Wow! Momo targets 500 stores in 20 cities in 3 years
By Satarupa Chakraborty | April 05, 2018
India’s leading QSR chain palns to expand its reach to 9 more cities while reaching a mark of 500 stores in 3 years. Wow! Momo will also develop their in-store digital interfaces and introduce newer store formats in near future.
One of the leading fast food chain of India, Wow! Momo plans to reach a mark of 500 stores spreading their retail network to 9 more cities within 3 years. The chain is also looking at discovering more retail formats and tie-ups with petrol pumps to expand their reach. Currently Wow! Momo has 6 formats – kiosks, food court QSR, high street mini and maxi outlets, shop-in-shop and Wow Momo-on-Wheels and has presence through 161 stores in 11 cities. The fast food chain will also bring its own ERP to increase customer interaction and satisfaction soon.
In an interview with Retail4growth, Sagar Daryani, Co-founder and CEO, Wow! Momo told, “Our biggest aim is to spread our wings well in each city that we will enter. Upon making a debut in a new city, our business plan follows a path of entering through a mall outlet and then followed by hotspots, neighbourhood markets and then high streets. Therefore, we may add 9 more cities in our retail expansion plan but the planned number of stores will be much more than double of what we already have.”
Wow! Momo received Series B funding of INR 44 Crores led by Lighthouse Funds and IAN at a valuation of INR 230 crores last year.