{"id":2223,"date":"2015-09-30T11:28:00","date_gmt":"2015-09-30T11:28:00","guid":{"rendered":"https:\/\/www.thirdeyesight.in\/?p=2223"},"modified":"2022-11-07T12:23:54","modified_gmt":"2022-11-07T12:23:54","slug":"riding-fast-on-the-e-way","status":"publish","type":"post","link":"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/","title":{"rendered":"Riding fast on the e-way"},"content":{"rendered":"\n

Raghavendra Kamath, Business Standard
\n Mumbai, 30 September 2015 <\/i><\/p>\n

It might not exactly be a battle zone, but the historic south \n Mumbai neighbourhood of Fort recently witnessed a quiet retail \n war. Not very far from the Bombay High Court runs a busy street \n that leads to US coffee chain Starbucks\u2019 first Mumbai store. \n Situated near Horniman Circle, a stone\u2019s throw from the Bombay \n Stock Exchange, the store experienced quite a crowd when it first \n opened. Along the usually crowded street leading up to it are \n a dozen other shops that jostle for attention, among which is \n a store that has shut down and whose signboard reads \u2018The \n Lounge\u2019.
\n It\u2019s not unusual to see a shut store in Mumbai\u2019s many \n alleys and bylanes, but what\u2019s interesting about this closed \n outlet is that it used to be run by one of India\u2019s oldest \n and largest coffee chains \u2014 Caf\u00e9 Coffee Day (CCD). \n The story goes back to October 2012, when Tata Starbucks, an equal-stake \n joint venture between Tata Global Beverages and Starbucks Corporation, \n opened its first store in India in the aforementioned locality. \n CCD, owned by VG Siddhartha, wanted to take the fight to the enemy \n camp. The Lounge was one such format aimed at countering the sophisticated \n look and feel of Starbucks.
\n <\/p>\n

The nearly 2,000 sq ft outlet clearly was no match for the global \n coffee giant\u2019s maiden store. While business picked up for \n the new store, customers deserted CCD\u2019s The Lounge, eventually \n leading to its closure sometime in mid-2014. Although Starbucks \n is a relative newbie on the Indian caf\u00e9 circuit, its brand \n recall and growing presence \u2014 over 75 outlets in two years \n \u2014 is giving customers who grew up with CCD a chance to switch \n loyalties.
\n <\/p>\n

Take Ratnesh Jain, 18, a college student who keeps track of every \n penny he spends. Depending on how much time he has on his hands \n and the location that is most convenient to him, Jain picks either \n a CCD or Starbucks outlet to meet-up, although he says he clearly \n prefers Starbucks, a departure from his choice in the past. \u201cIt\u2019s \n difficult to match the service and ambience of Starbucks. Not \n just that, Starbucks delivers value for money in terms of a better \n menu with larger and more delicious helpings, as compared with \n CCD,\u201d reveals Jain while sitting at a CCD store in upmarket \n Colaba.
\n <\/p>\n

Jain goes on to explain, \u201cFor a very small portion of a \n Dark Fantasy cake, CCD charges about Rs. 100, plus extra for toppings, \n taking the entire bill to about Rs. 200. Starbucks, on the other \n hand, charges around Rs. 200 for a similar dessert and offers \n a much larger portion, complete with toppings.\u201d Jain doesn\u2019t \n mind that CCD doesn\u2019t offer him free Wi-Fi, although he feels \n the pinch of the coffee and food not matching his palate. Many \n others like Jain have developed a newfound loyalty for Starbucks, \n where they say they find better service and ambience. \u201cYou \n don\u2019t mind paying more in return for better ambience, lively \n atmosphere and an eclectic menu. CCD got lucky as it had a first-mover \n advantage and customers did not have much choice back then,\u201d \n points out 20-year-old student Ketaki Sharma. She is a regular \n at Starbucks and spends hours working on college projects there, \n along with her classmates and friends.
\n <\/p>\n

