Kolkata: QSR start-up Wow! Momo opens 101st outlet
The Kolkata-based start-up, which opened its first outlet in the city eight years ago, specialises in ‘momo’, a variety of dumpling popular in Tibet and several other Himalayan states.
The brand launched its 100th store in Bengaluru recently and followed it up with a celebration at its Kolkata-based flagship store (on AJC Bose Road).
Sagar Daryani, co-founder of Wow! Momo, said, “Compared to burger and pizza outlets, the momo market is under-penetrated. We are opening store a lot bigger than what we would have dreamed even five years ago. For us, the ‘mantra’ is growth with consolidation and continued innovation.”
According to the company, it sells over two lakh pieces of momos per day across the country and offers 16 flavours of momos in 10 different variants, including chocolate momos.
After Mo-burgers, the company plans to introduce the Mo-Roll in March, said Daryani.
On the business front, the company plans to expand further in Kolkata, Delhi NCR and Bengaluru this year. Expansion into the Chennai market is also on the cards.
It also plans to expand into new markets such as Mumbai and Hyderabad.
“But we don’t want to do too many cities at a time,” said Daryani. “We want to grow in cities where we already have a presence,” he said.
The brand is also exploring the option of exporting packaged frozen momos as well as package its specially prepared momo sauces.
The company received its first round of funding in 2015 from IAN angel investors Sanjeev Bhikchandani, founder of Naukri.com (Info Edge), who was present at the launch; Saurabh Srivastava, IAN co-founder; and Ashvin Chadha, a serial entrepreneur.
Wow! Momo has launched its 101st store in Kolkata, which is housed in a former city icon, the double-decker bus, at Nicco Park.
(Reporting by Manjima Bhattacharya)
Images: Wow! Momo Facebook
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