Tibetan and Chinese quick-service restaurant (QSR) chain Wow! Momo has forayed into the fast-moving consumer goods sector with its frozen momos. The Tiger Global-backed QSR chain is also mulling an expansion into categories like snacks and condiments. Wow! Momo is looking at annual revenue of around Rs 500 crore from its packaged food business in the next five years, as per co-founder and CEO Sagar Daryani.
"Our success in the Quick Service Restaurant business has taught us to be close to our consumers; and our foray into FMCG is to take this bond one step ahead. We want to be a part of every grocery order in the country," Daryani told Moneycontrol. These momos are available in vegetarian and non-vegetarian flavours-Chicken Darjeeling, Chicken Cheese, Darjeeling Veg, Masala Chicken and Corn and Cheese.
Initially, the frozen momos will be available via BigBasket in 10 major cities-- Delhi, Gurugram, Noida, Kolkata, Mumbai, Pune, Chennai, Bengaluru, Hyderabad, and Ahmedabad. These ready-to-eat momos are available in packs of 10s and 20s and are free of preservatives.
Wow! Momo's entry into the FMCG sector comes at a time when the ready-to-eat category is picking up due to the pandemic, as per BigBasket co-founder and CEO Hari Menon. In 2020, the QSR chain teamed up with Café Coffee Day (CCD) to set up kiosks in CCD stores all over India due to the nationwide coronavirus lockdown. "The lockdown has forced us to look at collaborative approach to doing business. We are looking at tying up with a few F&B brands, trying to do shop-in-shops as well as co-sharing of locations. We are also in partnership talks with hotel aggregators, other QSR chains and even telcos," Daryani noted.
Edited by Mehak Agarwal
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