Wow! Momo Foods is a leading quick-service restaurant (QSR) chain that was founded in Kolkata, India, in 2008. The company specializes in momos, a type of steamed dumpling that is a popular street food in the Indian subcontinent. Wow! Momo has expanded rapidly over the years and now operates over 665 outlets across India, Nepal, and Bangladesh.
The company has grown its portfolio by introducing new brands like Wow! China, which serves Chinese cuisine, and Wow! Chicken, which specializes in fried chicken. By consolidating all of its brands under the Wow! Eats platform, Wow! Momo aims to streamline operations, reduce costs, and improve customer experience.
Sagar Daryani, CEO & Co-Founder, Wow! Momo Foods, said, “We believe that consumers want diversity of taste through unity of window and the future is not about owning a share of the marketplace rather it is going to be owning a share of the stomach through multiple branded occasions and Wow! Eats brings these multiple occasions of eating out to a single place.”
“The pilot is targeted at two regions – East India and South India as these two are our strongest markets are we are highly profitable in these markets. The app will be launched around the end of Q1 in the next financial year. The consumers will be able to earn and burn loyalty points both online and offline after the launch of the app.”
“In the next 24 months, we plan to open 250 more outlets and we will be entering 5-7 new cities. Apart from this, in the next fiscal year, our focus will be more on profitability. At the moment, the company is on single-digit profitability, we want to extend that to double-digit profitability in the next 24 months.”
The Wow! Eats format is designed to offer a diverse menu that caters to a wide range of tastes and preferences. Customers can order from any of the three brands using a single app, making it more convenient to access their favorite dishes. Wow! Eats outlets are also designed to offer a comfortable and inviting ambiance, with seating arrangements that are ideal for families and groups.
In addition to its offline expansion, Wow! Momo Foods has been investing in digital technology to enhance its online ordering and delivery capabilities. The company has launched its own mobile app, which allows customers to order food from their smartphones. It has also partnered with leading food delivery platforms like Swiggy and Zomato to reach a wider audience.
Wow! Momo Foods has received several rounds of funding from investors like Tiger Global, Lightbox Ventures, and Lighthouse Funds, among others. The company has raised over $60 million to date, which has helped it expand its presence in new cities and launch new products. With its ambitious growth plans and innovative approach to QSR, Wow! Momo Foods is poised to become a major player in the Indian food industry.