Yet another Starbucks patron \u2014 20-year-old Damini Kane \u2014 \n says there is a clear difference between the service standards \n of Starbucks and the rest of the caf\u00e9 chains in India. \n \u201cCCD should certainly focus on improving its menu, becoming \n more customer-friendly and, importantly, make its cafes more inviting,\u201d \n says Kane. At a Starbucks outlet, you might find everyone from \n office-goers to students, tourists and the like making full use \n of the uninterrupted free Wi-Fi.
\n <\/p>\n

In response, CCD tried to field the same proposition to draw \n in customers and not all loyalists switched camps. Youngsters \n like Pakhee Malhotra are clearly not buying into Starbuck\u2019s \n phoren halo. \u201cStarbucks doesn\u2019t sell good coffee. It \n sells overpriced coffee. To pop about Rs. 200 for a Grande Caramel \n Macchiato you must have a really rich dad. Hats off to you for \n drinking away money like that,\u201d writes Malhotra in an article \n on iDiva. Though this counterpoint seems to favour CCD, in an \n age of growing competition and fickle brand loyalty, it needs \n to look at ways to fire up its brand pull and improve customer \n satisfaction. While the caf\u00e9 chain has its task cut out \n when it comes to creating a great consumer experience, the 55-year-old \n Siddhartha deserves accolades for the manner in which he built \n \u2014 and, more importantly, ran profitably \u2014 an enviable \n coffee business for the past two decades.
\n <\/p>\n

Freshly ground<\/b>
\n <\/p>\n

The idea of setting up caf\u00e9s was not even on the agenda \n for Siddhartha, the son of a coffee plantation owner who is married \n to the daughter of SM Krishna, the former chief minister of Karnataka. \n \u201cGetting into the coffee business was incidental. We started \n off exporting coffee and realised two years later that it would \n not take us too far,\u201d says the reclusive billionaire as he \n makes himself comfortable at the Lounge outlet at Nariman Point, \n the central business district of Mumbai. It was in 1994 that he \n came across an article on a German company called Tchibo, which \n started off as a 10×10 store in 1949 to finally emerge as a chain \n of coffee retailers and cafes.<\/p>\n

\u201cI was inspired by that and started with 20 stores in south \n India selling coffee powder. In 1995, we decided to take the caf\u00e9 \n route, since there was a bigger opportunity for value addition \n there. In the coffee powder business, the mark-up is 100%, while \n in the caf\u00e9 business it is as much as 800-900%,\u201d points \n out Siddhartha. Taking inspiration from how other international \n brands went about building their businesses, Siddhartha and his \n team started putting the company together.
\n <\/p>\n

While exports continue to be a part of the business, the coffee \n arm today comprises a caf\u00e9 network, which includes the \n value format of CCD, The Lounge for trendy and affluent customers \n and The Square for coffee connoisseurs. While Lounges (between \n 1,000 sq ft and 1,300 sq ft) and Squares (between 2,500 sq ft \n and 3,000 sq ft) are located at expensive locations that attract \n more affluent clientele, the CCD outlets are at more affordable \n locations.
\n <\/p>\n

Besides, the company also sells vending machines to institutional \n and individual clients, sets up kiosks and is selling brewed coffee \n powder through Fresh & Ground branded outlets. (See: A distinct \n flavour) When CCD entered Mumbai 14 years back, it opted for smaller \n stores as the team wasn\u2019t confident that the market was ready, \n apart from the fact that rentals were too high even back then. \n
\n <\/p>\n

\u201cHad we opened 1,500-sq ft stores in Mumbai at that time, \n we would have gone bankrupt. Our key competitor at that time was \n paying 70% of revenue only towards rent,\u201d points out Siddhartha. \n Interestingly, CCD did not opt for expanding through the franchisee \n route and instead chose to spend its own capital. However, to \n counter high rentals, it entered into revenue-sharing agreements \n with corporates as well as fuel stations. At present, 25% of its \n outlets are run on a revenue-share model.
\n <\/p>\n

\u201cWe have five to seven corporate relationships where we \n only have revenue-sharing agreements. For them, CCD becomes a \n complementary service,\u201d mentions Siddhartha. Highlighting \n the ownership approach, the company\u2019s draft prospectus mentions \n that complete ownership allows it to control all the operational \n aspects of its caf\u00e9 operations, thereby, ensuring that \n it is able to deliver a consistent experience to its customers. \n
\n <\/p>\n

