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Kolkata-based QSR start-up, Wow! Momo has launched its sister brand Wow! China, a fast-food Chinese cuisine format. The brand opened its first outlet in Kolkata in December.
Both Wow! Momo and Wow! China are owned by Wow! Momo Foods Private Limited and the company is eyeing a turnover of ₹200 crore by the end of this fiscal. It plans to invest ₹12 crore to set up 40 Wow! China outlets across cities such as Kolkata, Mumbai, Chennai and Bengaluru.
Wow! Momo Foods Private Limited reported a turnover of ₹120 crore in FY19, and it claimed to be EBITDA positive.
According to Sagar Daryani, CEO and co-founder, Indian Chinese or Chinese food that will suit Indian palates will be the focus of the company’s new offering. “Like Wow! Momo, the new brand format shall operate out of kiosks, food court outlets in malls & tech parks, high-street locations and through a cloud kitchen model,” he was quoted as per a press release by the company.
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