{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Daybreak","title":"Third Wave built a coffee brand. Now it's betting against it","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/c938828f\"></iframe>","width":"100%","height":180,"duration":616,"description":"No coffee chain in India is clearly profitable. Third Wave Coffee, which lost 110 crore rupees in FY24 with nearly 70% of its stores in the red, is trying to change that with cake. Its new sub-brand, Third Rush, has put around 200 dessert items on the menu, with plans for 50 cafes by year-end.\nCEO Rajat Luthra, former head of KFC India, has already pared the losses. The dessert margins clear 50% and the chain badly needs the footfall.\nBut customers walk into Third Wave for coffee not tres leches.\nCan desserts turn the business around without changing its identity?\n*Apply to become The Ken’s Intermission Producer\n*Apply for an audio production internship\n\nDaybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.","thumbnail_url":"https://img.transistorcdn.com/uPitovxKRYBGX6AWg9UrET6s3nAdkS-Ci9uZvsZj7vk/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS85ODhl/ZWM4NmEwZTcxZjZk/MDRlYjAzNTNkMjJi/ZGQ2YS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}