Going with family and friends on a coffee treat, you must have heard the name of CCD, i.e. Café Coffee Day!
Malavika Hegde left every stone unturned to save her company, CCD, from bankruptcy. The company, which was buried under the debt of 7000 crores in 2019, has recovered quickly.
Rise of the largest serving coffee venture CCD
VG Siddhartha started CCD in the year 1996 to boost the growing coffee culture in India. When he introduced the company, many people discouraged him that the idea of brewing coffee would not work.
But he did not lose hope, and later CCD established itself as the largest serving brand in the country.
The Collapse of Profitable Business Model
Amidst many ups and downs, the company went into debt of 7000 crores. Somebody has rightly said that success and failure go hand in hand.
In 2019, the news came to light that the founder and CEO of CCD, VG Siddhartha, committed suicide.
From his last letter, it was assumed that he had taken this drastic step due to a debt crisis. Before the collapse of the company, his willpower collapsed.
The shock of husband’s death and his company sunk in crores of debt had left Malavika completely shattered. How difficult must it have been to handle herself and the company!
About Malavika Hegde
Malavika Hegde is the daughter of former Karnataka Chief Minister SM Krishna. She was born in 1969 in Bengaluru, where she completed her schooling and pursued engineering from Bengaluru University.
She tied the knot with VG Siddhartha in 1991. After marriage, she has served as the non-executive member of Coffee Day Enterprises Ltd (CDEL).
Malavika Hegde took the reins of the Sinking Company
According to the company’s statement, In March 2021, CCD had a debt of 1779 crores. The debt includes a long term loan of 1263 crores and a short term loan of 516 crores.
Under the worst circumstances, Malavika Hedge took over as Chief Executive Officer (CEO) of CDEL. She was fully aware of the conditions of thousands of employees working in the company. But she was determined to fulfill her husband’s dream of making CCD a successful business model.
In a letter to her employees, Malavika promised to preserve the legacy, and she also ensured to work together to take CCD to unbelievable heights.
Within two years, she brought CCD back in the race with her hard work and dedication. She did what she said.
Current Scenario and Future Plans of Cafe Coffee Day
According to the report,
CCD is currently the largest coffee serving brand with 36,326 vending machines. There are 572 cafes in 165 cities, including Delhi, Mumbai, and Chandigarh. At the same time, the company has 333 kiosks where people can pick up ready-to-take orders.
The financial condition of the coffee day has improved a lot. CCD is again making a huge impact in the Industry. Malavika aims to make it a multi-billion dollar company by paying off every penny and taking Café Coffee Day to every nook and corner of the country.
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1 Comment
Wonderful articulated!!