How CCD was started
Cafe Coffee Day was started in July 1996 from Brigade Road in Bangalore. The first coffee shop was opened with an internet cafe. Internet was making inroads in the country in those days. The fun of coffee with the Internet was a special experience for the new age. As the commercial Internet began to spread its footing, CCD decided to stick with its core business, Coffee, and do business as a nationwide coffee cafe. After opening a few cafes in the first 5 years, CCD has today become the largest coffee retail chain in the country. At present, CCD has a total of 1,758 cafes in 247 cities of the country.
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Cafe Coffee Day founder VG. Siddhartha belongs to a family that is associated with a 150-year-old culture of coffee cultivation. His family had coffee plantations, in which expensive coffee was grown. This proved to be helpful for their business, which later turned into a successful business for the family. In the 90s, coffee was mainly consumed in South India and it was accessible only to five star hotels. Siddhartha wanted to take coffee to the common people. Siddharth’s dream and the family’s deep understanding of the coffee business was the reason behind the start of Cafe Coffee Day.
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Siddharth’s father gave him 5 lakh rupees to do coffee business. At the same time, he had also said that if he failed in this business then he would have to return to his family business. Let us tell you that today the net worth of CCD company is more than Rs 4,067 crore.
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Siddharth’s stars are hot these days
Mindtree’s largest shareholder VG. Siddhartha, who is also the founder of Cafe Coffee Day. He had invested in Mindtree in the year itself, which gradually increased to 21 per cent. According to the report of Mint, these days the stars of Siddharth are running in the sky. He is owed Rs 300 crore to the Income Tax Department and his investment company Sivan Securities is in debt. This is the reason why Siddhartha was preparing to sell his stake in Mindtree to overcome the difficulties.
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