The story started from when VG Siddhartha, the Founder of the country's largest coffee cafe chain, Cafe Coffee Day (CCD), was once told that your business will not run. After having opinions from many, Siddharth has withdrawn his plan for a few days, but today Coffee Cafe De India is included in the count of popular coffee chains.
VG Siddhartha has gone missing from Mangaluru. According to the reports, he was last seen near the river Netravati in Mangaluru. The police officer said that on the request of the family, the search operation has been started to investigate the businessman. Dog squads and boats are also being taken for this research.
According to the police, Siddharth asked his driver to throw him on the Netravati bridge of Mangaluru because he wanted to walk.
Let’s talk about his achievement:
The CCD started in 1996. In fact, in 1995, after the global coffee culture, Karnataka-based Vij Siddharth planned to set up a coffee shop. He had a plan to open a cafe in the mind; he asked many for the opinion. People said that when the coffee can be getting in 5 rupees then why would they buy the coffee at Rs. 25? People gave the opinion of not starting the coffee shop business.
The Idea he got during a conversation with the owner of the German coffee chain, Shibbo.
But after listening to the people, he dropped the idea for a few days. About 8-9 months after, Siddharth saw people enjoying the internet with a web site in a Singapore shop. After this, Siddharth decided that he would open such cafes, where the facilities of the people will be taken care of. And after that, he got involved in his work.
In the year 2015, coffee de Enterprises introduced its IPO. From the IPO, the company levied and extended its loan. Then the total valuation of the company was about Rs 5,400 crore. There are 1750 outlets at present.
The company has 1,750 cafes today. Apart from India, there are also company outlets in Austria, Karachi, Dubai and the Czech Republic. These employ more than 5000 people. CCD is the market leader of Organized Café Segment. Direct competition is with Tata Group's Starbucks as well as Barista and Costa Coffee. Starbucks has 146 stores in India. However, the speed of the expansion of the CCD has decreased over the past two years and the debt has also increased.
Siddhartha's family is connected to a coffee plantation for 130 years. His family has more than 10,000 acres of coffee gardens at Chikmagalur. Since 1993, Siddharth has made a deal in the family business and his company started exporting the coffee. Within two years his company became the largest coffee exporter in the country.
Cafe Coffee Day uses coffee beans grown on his farm. This helps the company in reducing cost while maintaining quality. The company also holds a coffee shop in addition to coffee and other products. For this, the company outsource the product to a large brand like Amul.