Lesser Known Facts About Cafe Coffee Day Owner VG Siddhartha
India's largest coffee chain Cafe Coffee Day's owner VG Siddhartha body was found on Wednesday morning July 31 from the shore of the river Nethravathi, Mangalore by a group of fishermen. The Founder of CCD was missing since Monday. A letter written by him to the board members and his family was found. He mentioned that he is unable to handle pressure and is failed to create the right 'profitable business model' despite his hard work and best efforts.
He was a self-made and was a successful businessman. Below are the lesser-known facts about VG Siddhartha.
1. VG Siddhartha founded India's first-ever coffee chain. He started his career at the age of 24 as an intern in JM Financial Limited, Mumbai.
2. He initially wants to join the army. VG Siddhartha even prepared for it. He appeared for the entrance exam of the National Defense Academy but unfortunately could not make it.
3. VG Siddhartha owned Asia's single largest coffee estate. Coffee growing is his family business and his family has around 15000 acres of coffee estates in Karnataka.
4. He also created a hospitality chain that runs a seven-star resort named as Cicada and Serai.
5. In 1993, he started Amalgamated Bean Coffee Trading Company Ltd (ABCTCL) to export coffee. The company became India's second-largest exporter of coffee.
6. In 1993, VG Siddhartha laid the first brick of Cafe Coffee Day. The first CCD outlet was set up at Brigade Road, Bengaluru, Karnataka on July 11, 1996. Today, CCD is India's largest coffee chain with 1843 cafe till July 2019 across 28 states of India, 532 kiosks, 60,000 vending machines and 403 ground coffee selling outlets across 6 nations. As per reports, Cafe Coffee Day serves around 1.8 billion cups of coffee a year across six countries.
7. He provided employment to around 50000 people across India and himself created India's biggest coffee empire.
8. Siddhartha invested and funded the company Mindtree in 1999. He was one of the biggest shareholders of the company. Later he sold his stakes in a 3000 crore deal.
9. Every year, his company exports 28000 tonnes of Coffee. Another 2000 tonnes of coffee is sold locally. The company business has grown rapidly and did a business of Rs 350 million.
10. VG Siddhartha was the son in law of former Chief Minister of Karnataka SM Krishna.
CCD is now one of the most happening places in India. Sadly, VG Siddhartha who has given us Cafe Coffee Day is not with us anymore. May his soul Rest in Peace.