Third Wave Coffee has announced the appointment of Rajat Luthra as its new Chief Executive Officer (CEO), effective the first quarter of FY25.
Luthra’s appointment comes as part of a strategic transition, with Sushant Goel, the current CEO and co-founder, stepping into a board member role to continue influencing the brand’s strategic direction and development.
Rajat Luthra brings to Third Wave Coffee a wealth of experience from his tenure as the CEO of KFC India and Nepal (Devyani International), where he led the fast-food chain for a decade. Luthra’s background spans three decades in the Fast-Moving Consumer Goods (FMCG) and Quick-Service Restaurant (QSR) sectors, making him a seasoned veteran poised to steer Third Wave Coffee through its next phase of growth and innovation.
Third Wave Coffee, established in 2016 by Sushant Goel, Ayush Bathwal, and Anirudh Sharma, has made a significant mark on India’s coffee scene. The specialty coffee chain boasts over 100 outlets across eight cities, offering a quick-service restaurant model that emphasizes high-quality coffee and customer experience. The leadership transition aims to build upon this foundation, with Luthra at the forefront of driving expansion, bolstering the supply chain, enhancing capabilities, and leveraging technology to further the brand’s reach and influence.
The coffee chain’s recent $35 million Series C funding round, led by Creaegis with participation from existing investors, underscores the brand’s commitment to growth. The funds are earmarked for nationwide expansion, supply chain improvement, capability enhancement, and technological investments.
Representatives from Westbridge Capital and Creaegis expressed their gratitude to Sushant Goel for his instrumental role in Third Wave Coffee’s journey. They also welcomed Rajat Luthra, highlighting his extensive experience with QSRs at scale and looking forward to the fresh perspective and leadership he will bring to Third Wave Coffee.
This appointment signifies a pivotal moment for Third Wave Coffee as it seeks to expand its footprint in the Indian coffee market and beyond, promising an exciting future for coffee enthusiasts and the brand alike.
