Truly said, Entrepreneurship is all about passion, taking risks and never giving up. India’s corporate world feels numb for the untimely demise of a visionary, a leader who gave everything to give India’s coffee a global recognition.
India’s Coffee chain Café Coffee Day chairman VG Siddhartha went missing on 29th July and soon, the news of his demise spread like wildfire. The Coffee King left a note for his employees where he mentioned that he succumbed to deep debt situation, the board of directors and administrative pressures. The incident has shaken away a lot of people’s dream who dare to think and achieve big!
Further, this numb hour also raises questions on how as a system, we failed to protect someone who has dreams, vision and is willing to make lives better of millions of people by providing jobs, touching hearts by giving memories to cherish in outlets that serve mugs of coffees all over India and many parts of the world. Well, let’s know a little about our beloved Café Coffee Day –
A little About Café Coffee Day –
Café Coffee Day, a name that doesn’t need an introduction in India. It is a popular Indian Coffee outlet and is widely called as ‘CCD’. The chain is owned by Coffee Day Global Limited, a subsidiary of Coffee Day Enterprises Limited. Moreover, The firm has 20,000 acres of estates in Chikkamangaluru which it uses to grow Arabica beans.
Coffee Day Global Limited is the largest producer of Arabica beans and also exports it to multiple countries around the world. The first CCD outlet was set up on 11th July 1996 at Brigade Road, Bengaluru, Karnataka. This soon triggered the unexplored Indian coffee culture and the firm successfully opened around 1000 stores in India by 2011. With annual revenue crossing over US$600 million, the story, journey of this Indian startup is admired across top management schools and universities in India.
The Visionary – V. G. Siddhartha Hegde
A dreamer, a leader and a humble entrepreneur who is and will always be remembered for his marvellous works, entrepreneurship skills and above all, a gentleman who always smiled and met people with utmost generosity. Mr VG Siddhartha was an Indian businessman recognized as ‘Coffee King’ for founding India’s most popular coffee outlet Café Coffee Day.
There are countless achievements, awards in the name of Mr V.G Siddhartha which is evident that he was one of the most inspirational and successful business tycoons in India. He served as Chairman and managing director of CCD and was also part of the board of directors of Mindtree Limited – a multinational IT and outsourcing company in Bangalore. Along with this, he also contributed to GTV, Liquid Krystal, Way2wealth Brokers, Coffee Day Natural Resources, and Way2wealth Securities. He was proactive in inspiring people by his businesses plans, his thoughts; business ideas which have helped him achieve the award of “Entrepreneur of the Year” by The Economic Times and the “NextGen Entrepreneur” by Forbes India in 2011.
The Miss Happening –
India, a youth majority country wakes up each day keeping their heads high looking forward to thinking big, doing big and growing big. Suddenly, this morning the news of the unnatural demise of one of the biggest business tycoons floats and leaves the dreams of young aspirants blurred and raise questions marks on a person’s success.
Mr VG Siddhartha laid his life down citing reasons of the pressure of personal debts, pressure from one of the private equity partners to buy back shares along with harassment from previous DG income tax where he was blocked from selling his MindTree shares. “This was very unfair and has led to a serious liquidity crunch,” he wrote in the note recovered in the investigation. India may forget this day but the question will remain why an entrepreneur like VG Siddhartha lost his battle to the unfair world.