From a one-store-one-outlet (Coffee Day Cyber Caf\u00e9) format \n in Bengaluru to around 1,500 stores, CCD today has a stranglehold \n over the caf\u00e9 market. Over the past two decades, quite \n a few players have come in and set up shop, but none could match \n the speed and scale at which CCD grew. Barista, which set up shop \n in 2000, is a distant second with 169 outlets, followed by Costa \n Coffee with 89 outlets.
\n <\/p>\n

Although Barista initially started operations with premium pricing, \n it rejigged its strategy mid-way, making its menu more affordable. \n But that has not worked for the coffee chain, which has already \n changed hands twice. The other fringe players in the caf\u00e9 \n business include the California-based The Coffee Bean and Tea \n Leaf and home-grown Mocha. Australia\u2019s Di Bella Coffee, which \n had a troubled presence in the country after exiting a JV in 2013, \n is now re-entering the market with a new licensee, Electel.<\/p>\n

Putting CCD\u2019s growth in perspective, Saloni Nangia, president, \n market research, Technopak Advisors, says, \u201cCaf\u00e9 Coffee \n Day had a very aggressive expansion strategy and it looked at \n smaller cities, too. It did not limit itself and adapted formats \n depending on the size of the location, thus, ending up in all \n sorts of nooks and corners.\u201d
\n <\/p>\n

Pricing is another aspect that CCD built its plank on. For a \n little perspective, a small portion of cappuccino at Starbucks \n is priced at about Rs. 129, while it comes for Rs. 79 at a Caf\u00e9 \n Coffee Day outlet. A sandwich at Starbucks, however, costs no \n less than Rs. 170, while at Caf\u00e9 Coffee Day one can have \n it for Rs. 89. Today, unlike Starbucks, the caf\u00e9 network \n has four different price points.
\n For instance, what it charges at an uptown Mumbai outlet will \n be very different from what it charges in Navi Mumbai, a Greater \n Mumbai Metropolitan suburb. On average, however, CCD is still \n the cheapest among the caf\u00e9 and quick service restaurant \n (QSR) chains. \u201cWe are 57% cheaper than the competition. Will \n they reduce prices by 40% and still be able to pay their rentals?\u201d \n quips Siddhartha. While he does have the upper hand over his rivals, \n CCD has its own share of problems. <\/p>\n

Storm in a coffee cup <\/b>
\n <\/p>\n

Over the past four years, the vertically integrated CCD has had \n to shut over 300 stores, even as it opened close to 700 stores \n over the same period. A record 175 outlets were closed in the \n nine months of FY15 alone . The company\u2019s draft prospectus \n mentions that in 2014, it undertook a strategic review of its \n caf\u00e9 network and decided to close certain caf\u00e9s \n due to their smaller size, lower levels of performance and higher \n rentals on renewal of leases.<\/p>\n

Putting the development in context, Siddhartha explains, \u201cIn \n Mumbai, 10-12 years ago, we took on lease 400 sq ft stores, which \n does not make much sense in today\u2019s day and age. Also, ahead \n of the listing, we wanted to do a one-time clean-up.\u201d Incidentally, \n amid the closures, CCD\u2019s average sales per day (ASPD) per \n caf\u00e9 grew by 3.9% from FY12 to FY13 and by 11% from FY13 \n to FY14, further increasing by 13% to Rs. 13,505 for the nine \n months of FY15.<\/p>\n

With an average store size of 1,700-2,000 sq ft and average spend \n per person of Rs. 175-200, Starbucks delivers ASPD in the range \n of rs. 60,000-65,000, nearly four times that of CCD and Barista \n (See: Far from hot). Industry observers believe the spurt in CCD\u2019s \n average customer spend could partly be because of the high level \n of closures in FY15 and the fact that it has opened just 79 outlets \n in the nine months of FY15 against 158 for the whole of FY14. \n

