Suess To Entrepreneurial Downfall

Cafe Coffee Day

Success to Entrepreneurial downfall 

A lot of employment came over a coffee. A legend created a lot of jobs over Coffee. Coffee Café Day (CCD) a first Indian brand that has earned fame and renowned coffee place globally. It was found in 1996 & is the rivalry to café like Barista, costa, etc.  Indian entrepreneur VG Siddhartha opened the very first CCD at Brigade Road, Bangalore, founder of CCD. The business spread rapidly; more than 1000 outlet has been opened across the country. 

VG Siddhartha
Image source: newsd.in

VG Siddhartha is a coffee king. He owns 12,000 acres of coffee plantations, where he grows coffee in Chikmagalur and exports coffee. About 28,000 tonnes of coffee sold annually. Another 2,000 tonnes of coffee sold separately across the country for about Rs 350 million each year. In the year of 2000, Siddhartha also founded Global Technology Ventures Ltd. Company is based on identifying, investing and mentoring Indian companies engaged in technologies

Cafe Coffee Day
Image source: news.franchiseindia.com

After receiving huge success and fame across the nation and beyond that. His career stuck with a huge downfall. In the year of 2017, a tax raid was conducted by senior officers of the Income Tax Department of Karnataka and Goa regions at over 20 locations in Mumbai, Bengaluru, Chennai, and Chikmagalur. He found himself amidst a tax evasion. He had to sell his Mindtree stake. Recently, the US beverage giant Coca-Cola was in talks with Mr. Siddhartha to buy the Cafe Coffee Day chain to expand its portfolio. 

He was in dept and he was not able to bear the pressure, took a vicious step. He went into a crisis and now he is no more between us. As an entrepreneur, I think we have lost a legend in the entrepreneurial world. It was very unfortunate that he had to take his own life. These days many entrepreneurs are facing this crisis however, this was the most unfortunate incident that happened until now. We should take some major steps to stop this crisis as the fraternity. His journey as an entrepreneur and his work towards charity shall always be remembered. RIP

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