13/01/2022
In July, 2019, the founder of Cafe Coffee Day: V. G. Siddhartha committed su***de. In a note, he has mentioned several reasons for his action. Cafe Coffee Day, one of the most renowned Indian brands with more than 1700 outlets, was under severe debt of Rs 7200 crore at time. He couldn’t take it anymore.
After he died, everyone assumed that the brand CCD, as we all know it, has died too. After all, who will handle this huge debt, and repay it?
Everyone thought that it is the end of the story of many success stories creator CCD. No one can save it, everyone felt bad about this, but a lady came forward to make sure, CCD to create many more success stories and memories, Mrs. Malavika Hegde, wife of Late VG Siddhartha.
Inspite of the personal loss she has, she took over the reins of a failing company, and deployed some stunning management tactics and strategies, and brought down the debt to Rs 3100 crore by March 2020, and to Rs 1731 crore today. A reduction of 75% in two years!
In an inspiring note written to all stakeholders and employees, that this reduction in loan: from Rs 7200 crore to Rs 1731 crore in two years, has been done without any favors from any lender, and she will not only repay every single penny back to them but also revive Cafe Coffee Day.
An incredible turn-around, seldom seen in the corporate sector, especially when flamboyant entrepreneurs like Vijay Mallya and Nirav Modi have fled their own country, and are hiding away in other countries with similar debts and liabilities.
Malavika Hegde has shown what it means to be a true leader. She didn’t hide, she didn’t stop, she didn’t let Cafe Coffee Day die. She has set new benchmarks in displaying resilience, determination, and a firm will.
This clearly shows the power of a WOMAN. Irrespective of the seriousness of a problem, or the support, they are the true leaders. By birth entrepreneurs.
She is my hero. A true SHERO. Let’s take a moment to salute every SUPER WOMAN we see in our day to day life. Let’s not stop our SHERO’s chasing their dreams.