\n Siddhartha, however, is not giving up on his expansion plan. \n The company plans to spend Rs. 88 crore from the proposed IPO proceeds \n to set up 216 outlets and 105 kiosks by FY17. \u201cThe way I \n see it, India can have thousands of stores on the highways at \n our price point. On the Kanyakumari-Madurai highway, we have two \n stores; between Goa and Mangaluru, we have three. That is a very \n small number. We have sold 1.3 billion cups of coffee and tea \n this year. Over the past five years, we have grown 30% in that \n business. This is only the beginning of our growth story,\u201d \n he avers.
\n <\/p>\n

However, after getting aggressive with the Lounge and Square \n formats to take on Starbucks, Siddhartha had to scale back his \n plans as he found the move unviable. According to sources, around \n 2011, Siddhartha wanted to have 25% of CCD\u2019s total outlets \n under the Lounge and Square formats. But by 2013, realising that \n the capex involved for both the formats was twice that of a regular \n CCD outlet, Siddhartha decided to change tack. <\/p>\n

\n As a result, the Lounge format is restricted to 42 stores currently \n and the Square format to just seven stores. Though Siddhartha \n is a prudent competitor, what is helping him is that other caf\u00e9 \n players are happy playing second fiddle to CCD. \u201cIt is a \n typical expansion curve. First, you aim for scale and brand recognition \n and then focus on quality of profits as the model stabilises. \n Our expansion is now value-based and profitability-centred. It \n also has to do with market conditions and spending sentiment as \n a whole,\u201d says Virag Joshi, president and CEO, Devyani International, \n which runs the Costa Coffee chain.

\n CCD, however, will have to counter competition that is slowly \n building up from QSR players such as Dunkin\u2019 Donuts and McDonald\u2019s\u2019 \n McCafe. Dunkin\u2019 Donuts has opened 50 stores since its entry \n in 2012. In case of McDonald\u2019s, which introduced the McCafe \n brand three years ago, the economics work out even better, as \n the new brand is run from within the existing McDonald\u2019s \n outlet, thus saving on rentals.
\n <\/p>\n

Amit Jatia, vice-chairman, Westlife Development, the master franchisee \n of McDonald\u2019s in west and south India, says, \u201cWhat works \n for us is that we already have about 210 restaurants at prime \n locations in the west and south markets, with about 50-odd McCafes \n within them. What this format does is bring incremental revenue \n for us without any extra real estate costs. We already have accessibility, \n so what we are doing is introducing our customers to coffee and \n subsequently ramping the business up.\u201d McDonald\u2019s plans \n to take up the McCafe count to 70 by the end of FY16 and nearly \n double that number in another two years.
\n <\/p>\n

Jatia acknowledges that the coffee business in India is nascent \n but growing. What he\u2019s betting on, however, is the potential \n that the category promises. \u201cThe real caf\u00e9 chain story \n will unfold over the next two to three years. The market could \n get polarised. McCafe is not just about coffee but doubles up \n as a beverages platform for us as well, and we have to ramp it \n up quickly,\u201d he adds.
\n <\/p>\n

Just like McDonald\u2019s, Jubilant Foodworks, which introduced \n the Dunkin\u2019 Donuts brand in India, sees the brand serving \n the dual purpose of a QSR and a caf\u00e9 chain. Dev Amritesh, \n president and CEO, Dunkin\u2019 Donuts, says, \u201cWe are in \n a sweet spot between a QSR and a caf\u00e9. This kind of positioning \n is very nascent and the opportunity to create an interesting experience \n is immense. Donuts differentiate us from the rest \u2014 the product \n has a strong novelty and pull factor. It complements the category, \n which is important to the overall business.\u201d
\n <\/p>\n

Gimme more<\/b>
\n <\/p>\n

While no one can beat CCD in terms of its scale, with Starbucks, \n Dunkin\u2019 Donuts and McCafe entering the picture, industry \n benchmarks have moved up significantly when it comes to customer \n experience. In other words, even as it has one eye on profits, \n Coffee Day Enterprises will have to ensure a greater consumer \n pull.<\/p>\n

\u201cIt has scale but still needs to work on experience management, \n wherein similar customer experience is delivered across the chain. \n It remains to be seen how CCD will fare wherever it has multiple \n coffee and QSR chain brands around it,\u201d feels Nangia. <\/p>\n

