Essay Quick Service Restaurants
Once an introvert, domestic home driven Indian population is now opening up to a culture of eating out. India is a young country with almost 60 percent of people in the age window of 18- 35 years which are also the most spending years, hence QSR. The first foreign Quick Service restaurant and casual dining entered Indian Market around 20 years ago. Although Quick Service Restaurants contributes to only 2-3% to India’s GDP, the market is worth INR 247,680 crore (USD 48 billion) and is expected to grow to INR 408,040 crore (USD 78 billion) by 2018. It comprises of food services that are organized such as full service casual and fine dining restaurants, hotels, bars and lounges, cafes and frozen …show more content…
The company began by exporting coffee grown in its own estate of 12,000 acres in 1993 and soon became the largest exporters in two years span. Today they sell 6,500- 7,000 tonnes of coffee across the world including United States, Europe and Japan. The Company’s turn over revenue in 2014 was US $450 million, and Siddartha today has a net worth of US $ 1.1 billion making him the 73rd richest man in India according to Forbes. In 2011, Cafe Coffee Day was named ‘most popular hangout joint amongst youth’ at 3rd youth marketing forum and ‘India’s most popular coffee joint’ at Indian Hospitality Excellence.
VG Siddhartha holds 54.78% stake in the company and other promoters together have 92.75% holding. Among the other major shareholders, Kohlberg Kravs Roberts & Co has 3.43% and Nandan Nilekani, Infosys co-founder and former chief of UIDAI, holds 1.77%. Café Coffee Day holding company comprises of real estate developer Tanglin, holds 20% stake in the listed IT services firm, Mind Tree, as well 55% stake in Sical Logistics. It is the rival of Starbucks which launched in