Brands
Splash eyes revenues of Rs 150 crore; plans 21 stores by year-end
BENGALURU: The Landmark Group’s international youth oriented hi-street value fashion brand Splash is eyeing revenues of Rs 150 crore this year. The brand, closed last year with 12 stores across India and is planning to increase the count to 21 by the end of 2015.
Additionally, company sources told Indiantelevision.com that Splash was also looking at spending more than five per cent of its revenues towards ATL and BTL activities.
Splash has 200 stores globally, had revenues of Rs 90 crore last year across an average store count of eight in India.
In 2015, the brand has already launched four new stores including one in Mumbai taking the count to 16. Now, Splash has unveiled its 17th store in the country in Bengaluru’s hi-street – Commercial Street, on 23 May. Next on the cards is a store launch in Noida in the near future.
At the Bengaluru store opening, Splash also launched its new collection Love Summer.
“Splash is consistently involved in delivering high fashion season after season. We are delighted to bring out the best of the brand’s personality and sync it with our new collection – #LoveSummer – this season’s key collection, which has an easy tropical vibe to it. Consumers have received the collection very well. It is young, tropical, quirky and conversational – a true reflection of our customer. With Splash’s launch at Commercial Street, we look forward to increase our reach to the fashion enthusiasts of Bangalore,” said Splash COO Kalyan Kumar.
“Our ATL activities include bursts of radio a week either way of a new store opening or the launch of a new product line, with some print and online campaigns. We also do a number of BTL activities, like in the case of the store launch today, where we have the band ‘Peepal Tree’ performing at the store. A number of models wearing Splash attire that will along a part of Commercial Street before entering the store and walking the ramp set up for the fashion show organized by Sheetal Mehra,” Kumar added.
“In the middle east, we are present on television and across many locations. In India, presently we are located in 10 cities. Once we reach a reasonably good store count in the country, we will use television as we do in other geographies,” informed Kumar.
The average Splash store witnesses around 400 customer walk-ins daily, with an average conversion rate of 30 per cent. Some of the stores located in hi-streets and malls have a conversion rate that is as high as 38 per cent, while the laggards report rates of around 24- 26 per cent.
Splash’s online campaigns cover the usual social sites such as Facebook, Twitter, Instagram and Youtube. Mindshift along with the company manages the online creative duties for the Splash, while media buying is done by the parent group Landmark through GroupM.
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.
