Malavika Hegde’s turnaround of CCD an inspiration
Wednesday January 12, 2022, By Diversity Digest
More than two years ago, Malavika Hegde was a broken woman after the sudden demise of her husband VG Siddhartha, who founded Coffee Day Enterprises Ltd (CDEL). Cafe Coffee Day, or CCD as it’s popularly known, was his brainchild. Today, as the CEO, she is continuing his dream of running a successful coffee chain that revolutionized the concept of cafes in India, serving as an inspiration for many women.
Siddharth ended his life in July 2019, shocking his near and dear ones. Today, six months short of the third death anniversary, his wife Malavika, who led the business from the front taking over as CEO in 2020, has reduced the debt from Rs 7000 crore. It stood at Rs. 1,779 crore in March 2021.
The story of resurgence has been breaking the internet in the last few days. An example of fortitude, Malavika has resolved to march on.
Malavika has emerged in the foreground just recently. However, she has been associated with the company for a while now. Reports say that when her husband suggested the idea of opening a café selling a cup of coffee at Rs 25, she shot down the proposal because there were cheaper alternatives. It was then that Siddharth came up with the idea of offering internet and coffee—a novel idea in the ’90s.
The number of women CEOs has been increasing in recent times. Success stories like Malavika’s— of how she hauled the company out of adversity— do a lot to inspire more women to climb the ladder and write their annals of empowerment.
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