QSR chain Wow! Momo opens 101st outlet in Kolkata, Intends to add 60 plus outlets by year end across India

QSR chain Wow! Momo opens 101st outlet in Kolkata, Intends to add 60 plus outlets by year end across India
Kolkata, January 19th, 2017: Beginning its journey from a small outlet and an initial investment of 30,000, fast food chain, Wow! Momo seems to have found a new recipe for success. The startup launched its 101st outlet in the city today, in presence of Sanjeev Bhikchandani, founder and executive vice chairman of Info Edge and one of the lead investors in Wow! Momo. The company opened its first store in Kolkata 8 years ago, and has since expanded across the country, increasing its store number from 43 to 101 in the past 18 months alone.
?People say, how many momo shops you will have, but actually 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. Our mission is to be India's version of a Mc Donald?s and become a global brand.? Commented Sagar Daryani, Co-Founder, Wow! Momo.
The company plans to expand rapidly in Kolkata, Delhi NCR & Bangalore for this year with small expansion in Chennai as well. Before the beginning of the next fiscal, the brand intends to enter into newer markets such as Hyderabad & Mumbai. "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.? Added Sagar.
Wow! Momo has invested heavily in revamping its stores and expansion in the country. The brand is currently serving these little pockets of delights in 8 cities which include Kolkata & suburbs, Delhi, Gurgaon, Noida, Bangalore, Chennai, Kochi & Pune. Appealing to the various tastes of people, today, the startup sells more than 2 lakh momos every day. The Brand is also exploring 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. "Innovation in momos is our ultimate USP & the next new product to be launched nationally by March is a Mo-Roll (a momo Roll)" reveals Sagar.
Mr. Saurabh Srivastava, Co-Founder at IAN and one of the investors of Wow! Momo added ?Wow! Momo is one of the most exciting startups with promising growth in the QSR sector. They have been growing exponentially and have managed to remain profitable in the competitive market. This business is a volumes game and they have been constantly innovative not only in food but also in operations with strong cost control system to avoid leakages"
The company received its first round of funding from IAN in 2015 from Angel Investors Sanjeev Bhikchandani, Founder of Naukri.com (Info Edge), Saurabh Srivastava, Co-Founder at IAN and Ashvin Chadha, a serial entrepreneur, angel investor and Venture Capitalist. Accoridng to the investors, Wow! Momo is one of the biggest valuations received by any Quick Service Restaurant chain in India.
About the Brand ? Wow! Momo
Wow! Momo is one of the leading QSR brands selling over 2 lakh pieces of momos per day across the country & providing employment to around 950 people. They offer as many as 16 flavors of momos available in 10 different & innovative variants. The brand?s mission is to be India?s version of a Mc Donalds soon & spread its wings in global market.
For further details, please contact:
Genesis Burson-Marsteller
Tripti Sharma
Mobile: + 91 7838350189 | E-mail: tripti.sharma@bm.com

Company :-wow momo

User :- Pooja Mitra

Email :-mitrapooja.2@rediffmail.com

Phone :---

Mobile:- 7838-350189

Url :- https://en.wikipedia.org/wiki/Wow!_Momo