Jobaaj Stories
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Everybody has heard of and visited Café Coffee Day. Café Coffee Day, or CCD, is one of the best businesses to come out of a home. India's coffee culture was revolutionized by the business endeavor CCD, started by entrepreneur VG Siddhartha. However, considering the size of the accumulated debt, everyone was uncertain about how things would end after Siddhartha's unexpected passing. Malvika Hegde's challenges and how she kept CCD alive are described in this Jobaaj Stories episode.
EARLY LIFE
Malavika Krishna was born in the city of Bengaluru, located in Karnataka. At a nearby school, she continued her early education. She went to Bangalore University to pursue her engineering studies. She is a Vokkaliga tribal member. In India, her father is a well-known politician. Her mother was an active social activist. She also has a younger sister named Shambhavi Krishna employed in the business. After getting married in 1991, Malavika and VG Siddhartha had two kids, Eshaan and Amartya.
She began working in the coffee sector as soon as she got married. Before, she served on the CCD board, although she wasn't a part of the executive board.
EDUCATION
The CEO of Café Coffee Day, Malavika Hegde, received her engineering degree from a private school in Karnataka where she completed her schooling. She started her own business after getting married and was successful. She is the only one who can lead CCD out of chaos and push it to new heights. Despite her husband's suicide, she persisted and rose from the ashes like a phoenix.
She started working because she was determined to realize her husband's ambition of turning CCD into a lucrative business model. She was also aware of the duties and working circumstances that CCD faced. The debt reduction approach was not a magical one. Hegde has to put in a lot of effort.
HER WORK
According to its annual report, as of March 31, 2021, it has a net debt of Rs 1,731 crore. The bank decreased the deficit from Rs 7,200 crore in March 2019 to Rs 3,100 crore as of March 31, 2020, with one rupee in lender concessions. Coffee Day lowers its debt to Rs 1,731 crore. Malavika never increased the price of the coffees it sold. Besides removing hundreds of coffee vending machines from many IT parks and institutions, she shut down many failing businesses. According to sources, the company paid its loan of Rs 1,644 crore.
INSPIRATION
Malavika has dedicated her entire professional life to growing the company. She was going through a tough time since she had suffered a personal loss, which made it harder for her to do her job. The fact that she was still able to lead a big organization with the highest commitment and honesty despite the challenges illustrates her professionalism.
She serves as an admirable example for other ladies and the community. She succeeded as an entrepreneur in India because of the tenacity and consistency she demonstrated during the most challenging time of her life. She teaches us the importance of patience, excellent leadership, and honesty with our loved ones.
CONCLUSION
There is a lot to learn from her composed stillness and quiet courage in repaying millions of rupees in debt during the competition for CCD. She is a humble lady who doesn't show off her physical prowess. She was a fantastic mother to her sons and a beautiful wife to her late husband. She is leading CCD on the right path.
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