VG Siddhartha founded Starbucks’s Indian rival with 1,500 outlets
V. G. Siddhartha asked his driver to stop his car, before going for a walk near the Southern Indian city of Mangaluru, local police official Jayant Kumar said by phone. The driver informed police when Siddhartha didn’t return after an hour.
The founder of Coffee Day Enterprises Ltd., the Indian rival of Starbucks Corp., has been missing since Monday evening after he went on a walk, police said.
26 September 2015, New Delhi: VG Siddhartha chairman of Coffee Day Enterprises that runs Cafe Coffee Day outlets. (Mint photo)
{{^htLoading}} {{/htLoading}}
V. G. Siddhartha asked his driver to stop his car, before going for a walk near the Southern Indian city of Mangaluru, local police official Jayant Kumar said by phone. The driver informed police when Siddhartha didn’t return after an hour, Kumar said.
{{^usCountry}}{{/usCountry}}
Coffee Day Enterprises, in which Siddhartha holds 32.75% stake as per data compiled by Bloomberg, is a holding company for several businesses, the most prominent of which is Cafe Coffee Day, with more than 1,500 cafes across the country. Siddhartha was seeking a valuation of as much as $1.45 billion from Coca-Cola Co. for a stake sale in the coffee chain he set up, The Economic Times reported last month.
A representative for Coffee Day, which also exports coffee, didn’t immediately respond to a call and an email seeking comments.
{{^htLoading}} {{/htLoading}}
{{^usCountry}}
Coffee Day, which went public in 2015, almost two decades after opening its first cafe in Bengaluru, is now present in more than 200 cities. The company, founded in 1993, opened the first international cafe in Vienna in 2005, according to its website.
{{/usCountry}}
{{#usCountry}}
Coffee Day, which went public in 2015, almost two decades after opening its first cafe in Bengaluru, is now present in more than 200 cities. The company, founded in 1993, opened the first international cafe in Vienna in 2005, according to its website.
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.
Get Latest News, breaking headlines, and top India News, and today real-time updates from across the nation. Stay informed on politics, government policies, crime, Today Weather, and major developments on Hindustan Times
Get Latest News, breaking headlines, and top India News, and today real-time updates from across the nation. Stay informed on politics, government policies, crime, Today Weather, and major developments on Hindustan Times