Concurring with the view is Devangshu Dutta, chief executive, \n Third Eyesight, a retail consultancy. \u201cA significant threat \n to older caf\u00e9 chains lies within their own business. The \n biggest challenge in this sector is making sure that brand desirability, \n ubiquity and product-service consistency are balanced. Indian \n chains run the risk of becoming less desirable as compared with \n international brands, or may deteriorate in their product-service \n consistency with rapid growth.\u201d <\/b><\/p>\n

And while Starbucks with its limited presence may not be a challenge \n for now, what it has done to the detriment of CCD is that it has \n spoilt the consumer, especially the youth segment.
\n <\/p>\n

\u201cStarbucks has made our customers more demanding. They want \n the experience of Starbucks at CCD prices. Today, 60% of CCD\u2019s \n business is generated by repeat customers and 40% by new customers. \n The big challenge is getting the share of the 40% without losing \n the existing 60%,\u201d says an ex-CCD employee. The challenge \n for Siddhartha in creating a greater consumer experience is multi-pronged, \n as it involves staff, the right menu mix and investing in a better \n ambience. Point to staff-related issues and Siddhartha says, \u201cWe \n have 13,500 people working for the brand. Yes, we have attrition, \n although employees at above-the-store level have stayed with us. \n At the top level, we have 700 people with an attrition of not \n more than 5-6%.\u201d But the issue is with the front end, which \n deals with customers. \u201cWe interview 100 and shortlist 30, \n but at the end just 15 join us, and they, too, do not last for \n more than a year,\u201d says an insider.<\/p>\n

Siddhartha does not refute the observation. \u201cFor someone \n earning Rs. 10,000 per month in Mumbai and having to travel two hours \n to work, the quality of work is always a tricky issue. However, \n training can make things better.\u201d Initially, the staff was \n trained for just six days, but over the past year-and-a-half, \n the company has adopted a policy of retraining recruits a month \n later, for another 10 days.
\n <\/p>\n

\u201cWe have a school in Bengaluru where 500 people are trained \n each year. If we increase our training programme from six days \n to three months, the quality will improve tremendously,\u201d \n opines Siddhartha.
\n <\/p>\n

When it comes to creating a good ambience, Siddhartha says that \n in Mumbai alone, CCD has opened 20 stores of over 1,000 sq ft \n each. \u201cThese stores have a better ambience and are as good \n as any international caf\u00e9s.\u201d
\n <\/p>\n

Realising that existing caf\u00e9s, too, would need sprucing \n up, the chain is looking to spend Rs. 60 crore on refurbishment \n of existing outlets, besides improving vending machines. The other \n critical challenge that the chain needs to work on is the inconsistency \n in the quality of its beverages and its limited food menu. In \n the cafe\u00b4 market, beverages primarily dominate the stock \n keeping unit and sales mix, given the nature of the coffee retail \n space.
\n <\/p>\n

For CCD, beverages contribute 61% and the rest comes from food. \n Starbucks, on the other hand, has an average beverage sales contribution \n of 53% and the rest is food. In an earlier interaction with Outlook \n Business, Avani Davda, CEO, Tata Starbucks, had mentioned, \u201cFood \n will definitely be a key part of our business here and it is something \n we will focus on.\u201d In fact, Taj Sats has helped the chain \n develop a menu that keeps in mind local preferences. So, there\u2019s \n a cardamom-flavoured mawa croissant that Davda says has \u201cdone \n quite well\u201d, besides tandoori paneer roll, murgh kathi wrap \n and chatpata paratha wrap, among others.
\n <\/p>\n

\n
\n

In the case of CCD, till two years back, food was sourced from \n 210 vendors and today, that number is down to just four. Siddhartha \n is clear about the revenue mix that he is comfortable with. \u201cFood \n is complementary and we will do things like serving a cookie with \n a cappuccino. We want to keep that 60% intact. Food will never \n exceed 40% of our revenue.\u201d Coming to inconsistency in terms \n of coffee taste, Siddhartha points that CCD sources handcrafted \n coffee, which makes the taste inconsistent. \u201cA lot of companies \n have the technology for mechanised brewing. We, too, can manufacture \n our own machines and that can be done when we think we need to.\u201d \n <\/p>\n

