Meet Malavika Hegde, The Woman Who Saved Cafe Coffee Day From The Debt Of Rs 7000 Crore – News18

Café Coffee Day is a well-known and beloved destination for coffee lovers, offering a place to enjoy coffee, socialise with friends, and conduct business meetings. But, there was a time when the café faced a severe crisis that brought it to a standstill. VG Siddhartha, the visionary behind the business chain, tragically took his own life due to the overwhelming burden of the company’s staggering debt of Rs 7,000 crore. Despite Siddhartha’s despair, his wife, Malavika Hegde, emerged as a beacon of determination and resilience, committed to saving the company under any circumstances.

Malavika Hegde, the daughter of former Karnataka Chief Minister SM Krishna, refused to give up even in the face of the daunting challenges posed by the debt-ridden company and the profound grief of her husband’s suicide. She tirelessly worked towards turning Siddhartha’s dream of Cafe Coffee Day into a thriving enterprise. Her unwavering efforts began to bear fruit. As of July 31, 2019, CCD carried a debt burden of Rs 7,000 crore.

In December 2020, Malavika assumed the role of CEO of CCD Enterprises Limited. Her primary objective was to reduce the company’s debt while instilling trust and confidence in the employees. Reports indicate that she penned a heartfelt letter to the employees, assuring them of their commitment to revitalising the company and securing the future of its workforce. In just a year, she managed to repay a loan of Rs 1,644 crore. Additionally, Malavika Hegde forged strategic partnerships with Blackstone and Shriram Credit Company, focusing on expense reduction and revenue growth. These efforts soon yielded positive results.

The discussions surrounding the potential closure of the company gradually subsided, and the business regained momentum. Café Coffee Day currently operates successfully with approximately 572 outlets in 165 cities across the country. Remarkably, under Malavika’s leadership, the company’s debt has significantly reduced from Rs 7,000 crore to a mere Rs 465 crore.

The foundation of Café Coffee Day was laid in Bengaluru on July 11, 1996, by VG Siddhartha. Since then, the brand has garnered immense popularity and become a favourite among coffee enthusiasts nationwide.