Starting with an investment of 30,000, fast food chain Wow! Momo has launched its 101st outlet in Kolkata – in the presence of Sanjeev Bhikchandani, founder and executive vice chairman of Info Edge and one of the lead investors in Wow! Momo. The company’s first store was in Kolkata and they have gone from 43 stores to 101 in just the past 18 months alone.
“We don’t want to do too many cities at a time. We believe that we are the kings of Kolkata & want to now grow in cities where we are already present & become the kings of Delhi NCR, Bangalore rather than doing too many newer cities at a time. At present, we have 50 plus stores in Kolkata and we intend to reach 100 plus stores here,” said Sagar Daryani, Co-Founder, Wow! Momo. The company is also intending to enter new markets such as Hyderabad & Mumbai.
Currently the brand serves 8 cities which include Kolkata & suburbs, Delhi, Gurgaon, Noida, Bangalore, Chennai, Kochi & Pune. Wow! Momo is also looking to export packaged Frozen Momos abroad and also intends to package its specially prepared momo sauces & make them available across the shelves in Modern trade. By March the brand is looking to launch a new product called a Mo-Roll (a momo roll) Sagar reveals.
Sagar added, “If you compare us with burgers and pizzas, we’re still really underpenetrated compared to what the demand for Momos in India is. We’re opening stores a lot bigger than what we would have dreamed even five years ago so the pent-up demand is definitely there. For us the mantra is growth with consolidation & continued innovation. We are one of the few profitable startups and continue to remain the same throughout this journey.”