Sushant Goel Transitions to Board; Third Wave Coffee Gears Up for New CEO

Third Wave Coffee has announced a significant leadership change. Sushant Goel, the current Chief Executive Officer, will be transitioning to a role on the Board. Meanwhile, Rajat Luthra, previously the CEO of Kentucky Fried Chicken (KFC) India & Nepal under Devyani International Limited, will take over as the new CEO effective from the first quarter of the fiscal year 2024-2025.

Sushant Goel will continue to contribute to the growth and advancement of the rapidly expanding Indian coffee brand, while Rajat Luthra will bring his extensive experience to steer Third Wave Coffee towards its next phase of success.

“As CEO and Co-founder, I have had the privilege of leading the company through its formative years and I am incredibly proud of the journey that we have embarked on. The brand is ready to embark on its next leg of growth. Now, as I transition to the Board, I am excited to continue contributing towards our vision and growth from a different vantage point. Rajat is a veteran in the QSR industry, and I am filled with optimism on what the future holds for Third Wave Coffee under his stewardship.” said Sushant Goel, Co-founder & CEO, Third Wave Coffee.

Since its establishment in 2016, Sushant, alongside co-founders Ayush Bathwal and Anirudh Sharma, has effectively expanded the company to over 100 outlets across India.

Serving as CEO, Sushant played a pivotal role in shaping the company's business strategy and establishing strong connections with investors.

Now, transitioning to a board member role, Goel will persist in directing the company's strategic trajectory and innovating new ventures for Third Wave Coffee.

Rajat Luthra, the recently appointed CEO, brings almost thirty years of substantial experience in the Fast-Moving Consumer Goods (FMCG) and Quick Service Restaurant (QSR) industries.

Over the past decade, he has held the position of CEO at Kentucky Fried Chicken (KFC) India & Nepal, operating under Devyani International Limited.

Since its inception in 2016, Third Wave Coffee has experienced rapid growth, evolving from a single-store roastery in Koramangala to a network of over 100 stores spanning 8 cities throughout India.

Within a brief timeframe, the company has ascended to become one of the foremost coffee brands in India, actively competing with international giants in the market. Notably, Third Wave Coffee recently secured US$ 35 million in Series C funding, with Creaegis and existing investor WestBridge Capital participating in the investment round.