Cafe coffee day has been news recently after the demise of its chairman V. G. Siddhartha. But this big Giant, a great entrepreneur dream, company and memories with CCD due to Airport waiting
. So, lets start from the start and know all about CCD in just 13 facts. Lets get rolling:
1.V.G. Siddhartha Education?
V.G. Siddhartha was born in 1959,Chikmagalur. His family was already in coffee plantation for 140 years making it obvious that he earned master’s degree in economics from St. Aloysius College and Mangalore University, Karnataka.
2.V.G Siddhartha Earlier work Experience
He worked with JM Financial Limited for almost 2 years after which he borrowed some money from his father and became full-time proprietary investor in the stock market and owner of 10,000 acres of coffee farms.
3.Coffee Exports the first big step
In 1993 that is some eight years later and VG Siddhartha being around 31 years old founded Amalgamated Bean Coffee Trading Company Ltd (ABCTCL) that exported coffee and by 1995 was the second largest exporter from India.
4. First CCD store
So, in 1996 when VG Siddhartha was 34 years old, he founded the first CCD store on Bangalore’s crowded Brigade Road, where coffee and an hour of Internet surfing cost Rs 100 and was an immediate success!!!
5.CCD Received 10 billion dollar investment
In 2010, a consortium(an association of several companies) led by Kohlberg Kravis Roberts invested ₹10 billion (US$140 million) in Coffee Day Resorts, owned by the company that by 2011 there were 1000 CCD outlets nationwide.
6.CCD Logo Story
In 2011, the logo was changed to which the company stated was to showcase the chain as a place to talk, and that logo is being continued till now!
7. Current CCD outlets
As of 2018, the company had 1,722 café outlets in over 200 cities of India. Cafe Coffee Day has also expanded outside India with its outlets in Austria (Vienna), Czech Republic, Egypt and Nepal
8.CCD vs starbucks
Starbucks and CCD both are known for overpriced coffees providing the best possible elite environment. But starbucks in India is under a joint venture with Tate Global Beverages started in 2012 and has 138 stores.So, comparing a foreign company that has been brought up in India to an entire Indian company that has hot huge foreign investment! But never the less, both of them serves delicious environment over a coffee
9. Other ventures owned by VG Siddhartha
VG Siddhartha held board seats in GTV, Mindtree, Liqwid Krystal, Way2Wealth and Ittiam.Also in May 2019, Engineering and construction major Larsen and Toubro (L&T) acquired a 20 per cent stake in Mindtree from Cafe Coffee Day founder VG Siddhartha, taking a leap towards acquiring a majority stake in Bengaluru-based IT services firm
10.CCD menu highlights
Espress- Rs 90, Frappe-Rs 137, Egg Wrap-Rs 70, Big Crunch Veg Classic Burger-Rs 95!
11.Why Coffee at CCD is costly?
CCD is not just serving coffee, it is serving ambience! All the important meeting, dates, get together, gossips happen at CCD!
12. The Controversy
VG Siddhartha was accused of tax evasion in 2017. Income tax raids were conducted at over 20 locations in Mumbai, Bengaluru, Chennai and Chikmagalur by senior officers of Income Tax Department of Karnataka and Goa regions.The Income Tax Department raids on Cafe Coffee Day (CCD) retail chain found Rs 650 crore concealed income from the documents seized
13.VG Siddhartha Death
On July 2019, VG Siddhartha was declared dead after a suicide note stating “To our Board of directors and Coffee Day family,After 37 years, with strong commitment to hard work, having directly created 30,000 jobs in technology company where I have been a large shareholder since its founding. I have failed to create the right profitable business model despite my best efforts.As seen below our assets outweigh our liabilities and can help repay everybody.”
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