Momos are delicious and flavourful, and equally interesting and engaging is the life story of Sagar Daryani, the founder and CEO of the food chain Wow Momo, who has elevated the momo business in India.
In collaboration with his classmate Binod Homagai, Daryani established Wow Momo on August 29, 2008, during the final years of his graduation at St. Xavier's in Kolkata.
Beginning with a small kiosk in Kolkata, they turned a plain idea into a successful business. Despite family opposition, Daryani, at the tender age of 21, used his meagre investment of Rs 30,000, 1 table, and 2 part-time cooks to carve a Rs 2000 crore company.
They worked on customer feedback during the initial years. As its popularity and market soared, WowMomo expanded and diversified by establishing kiosks in several commercial locations such as tech parks, malls, and hypermarkets across India. Presently, the company owns 250 stores annually, and aspires to turn it to 350.
With a staggering valuation of Rs 2130 crore, WowMomo has generated Rs 375 crore, with 52 per cent ownership held by the founders, promoters, and workers. The company's monthly revenue crossed Rs 40 crore, and in the previous fiscal year, it made Rs 220 crore. In FY 2023, it aspired for a topline of Rs 450 crore.
WowMomo sells 6 lakh momos daily, boasting 800 stores across 26 states, and aims to open 3000 stores by the end of the year.
