Oil, Enamor Lingerie, Gowardhan Dairy, Café Coffee Day and many others.
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.
