VG Siddhartha (CCD founder) Wiki, Age, Caste, Wife, Family, Death, Biography, etc – WikiBio
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VG Siddhartha is an Indian businessman from Karnataka. He is the founder and owner of the popular food and beverage chain Cafe Coffee Day.
Wiki/Biography
VG Siddhartha was born in 1959 (age 60; at the time of death) in Chikmagalur, Karnataka. He attended the local Chikmagalur school. He did his undergraduate studies at St Aloysius College in Mangalore. He is pursuing a master’s degree in economics at Mangalore University. He wanted to join the Indian Army when he was in college and he also joined the NCC when he was in college.
VG Siddhartha after college
After finishing his studies, he returned to his hometown. His father wanted him to join the family business, but Siddhartha wanted to do something for himself and make a name for himself. In 1985, he went to Mumbai to try his luck. He lives in a place called Fort, in a single room with a shared bathroom. He then went to JM Financial, a financial securities company, to ask for an interview. Although he didn’t have an appointment, the receptionist was from Karnataka and he made him wait. He was interviewed by the company’s vice chairman, Mahendra Kampani. The interview went well and he was selected.
VG Siddhartha and Mahendra Campani
Siddhartha liked Mahendra very much and used to call him Mahendrabai. He has learned everything from him and also considers him his idol. Siddhartha used to invest his money in stocks and other financial securities, but Mahindra advised him not to invest everything in one place. This allowed Siddhartha to invest his money in coffee estates, and by the end of his career at JM Financials, he had 3,000 acres of coffee plantations to his name. He left JM Financials in 1985 after two years at JM Financials.
VG Siddhartha in his youth
He came home and asked his father to lend him money to start his financial securities company. His father lent him 7.50 Lacs INR and said-
When you lose it, you can go home”
It was at this moment that Siddhartha decided that he could not lose the money. He bought land worth 5 Lacs INR and used the remaining money to start his company Sivan Securities. Later, he renamed the company “Way2Wealth Securities”. While working in the financial securities business, he also runs his own coffee plantation.
appearance
Height (approximately): 6′ 2″
Weight (approx.): 70 kg
eye color: Black
hair color: Black
family, wife and caste
VG Siddhartha belongs to Vokkaliga caste (Traditionally considered to be landlords and village chiefs). His father, Gangaiah Hegde, was the owner of many coffee estates. His mother Vaasanthi G Hegde was a housewife. His family is in the coffee export business. Siddhartha married Malavika Krishna in 1991. Malavika is Daughter of former Karnataka Chief Minister SM Krishna. They have two sons, Eshaan and Amartya.
VG Siddhartha with his father (extreme left) and mother (left)
VG Siddhartha and his wife Malawika
VG Siddhartha’s son Eshaan (extreme left) & Amartya (extreme right)
Profession
In the early 1990s, Siddhartha managed both his company and his coffee estate. In 1994 he purchased a dying coffee curing unit and it was a success. He started a company, Amalgamated Bean Company (ABC), and began selling the brand of ground coffee locally. In 1995 he met Tchibo, the owner of a German coffee company, the second largest in Europe. Siddhartha thought that Tchibo must have been running for a century to be so successful. Siddhartha was inspired and motivated when his boss told him the story of how his company became the second largest company in just 5 years. He opened 10 retail stores in Bangalore, selling ABC ground coffee. He also started exporting ground coffee to other countries, mainly Brazil. By the end of 1995, his company was India’s largest coffee exporter.
In 1996, Siddhartha came up with the idea to open a cafe. He pitched the idea to his wife and his business partner. They rejected the idea as soon as they heard it. Because he wanted to sell coffee for 25 rupees a cup, when coffee was 5 rupees a cup at the time. Internet is new to Indians and everyone wants to be online. In the past, Internet cafes charged up to INR 100 for an hour to surf the Internet. Siddhartha then came up with the idea that they would open a cafe where you could surf the internet while drinking coffee, which also justified the price of 25 rupees. He pitched the idea to his partner and said – “Let’s start with the experiment”. In 1996, he opened the first Cafe Coffee Day branch on Brigade Road, Bangalore.