If CCD has to increase its same-store sales growth and profitability, \n it will have to look at ways to offer consumers more menu options, \n especially at a time when expansion will eat into profits on account \n of depreciation. \u201cFundamentally, CCD will have to work on \n improving its billing value,\u201d says Nangia.<\/p>\n

Given that the company reports profitability for the entire coffee \n segment, it\u2019s not clear if the caf\u00e9 business is profitable \n on a standalone basis. \u201cTypically, 30% of CCD outlets bleed, \n 40% barely break even and the remaining 30% drive the business,\u201d \n says a company source. In fact, profit from coffee and related \n businesses for FY14 was Rs. 25 crore, a decline of 19% from the \n same period a year ago, although it bounced back to Rs. 30 crore \n in the nine months of FY15. <\/p><\/div>\n

\n \n <\/div>\n <\/div>\n
\n
\n

<\/p><\/div>\n

Though \n coffee and allied businesses account for over 50% of revenue and \n are profitable, on a consolidated basis, the entity has been loss-making \n for the past three financial years \u2014 all through FY14 and \n in the subsequent nine months of FY15, with a consolidated debt \n of over Rs. 2,800 crore. Of this, the debt in the coffee retail \n business accounts for only Rs. 300 crore, of which the promoter \n plans to repay Rs. 125 crore. <\/p>\n

The company, which counts KKR and Rakesh Jhunjhunwala among its \n investors, aims to utilise Rs. 633 crore \u2014 about 55% of the \n issue proceeds \u2014 towards partial repayment of loans availed \n by the company and its subsidiaries and invest the balance towards \n expansion of its coffee business. Jatia believes that the IPO \n will help CCD keep its momentum going. \u201cCCD has been a front-runner \n for coffee in India. Once it has additional funds, it will be \n able to reinvent itself,\u201d he feels.
\n <\/p>\n <\/div><\/div>\n

Clearly, Siddhartha realises that the caf\u00e9 market might \n just be hitting escape velocity and he does not want to let go \n of the opportunity. \u201cI would be kidding myself if I say I \n have got it 100% right. We realise we have made mistakes and will \n rectify that, although you must also look at great American brands \n and how they were placed when they were 20 years old,\u201d smiles \n Siddhartha, as he eyes customers who have just made themselves \n comfortable at The Lounge. <\/p>\n

(Published in Outlook \n Business.<\/a>)<\/i> <\/p>\n","protected":false},"excerpt":{"rendered":"

