Sagar Daryani, one of the founders and the CEO of Wow Momo feels that he has miles to go. Daryani’s company has 600 company owned and operated stores across 30 cities and directly employs 6,000 people. They plan to open 230 stores and employ 1200 to 1500 more people by the end of the financial year.
“We will continue to open company-owned, company-operated stores as of now—the goal is to get to a particular number, which we are revealing to the public. That is when we are hopefully going to look at an IPO. I think we’ve been very clear with our thought process that for us, Wow is the brand we want the one share of the stomach—Wow Momo, Wow China, Wow Chicken are all verticals, but the same brand,” Daryani said.
He revealed that the company was soon to launch their fourth vertical called Wow Kulfi.
“We have a format now called Wow Eats which has all the three brands together, with one store in Chennai and one in Hyderabad. We are launching our flagship store in Kolkata, which is a 6000 square feet 250 seater space at New Market, by next month. The goal is to open before Durga Puja,” he said.
The plan was to open ten of the larger format Wow Eat stores and see the stores’ profitability and then possibly change strategies a bit. Currently they are looking at opening 20 small box format stores a month. This may change to five big and five small stores; but that decision would only happen after opening and looking at the P&L.
