Café Coffee Day Explained

Cafe Coffee Day
Trade Name:Café Coffee Day
Type:Subsidiary of Coffee Day Enterprises
Traded As:

(parent company)
Industry:Coffeehouse
Hq Location:Coffee Day Square, Vittal Mallya Road
Hq Location City:Bengaluru, Karnataka
Hq Location Country:India[1]
Num Locations:550[2]
Num Locations Year:2021
Area Served:Worldwide
Founder:V. G. Siddhartha
Key People:[3]
Revenue: (2021)[4]
Operating Income: (2021)
Net Income: (2021)
Assets: (2021)
Equity: (2021)
Num Employees:20,135
Parent:Coffee Day Enterprises

Café Coffee Day (CCD) is an Indian multinational chain of coffeehouses headquartered in Bengaluru, Karnataka. It is a subsidiary of Coffee Day Enterprises Limited. Internationally, CCDs are present in Austria, Czech Republic, Malaysia, Nepal and Egypt.

History

Café Coffee Day Global Limited Company is a Chikkamagaluru-based business which grows coffee in its own estates of 20,000 acres.[5] It is the largest producer of arabica beans in Asia, exporting to various countries including U.S., Europe, and Japan.[6]

V. G. Siddhartha started the café chain in 1996 when he incorporated Coffee Day Global, which is the parent of the Coffee Day chain.[7] The first CCD outlet was set up on July 11, 1996, at Brigade Road, Bangalore, Karnataka. It rapidly expanded to other cities in India, with more than 1,000 cafés open across the nation by 2011.

In 2010, it was announced that a consortium led by Kohlberg Kravis Roberts would invest in Coffee Day Resorts, owned by the company.[8] The same year, the logo was changed to the current logo, which the company stated was to showcase the chain as a place to talk.[9] This was done with major changes in the layout of the stores, including the addition of lounges and a total revamp of the interiors.[10]

The company is vertically integrated as per the strategy to cut costs: from owning the plantations[5] to growing the coffee,[5] making the coffee machines[11] and making the furniture for the outlets.[5]

On 29 July 2019, Siddhartha went missing, and his body was found in the Nethravathi river backwaters two days later. A letter, assumed to be written by Siddhartha addressing the board of directors and staff, was made public in which he takes responsibility for not creating a profitable business model.[12]

In September 2019, the company appointed auditing firm Ernst and Young to scrutinize their books of accounts. They also indicated the auditor will also look into circumstances of the last letter written by the founder and the points he made in it.[13]

In March 2020, Coffee Day Enterprises Limited announced that it has reached an agreement to sell Global Village Technology Park, a 90-acre tech park on the outskirts of Bengaluru, for a total consideration of ₹2,700 crore for repaying the debt of Cafe Coffee Day's associate firms and their promoters.[14] In 2023, IndusInd Bank filed a bankruptcy petition against Cafe Coffee Day.[15]

Outlets

As of June 2021, the company had 550 café outlets in different cities of India.

Subsidiaries

In June 2010, CCD acquired Café Emporio, a café chain from the Czech Republic. At that time, Café Emporio had 11 cafés in the Czech Republic.[16]

Café Coffee Day's divisions include:

See also

External links

Notes and References

  1. Web site: Coffeeday Group – Contact. www.coffeeday.com. 30 March 2020. 23 May 2016. https://web.archive.org/web/20160523231247/http://www.coffeeday.com/contact.html. dead.
  2. Web site: Coffee Day Quarterly Report Q1 2022 . 18 August 2021 .
  3. Web site: A year after VG Siddhartha's death, wife Malavika Hegde takes charge of Coffee Day as new CEO . . 8 December 2020 . 8 December 2020.
  4. Web site: Coffee Day Annual Report 2019 . https://web.archive.org/web/20211006203121/https://coffeeday.com/PDF/CoffeeDayAR2018-19Final_compressed.pdf . dead . 6 October 2021 . 30 March 2020 .
  5. Web site: Forbes India Magazine – V.G. Siddhartha is Branching Out. 9 July 2001. https://web.archive.org/web/20111008092739/http://business.in.com/article/big-bet/vg-siddhartha-is-branching-out/26282/0. 8 October 2011. dead.
  6. News: Full of beans . 3 April 2014 . The Telegraph . Calcutta . Jul 25, 2014 . https://web.archive.org/web/20140729173913/http://www.telegraphindia.com/1140403/jsp/you/18146793.jsp . 29 July 2014 . dead .
  7. News: VG Siddhartha: The man who tasted success through coffee . 30 July 2019 . Economic Times . Jul 30, 2019 . https://web.archive.org/web/20190730054853/https://economictimes.indiatimes.com/industry/cons-products/food/vg-siddhartha-the-man-who-tasted-success-through-coffee/articleshow/70443514.cms . 30 July 2019 . live .
  8. News: KKR-led consortium to invest Rs 1k-cr in Coffee Day Resorts . 15 March 2010 . Economic Times . Jul 24, 2014 . https://web.archive.org/web/20140708203153/http://articles.economictimes.indiatimes.com/2010-03-15/news/27618290_1_kkr-cafe-coffee-day-coffee-bars . 8 July 2014 . live .
  9. News: Cafe Coffee Day unveils new logo. 6 October 2010. Deccan Herald. Bangalore. Jul 24, 2014. https://web.archive.org/web/20140728144351/http://www.deccanherald.com/content/29049/cafe-coffee-day-unveils-logo.html. 28 July 2014. live.
  10. News: Cafe Coffee Day to go for makeover, to open 180 outlets this fiscal . 28 June 2010 . . Barcelona . Jul 24, 2014 . https://web.archive.org/web/20140729032157/http://www.dnaindia.com/lifestyle/report-cafe-coffee-day-to-go-for-makeover-to-open-180-outlets-this-fiscal-1402432 . 29 July 2014 . live .
  11. Web site: Competition in the coffee retailing sector steps up. 18 August 2011 . 22 August 2011. https://web.archive.org/web/20120115121954/http://businesstoday.intoday.in/story/competition-in-coffee-retailing-grows/1/17520.html. 15 January 2012. live.
  12. Web site: India's leading Coffee Chain Cafe Coffee Day founder dead body found . 31 July 2019 . 31 July 2019 . https://web.archive.org/web/20190731060932/https://pixr8.com/news/indias-leading-coffee-chain-cafe-coffee-day-founder-dead-body-found/ . 31 July 2019 . live .
  13. Web site: Coffee Day Enterprise Appoints Global Accounting Firm EY to Scrutnise Book of Accounts. News18. 8 August 2019 . 2019-09-03. https://web.archive.org/web/20190903140818/https://www.news18.com/news/business/coffee-day-enterprise-appoints-global-accounting-firm-ey-to-scrutnize-book-of-accounts-2263585.html. 3 September 2019. live.
  14. News: Laskar. Anirudh. Coffee Day gets Rs. 1800 crore from Blackstone for IT park deal. 27 March 2020. Live Mint. 29 March 2020.
  15. Web site: Prasad B . keshava . 24 July 2023 . ದಿವಾಳಿ ಪ್ರಕ್ರಿಯೆಗೆ ಅರ್ಜಿ ಸಲ್ಲಿಸಿದ ಕಾಫಿ ಡೇ ಗ್ಲೋಬಲ್ . 24 July 2023 . Vistara News.
  16. Web site: CCD acquires Czech Republic's Cafe Emporio . 30 March 2020 . 1 June 2010 .

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Café Coffee Day".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.