Raghavendra Kamath, Business Standard Mumbai, 30 September 2015 It might not exactly be a battle zone, but the historic south Mumbai neighbourhood of Fort recently witnessed a quiet retail war. Not very far from the Bombay High Court runs a busy street that leads to US coffee chain Starbucks\u2019 first Mumbai store. Situated near Horniman […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-2223","post","type-post","status-publish","format-standard","hentry","category-press-quotes"],"yoast_head":"\nRiding fast on the e-way - Third Eyesight<\/title>\n<meta name=\"robots\" content=\"index,follow\" \/>\n<link rel=\"canonical\" href=\"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Riding fast on the e-way - Third Eyesight\" \/>\n<meta property=\"og:description\" content=\"Raghavendra Kamath, Business Standard Mumbai, 30 September 2015 It might not exactly be a battle zone, but the historic south Mumbai neighbourhood of Fort recently witnessed a quiet retail war. Not very far from the Bombay High Court runs a busy street that leads to US coffee chain Starbucks\u2019 first Mumbai store. Situated near Horniman […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/\" \/>\n<meta property=\"og:site_name\" content=\"Third Eyesight\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/thirdeyesight\" \/>\n<meta property=\"article:published_time\" content=\"2015-09-30T11:28:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-07T12:23:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.thirdeyesight.in\/wp-content\/uploads\/2022\/09\/v-g-siddhartha.jpg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@thirdeyesight\" \/>\n<meta name=\"twitter:site\" content=\"@thirdeyesight\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/riding-fast-on-the-e-way\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/riding-fast-on-the-e-way\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/#\\\/schema\\\/person\\\/185f0e11ac1a68314697808a31fffddc\"},\"headline\":\"Riding fast on the e-way\",\"datePublished\":\"2015-09-30T11:28:00+00:00\",\"dateModified\":\"2022-11-07T12:23:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/riding-fast-on-the-e-way\\\/\"},\"wordCount\":3593,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/riding-fast-on-the-e-way\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.thirdeyesight.in\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/v-g-siddhartha.jpg\",\"articleSection\":[\"Press Quotes\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/myechoproject.com\\\/TES\\\/riding-fast-on-the-e-way\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/riding-fast-on-the-e-way\\\/\",\"url\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/riding-fast-on-the-e-way\\\/\",\"name\":\"Riding fast on the e-way - Third Eyesight\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/riding-fast-on-the-e-way\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/riding-fast-on-the-e-way\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.thirdeyesight.in\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/v-g-siddhartha.jpg\",\"datePublished\":\"2015-09-30T11:28:00+00:00\",\"dateModified\":\"2022-11-07T12:23:54+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/riding-fast-on-the-e-way\\\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/myechoproject.com\\\/TES\\\/riding-fast-on-the-e-way\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/riding-fast-on-the-e-way\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.thirdeyesight.in\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/v-g-siddhartha.jpg\",\"contentUrl\":\"https:\\\/\\\/www.thirdeyesight.in\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/v-g-siddhartha.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/riding-fast-on-the-e-way\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Riding fast on the e-way\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/#website\",\"url\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/\",\"name\":\"Third Eyesight\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/#organization\",\"name\":\"Third Eyesight\",\"url\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/1Third-Eyesight-Logo_small.jpg\",\"contentUrl\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/1Third-Eyesight-Logo_small.jpg\",\"width\":300,\"height\":168,\"caption\":\"Third Eyesight\"},\"image\":{\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/facebook.com\\\/thirdeyesight\",\"https:\\\/\\\/x.com\\\/thirdeyesight\",\"https:\\\/\\\/linkedin.com\\\/company\\\/third-eyesight\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/#\\\/schema\\\/person\\\/185f0e11ac1a68314697808a31fffddc\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/e68934500e53f3662c63eedee4d0149b5ca37f966bf317abf79b7bfdf52d4136?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/e68934500e53f3662c63eedee4d0149b5ca37f966bf317abf79b7bfdf52d4136?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/e68934500e53f3662c63eedee4d0149b5ca37f966bf317abf79b7bfdf52d4136?