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Ready-to-eat momo brand Prasuma Momos is expecting a 20-22 per cent growth in sales on a month-on-month basis backed by its diversification into newer geographies and launch of newer product variants.
According to Lisa Suwal, Chief Growth Officer, Prasuma Momos, since its launch about 18 months ago, the brand is now available in 70-odd cities across the country. Plans are afoot to increase its presence by venturing into newer towns and cities.
“We are currently available across 70 cities, we plan to scale this up to 140 by March 2022 and then to 200 cities by the end of next year. We are expecting 20-22 per cent growth in sales on a month-on-month basis,” Suwal told BusinessLine .
Smaller towns drive sales
The company has been following an omni-channel approach and its products are available across modern trade, general trade and e-commerce platform. The momos are currently available across 2,500 stores and the company plans to increase it to 25,000 stores in the next two years.
Some of its delivery partners include Nature’s Basket, Walmart and Bigbasket among others. The key markets include Delhi NCR, Mumbai, Pune, Hyderabad, Kolkata and Chandigarh.
“There is a good demand coming in from the Tier-II and Tier-III markets and we plan to make ourselves available through omni channel platform,” she said.
There has been a steady rise in the share of sales through e-commerce platform in the wake of the pandemic accounting for nearly one-third of the company’s total sales.
Momo market size
Momo, which is considered to be the No:1 street food in India, is estimated to be close to $2.7 billion market. Nearly 97 per cent of this is unorganised.
However, with the pandemic driving greater consumer awareness for healthy hygienic food, this is likely to change. There is expected to be greater preference among consumers for organised sector, she said.
The company, which currently sells chicken, pork, mutton, and veg momos, plans to launch several new variants by the end of this year.
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