Malavika Hegde, the CEO of Cafe Coffee Day (CCD), is a shining example of resilience and determination. After the untimely demise of her husband, VG Siddhartha, in 2019, Malavika took the reins of the company and successfully navigated it through a challenging period.
CCD was facing a debt of over Rs 7,000 crore at the time, but Malavika was determined to save the company her husband had built. She implemented a number of strategic initiatives, including reducing costs, selling non-core assets, and raising fresh capital. She also focused on improving the customer experience and expanding the company's product portfolio.
As a result of her efforts, CCD was able to turn around its business and reduce its debt significantly. In 2022, the company made a profit for the first time in three years.
Malavika's success story is an inspiration to us all. It shows that even in the face of adversity, it is possible to achieve our goals through hard work, perseverance, and a positive attitude.
Here are some of the key steps Malavika took to save CCD:
- She negotiated with lenders to restructure the company's debt.
- She sold non-core assets, such as the company's stake in Mindtree.
- She raised fresh capital from investors, including private equity firms and banks.
- She focused on improving the customer experience by renovating stores and introducing new products and services.
- She expanded the company's product portfolio to include food, merchandise, and coffee subscriptions.
Malavika's success is a testament to her resilience, leadership skills, and commitment to CCD. She is a role model for women everywhere who are striving to achieve success in the business world.
