MAM
Timex ramps up retail strategy in India
BANGALORE: Timex Group India (Timex) has ramped up its retail strategy in India, and more specifically in the southern region.
Timex announced the opening of the 12th Timex Factory store in Bangalore. The new Time Factory store was inaugurated by Timex Head- Retail and New Brands Angelique O’Brien. The south has been a major market for all the brands sold by Timex, revealed O’Brien.
Timex currently has 75 Timex Factory stores in 33 cities in India. The company plans to up the number of these stores in India to 100 in the next 12 months. Its products are available across 3000 points of sale including at organized retailers such as Shoppers Stop and Lifestyle. Timex plans to strengthen its retail footprint in tier II and tier III markets also.
In a bid to grow revenues by 20 per cent this fiscal to Rs 3 billion from last year’s Rs 2.5 billion, the company has plans to complete ad spends of Rs 220 million by the end of the fiscal on 31 March 2011.
In the past, the brand had been using print and outdoor media for advertising. Since the middle of last month, Timex has started advertising on television with a TVC by its creative agency JWT. It’s TVCs’ have been aired on television across genres as well as the on regional television. It also plans to launch email and SMS campaigns shortly.
It has had Australian cricket fast bowler Brett Lee as a brand ambassador in the past. During the last quarter of 2010, it had Indian cricket ace batsman Virendra Sehawag to launch its ICC Watch series (International Cricket Council).
Timex is the official timekeeper for the ICC World Cricket Championship 2011 that begins in the Indian sub-continent from 19 February.
The company has ambitious plans to launch over 400 models of watches across categories by the end of this financial year targeting the discerning Indian consumer. Last month, the brand launched 14 styles of the Tarun Tahiliani collection of ladies watches, 9 of which are a part of the bridal collection. The collection has watches in the price range of Rs.10,995 and Rs.23,995.
Timex Group has a portfolio of 11 brands spread across various segments from mid premium to luxury segment with Brands like, Timex, Opex, Guess, Gc, Marc Ecko, Nautica, TX, Salvatore Ferragamo, Versace, Versus and Valentino with selling channels in more than 100 countries. The Group has a design centre based out of Milano and a manufacturing base spread across various countries.
Mindshare handles the media buying duties for Timex.
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.
