MAM
Swarovski elevates Francis Belin to sr VP consumer goods business APAC
MUMBAI: In a recent development, Swarovski has promoted Francis Belin to take a bigger role in the company.
Belin who has been in charge of Swarovski’s consumer goods business for Greater China since August 2011, has now been elevated to senior vice president consumer goods business APAC.
Based in Hong Kong, Belin is responsible for the strategic direction and the development of the company in China, Taiwan, Hong Kong and Macao.
Starting from April 2014, he has extended his scope – beyond Greater China – to take over Swarovski’s consumer good business for Asia Pacific, including key markets like Japan, Korea, Australia and India. Belin is also a member of the Board of Advisors of Kid’s Earth Fund (Japan) and since April 2013, has been appointed to the advisory committee of the Swarovski Foundation.
He joined Swarovski in January 2008 as Managing Director for Japan. Under Belin’s leadership, Japan has achieved to be the second fastest growing market in the world after Mainland China, thanks to major upgrades in brand positioning, brand awareness and distribution network. Prior to joining Swarovski, Belin started his career in Management consulting at McKinsey&Co in Europe and Asia, and worked as Managing Director of Jaeger-LeCoultre (Richemont) in Japan.
Originally from France, Belin holds a degree in Management from the ESSEC Business School in France and a Diploma Kaufmann from the University of Mannheim in Germany, majoring in Business administration and Psychology.
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.
