Now Wow! Momo will sell not only momos but also cup noodles!
Quick service Restaurant (QSR) brand Wow! Momo is now going to add instant cup noodles to its portfolio in an attempt to establish itself in the country's fast-growing FMCG sector. The company aims to make its mark in the Rs 14,000 crore noodles industry with many Desi-Asian flavors like Kho Suey, Thukpa and Chinese Bhel.
2 crore revenue expected every month from cup noodles
According to a report by CNBCTV18, Sagar Daryani, CEO and founder of Wow! Momo, said, this is a very important step which will help the company to expand its food verticals. It is expected that the launch of this new product can lead to a huge jump in the company's revenue.
The revenue of its FMCG business has already seen a 100 percent increase year-on-year. Wow! Momo expects to generate a revenue of Rs 2 crore per month with the addition of Cup Noodles to its product portfolio. The company aims to generate a revenue of Rs 8 crore per month in this segment within the next two years, making it a Rs 100 crore ARR business.
10 lakh momos will be made every day at the maharashtra plant
Strategic partnerships with airlines have further expanded the reach of the brand and product. The company's CEO further said, "Wow! Noodles is currently available on Akasa air and air india Express and will soon be made available on SpiceJet flights as well." To support its rapidly growing FMCG business, Wow! Momo is investing in its infrastructure. A new production unit is being built in Taloja, Maharashtra. 10 lakh momos will be made every day at this plant.
