Third Wave Coffee’s CEO steps down, to be replaced by ex-KFC CEO

Third Wave Coffee’s co-founder and CEO Sushant Goel is set to leave his post, with former KFC top boss Rajat Luthra to take over the post of top boss.

Luthra’s appointment will be in effect from the first quarter of FY25, Third Wave Coffee said while announcing the transition.

In his previous role, Luthra was CEO of KFC (India & Nepal) Devyani International, associated with the company since 2011.

His previous roles were with Future Group’s Celio Future Fashion as their CEO.

Luthra, who holds a diploma in Hotel Management from a New-Delhi based institute, has also been associated with Barista Coffee, Dominos Pizza, Pizza Hut Qatar and Hindustan Unilever. 

Third Wave Coffee is a Bengaluru-based quick service restaurant (QSR) chain serving speciality coffee to customers. It competes with the likes of Tata-backed Starbucks, Barista and Cafe Coffee Day in the segment. 

Third Wave Coffee began operations in 2016, founded by Goel and co-founders Ayush Bathwal and Anirudh Sharma.

The trio has taken the company to over 100 outlets across India.

'In his capacity as a board member, Goel will continue to guide the strategic direction of the company and develop new initiatives for Third Wave Coffee,' the company said. 

Third Wave Coffee, was a single store roastery in its inception days with a single store in Koramangala, while today it has more than 100 stores across 8 cities.

The QSR chain had recently raised $35 million in Series C funding from Creaegis and existing investor WestBridge Capital.

(With PTI Inputs)