The emergence of Cafe Coffee Day is regarded as one of India's finest home-grown success stories. Entrepreneur VG Siddhartha's venture, which he founded and launched, revolutionised the country's coffee culture and quick hangout spots. However, the company went deeply in debt, which resulted in Siddhartha dying by suicide. According to sources, the corporation had a debt of Rs 7200 crore. When his wife Malavika Hegde took over as CEO of CCD, the company was practically written off the commercial map. She worked relentlessly to ensure the success of the business that her late husband had established.
Malavika, the daughter of former Karnataka Chief Minister SM Krishna, worked for the company for many years as a non-board member and quickly learned the business model.
Malavika promised to decrease the debt to a reasonable level in a letter to the company's 25,000 employees. Despite the company's rising debt, Malavika never raised the price of the coffees that were sold. She removed hundreds of coffee vending machines that had been put at various IT parks and firms, in addition to shuttering many locations that were not profitable. She was also effective in acquiring new investors, which allowed her to increase the company's capital. The debt was reduced to Rs 3100 crore by the end of March 2020, and then to Rs 1731 crore by the end of March 2021. Even during the pandemic, she was praised for her efficiency in running the shops. Café Coffee Day now includes over 572 locations across the United States. Her 20,000-acre coffee farm produces high-quality coffee beans that are in high demand around the world. In addition, there are around 36,000 coffee vending machines located in various organisations and businesses.
Malavika's ambition is to turn CCD into a multibillion-dollar corporation free of debt and expand coffee shops to every corner of the country, following in the footsteps of her late husband. Despite the fact that many feared the company would never recover, Malavika rose from the ashes like a phoenix.
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