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"http:\\\/\\\/thirdeyesite.in\"],\"url\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Riding fast on the e-way - Third Eyesight","robots":{"index,follow":"index,follow"},"canonical":"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/","og_locale":"en_GB","og_type":"article","og_title":"Riding fast on the e-way - Third Eyesight","og_description":"Raghavendra Kamath, Business Standard Mumbai, 30 September 2015 It might not exactly be a battle zone, but the historic south Mumbai neighbourhood of Fort recently witnessed a quiet retail war. Not very far from the Bombay High Court runs a busy street that leads to US coffee chain Starbucks\u2019 first Mumbai store. Situated near Horniman […]","og_url":"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/","og_site_name":"Third Eyesight","article_publisher":"https:\/\/facebook.com\/thirdeyesight","article_published_time":"2015-09-30T11:28:00+00:00","article_modified_time":"2022-11-07T12:23:54+00:00","og_image":[{"url":"https:\/\/www.thirdeyesight.in\/wp-content\/uploads\/2022\/09\/v-g-siddhartha.jpg","type":"","width":"","height":""}],"author":"admin","twitter_card":"summary_large_image","twitter_creator":"@thirdeyesight","twitter_site":"@thirdeyesight","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/#article","isPartOf":{"@id":"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/"},"author":{"name":"admin","@id":"https:\/\/myechoproject.com\/TES\/#\/schema\/person\/185f0e11ac1a68314697808a31fffddc"},"headline":"Riding fast on the e-way","datePublished":"2015-09-30T11:28:00+00:00","dateModified":"2022-11-07T12:23:54+00:00","mainEntityOfPage":{"@id":"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/"},"wordCount":3593,"commentCount":0,"publisher":{"@id":"https:\/\/myechoproject.com\/TES\/#organization"},"image":{"@id":"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/#primaryimage"},"thumbnailUrl":"https:\/\/www.thirdeyesight.in\/wp-content\/uploads\/2022\/09\/v-g-siddhartha.jpg","articleSection":["Press Quotes"],"inLanguage":"en-GB","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/","url":"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/","name":"Riding fast on the e-way - Third Eyesight","isPartOf":{"@id":"https:\/\/myechoproject.com\/TES\/#website"},"primaryImageOfPage":{"@id":"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/#primaryimage"},"image":{"@id":"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/#primaryimage"},"thumbnailUrl":"https:\/\/www.thirdeyesight.in\/wp-content\/uploads\/2022\/09\/v-g-siddhartha.jpg","datePublished":"2015-09-30T11:28:00+00:00","dateModified":"2022-11-07T12:23:54+00:00","breadcrumb":{"@id":"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/#primaryimage","url":"https:\/\/www.thirdeyesight.in\/wp-content\/uploads\/2022\/09\/v-g-siddhartha.jpg","contentUrl":"https:\/\/www.thirdeyesight.in\/wp-content\/uploads\/2022\/09\/v-g-siddhartha.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/myechoproject.com\/TES\/riding-fast-on-the-e-way\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/myechoproject.com\/TES\/"},{"@type":"ListItem","position":2,"name":"Riding fast on the e-way"}]},{"@type":"WebSite","@id":"https:\/\/myechoproject.com\/TES\/#website","url":"https:\/\/myechoproject.com\/TES\/","name":"Third Eyesight","description":"","publisher":{"@id":"https:\/\/myechoproject.com\/TES\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/myechoproject.com\/TES\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/myechoproject.com\/TES\/#organization","name":"Third Eyesight","url":"https:\/\/myechoproject.com\/TES\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/myechoproject.com\/TES\/#\/schema\/logo\/image\/","url":"https:\/\/myechoproject.com\/TES\/wp-content\/uploads\/2022\/11\/1Third-Eyesight-Logo_small.jpg","contentUrl":"https:\/\/myechoproject.com\/TES\/wp-content\/uploads\/2022\/11\/1Third-Eyesight-Logo_small.jpg","width":300,"height":168,"caption":"Third Eyesight"},"image":{"@id":"https:\/\/myechoproject.com\/TES\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/facebook.com\/thirdeyesight","https:\/\/x.com\/thirdeyesight","https:\/\/linkedin.com\/company\/third-eyesight"]},{"@type":"Person","@id":"https:\/\/myechoproject.com\/TES\/#\/schema\/person\/185f0e11ac1a68314697808a31fffddc","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/secure.gravatar.com\/avatar\/e68934500e53f3662c63eedee4d0149b5ca37f966bf317abf79b7bfdf52d4136?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/e68934500e53f3662c63eedee4d0149b5ca37f966bf317abf79b7bfdf52d4136?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e68934500e53f3662c63eedee4d0149b5ca37f966bf317abf79b7bfdf52d4136?s=96&d=mm&r=g","caption":"admin"},"sameAs":["http:\/\/thirdeyesite.in"],"url":"https:\/\/myechoproject.com\/TES\/author\/admin\/"}]}},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/myechoproject.com\/TES\/wp-json\/wp\/v2\/posts\/2223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/myechoproject.com\/TES\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/myechoproject.com\/TES\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/myechoproject.com\/TES\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/myechoproject.com\/TES\/wp-json\/wp\/v2\/comments?post=2223"}],"version-history":[{"count":5,"href":"https:\/\/myechoproject.com\/TES\/wp-json\/wp\/v2\/posts\/2223\/revisions"}],"predecessor-version":[{"id":5022,"href":"https:\/\/myechoproject.com\/TES\/wp-json\/wp\/v2\/posts\/2223\/revisions\/5022"}],"wp:attachment":[{"href":"https:\/\/myechoproject.com\/TES\/wp-json\/wp\/v2\/media?parent=2223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/myechoproject.com\/TES\/wp-json\/wp\/v2\/categories?post=2223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/myechoproject.com\/TES\/wp-json\/wp\/v2\/tags?post=2223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}