Can WOW! Momo Scale-up Pan-India without a Franchising Model?
| Case Code: LDEN206 Case Length: 8 Pages Period: 2008-2023 Pub Date: 2023 Teaching Note: Available |
Price: Rs.300 Organization : Wow Momo Foods Pvt Ltd Industry :Foodservice Countries : India Themes: Growth Strategy, Entrepreneurship, RetailTech,Brand Extension |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
On September 8, 2022 Wow! Momo, a Quick-service restaurant (QSR) chain received more than US$15 million from a mid-market private equity firm OAKS Asset Management as part of the first tranche of its Series D round of funding. Wow! Momo was founded by two friends Sagar Daryani (Daryani) and Binod Homagai (Homagai), both graduates of St. Xavier’s College, Kolkata. They started out with a small outlet with an initial investment of INR30,000 in 2008. The first stores were kiosks inside Spencer’s Retail in Gachtala Tollygunge in south Kolkata and Big Bazaar hypermarkets, Kolkata. These were taken on rent for a month at an 18% revenue share in August 2008, cementing the way for food outlets to be opened at commercial locations such as malls and tech parks. The QSR chain had over 425+ outlets across 19 major cities of the country as of February 2022 and had three brands –Wow! Momo, Wow! China, and Wow! Chicken..
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