Back
Jaswanth Jegan
Founder-Hexpertify.c...ย โขย 1y
"The Founder's Suicide" Bankruptcy to Billions #1 Cafe Coffee Day's Turnaround Story Cafe coffee day was started by VG.Siddhartha in 1996 in Banglore.It quickly extended to more than 1000 shops in the India by 2011. But CCD had accumulated a total debt of around 7k crore in 2019 to repay Siddhartha sold his 20% stake in the Mindtree to L&T for 3.2k crore. Even with the sale of his own stakes turned out to be really tough because the working capital requirements could not be met.VG Siddhartha Came under the radar of IT Department, They discovered around 650 crore of concealed income. Siddhartha was found missing in July 29 2019 two days later his body was found in the Nethravathi river backwaters. VG Siddhartha left a letter expressIng his unhappiness over not creating a profitable business,he also alleged that a senior income tax officer harassed him. Then his wife Malavika Hegde took over and disposed non essential assets,reduced debt and the company was up and Running.
Replies (16)
More like this
Recommendations from Medial
Somen Das
Senior developer | b...ย โขย 1y
Women power: Malavika Hegde took over as the CEO of Cafe Coffee Day (CCD) after her husband, founder VG Siddhartha, tragically passed away in 2019, leaving the company with a huge debt of Rs 7,000 crore. Focused on saving the company and preserving
See More
Siddharth K Nair
Thatmoonemojiguy ๐ย โขย 3m
โ๏ธ How Indiaโs Biggest Cafรฉ Empire Brewed Success and Burned Out Before Starbucks or Blue Tokai, there was one name that defined coffee in India: Cafรฉ Coffee Day (CCD). Launched in 1996 by V.G. Siddhartha, CCD wasnโt just a cafรฉ it was a movement.
See More
Saathvi SN
Attended Mangalore U...ย โขย 1y
Cafe coffee day - India's beloved coffee brand! Well everyone knows about one of the most precious and renowned company thatz CCD. The story is much more than just a tale but a commercial success. It is story of resilience, Willpower, redemption and
See More
Sanskar
Keen Learner and Exp...ย โขย 1y
Blue Tokai Coffee Roasters is an Indian specialty coffee company that was founded in 2013 by Matt Chitharanjan and his wife Namrata Asthana after they struggling to find quality coffee, they realized that the cafes were using inferior coffee beans an
See More
Nandishwar
Founder @StudyFlames...ย โขย 8m
โ Why Did Indiaโs Largest Coffee Chain Struggle? Cafe Coffee Day (CCD), once Indiaโs largest coffee chain, faced major setbacks: 1๏ธโฃ Aggressive expansion funded by unsustainable debt. 2๏ธโฃ Rising competition from global giants like Starbucks. 3๏ธโฃ
See More
Havish Gupta
Figuring Outย โขย 6m
How Third Wave Coffee Became Indiaโs Leading Coffee Chain Despite India being among the top 10 producers of coffee, most of the coffee was exported instead of being consumed in India. This fact bothered Sushant Goel, Ayush Bathwal, and Anirudh Shar
See More
Sanskar
Keen Learner and Exp...ย โขย 5m
Anurag Chabbra failed 20 times and didn't even go to college before hitting his successful venture which now makes more than โน150 crores. Anurag faced multiple rejection at job interviews because he didn't have a college degree. Thus in frustration
See More
Download the medial app to read full posts, comements and news.