Fast food restaurants restaurant chain Wow! Momo is set to launch a new brand, Wow! China. The restaurant chain has plans to enter Mumbai, Chennai and Bengaluru before the end of this year.
The Kolkata-headquartered company is building a facility at its home base with an eye to enter the packaged foods market. Along with 40 Wow! China outlets, the company plans to launch in Bengaluru through cloud kitchens. Sagar Daryani, the CEO of Wow! Momo, told ET that Wow! China will have a higher margin because of the ticket sizes.
Founded in 2008 by Daryani and Binod Homagai, Wow! Momo was valued at Rs 300 crore in early 2018. Wow Momo! has picked up Rs 44 crore in a Series B round.
Source: ET
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