With nearly three decades of expertise in the fast-moving consumer goods (FMCG) sector and quick-service restaurants (QSRs), Luthra is poised to lead Third Wave Coffee into its next phase of growth and innovation
Third Wave Coffee, a prominent specialty coffee chain in India, has unveiled its new CEO, Rajat Luthra, as part of its strategic leadership transition plan. The current CEO, Sushant Goel, who is also one of the co-founders of the chain, will transition to a board member position in early FY25.
Established in 2016 by co-founders Sushant Goel, Anirudh Sharma, and Ayush Bathwal, Third Wave Coffee has rapidly expanded its presence, challenging competitors such as Starbucks and Barista in the Indian market.
Rajat Luthra brings with him a wealth of experience, having served as the former CEO of KFC India & Nepal under Devyani International. With nearly three decades of expertise in the fast-moving consumer goods (FMCG) sector and quick-service restaurants (QSRs), Luthra is poised to lead Third Wave Coffee into its next phase of growth and innovation.
In a statement regarding the transition, Third Wave Coffee highlighted that Sushant Goel will remain actively involved in shaping the company’s strategic direction and fostering new initiatives as a board member.
Commenting on the appointment, representatives from investor companies Westbridge Capital and Creaegis expressed confidence in Sushant Goel’s continued guidance and strategic contributions. They also warmly welcomed Rajat Luthra, emphasising his extensive experience with scaling QSRs and the fresh perspective he brings to the leadership team.
Since its inception, Third Wave Coffee has evolved from a single store in Koramangala to over 100 outlets across eight cities in India. The company’s growth trajectory has been supported by significant investments, including a USD 35 million Series C funding round last year led by Creaegis and WestBridge Capital. Prior to this, in May 2022, WestBridge Capital spearheaded a USD 21 million Series B round with participation from various angel investors.
With the appointment of Rajat Luthra as CEO and the continued involvement of Sushant Goel in a board capacity, Third Wave Coffee is poised to maintain its position as a leader in India’s burgeoning specialty coffee scene while exploring new avenues for growth and innovation.