VG Siddhartha outside CCD Cafe
Cafe Coffee Day (CCD) was an instant hit, with young people intrigued by the idea that they could surf the internet and party while drinking coffee. By the end of 2000, CCD had 22 cafes in South India. In 2001, Siddharth noticed that in cities like Mumbai and Delhi, people were copying his ideas and opening cafes like CCD. It was then that he decided to open stores in North India as well. Over the next few years, Siddhartha began to expand CCD, and by the end of 2007, there were more than 200 CCD outlets in India. In 2005, CCD opened its first international branch in Vienna. Since then, it has spread to more than 7 countries. As of July 2019, CCD has about 1850 outlets worldwide.
VG Siddhartha in CCD
dispute
On September 21, 2017, 20 of his offices were raided by the Karnataka and Goa Income Tax Departments. They allege that Siddhartha was involved in tax evasion.
sign
VG Siddhartha’s signature
disappearance and death
On July 29, 2019, Siddhartha left his office in Bangalore and traveled to Sahelshpur with his driver. On his way to Sakhleshpur, he suddenly asked the driver to go to Mangaluru. On the way to Mangurulu, his car approached a bridge and he asked the driver to stop. He got out of the car and let the driver go first and waited at the end of the bridge, and he was there in a while. His driver did as instructed, but after an hour Siddhartha did not return, he worried and called him. Siddhartha’s cell phone turned off, and he drove back to find him. The driver called Siddharth’s son and informed him, who then went to the nearest police station to file an FIR.
NDRF search operation to search for VG Siddhartha
Police began a search operation on July 30, 2019. They searched the area near the bridge and the Netravati River; as one fisherman reported, he saw people diving in the river. On July 31, 2019, at 7:43 am, the search and rescue team found a body in the Netravati River. “We found a body similar to VG Siddhartha and is being taken to Wenlock Hospital in Mangaluru for family identification,” said Manguluru police chief Sandeep Patil.
VG Siddhartha’s body recovered from Netravati River
His family rushed to the hospital and identified his body. His body was taken for an autopsy and after all formalities were completed, his family took his body to Chikmagalur. On July 31, 2019, his body was kept at the Chikmagalur office for anyone wishing to pay their respects to VG Siddhartha. Karnataka Chief Minister BS Yeddyurappa was also present to pay his last respects to Siddhartha.
Karnataka CM BS Yeddyurappa attends final ceremony of YG Siddhartha
His remains were cremated in Belur Taluk, Karnataka at 4.30pm on July 31, 2019. His family decided to hold his funeral there, and like Belur Taluk at his father’s coffee estate, he decided to become an entrepreneur.
VG Siddhartha’s remains brought to Chikmagalur
net worth
As of 2018, VG Siddharth’s net worth is $1.2 billion.
fact
- Apart from Cafe Coffee Day, Siddhartha has many other businesses.
- On July 31, 2019, all CCD outlets in India were closed in his memory. CCD also paid tribute to him on Twitter.
Today, we remember the legend that inspired us all. Thank you Chairman VG Siddhartha for his vision, leadership and great legacy. pic.twitter.com/tYMiglgofe
— Cafe Coffee Day (@CafeCoffeeDay) July 31, 2019
- Following his death, CCD management appointed SV Ranganath as interim chairman and Nitin Bagmane as interim chief operating officer (CEO).
VG Siddhartha and SV Ranganath
- His father, Gangaiah Hegde, who was in a coma, died on August 25, 2019, nearly a month after Siddhartha’s death. He was hospitalized for a long time and was in a coma for more than a month. His father didn’t even know about his son’s death.
VG Siddhartha and his father Gangaiah Hegde
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