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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.
CEO Rajat Luthra, former head of KFC India, has already pared the losses. The dessert margins clear 50% and the chain badly needs the footfall.
But customers walk into Third Wave for coffee not tres leches.
Can desserts turn the business around without changing its identity?
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Daybreak 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.
CEO Rajat Luthra, former head of KFC India, has already pared the losses. The dessert margins clear 50% and the chain badly needs the footfall.
But customers walk into Third Wave for coffee not tres leches.
Can desserts turn the business around without changing its identity?
*Apply to become The Ken’s Intermission Producer
*Apply for an audio production internship
Daybreak 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.
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What is Daybreak?
Business news is complex and overwhelming. It doesn’t have to be. Every day of the week, from Monday to Friday, Daybreak tells one business story that’s significant, simple and powerful.
Hosted from The Ken’s newsroom by Snigdha Sharma and Rachel Varghese, Daybreak relies on years of original reporting and analysis by some of India’s most experienced and talented business journalists.