Local Gets Vocal: Wow! Momo joins hands with Café Coffee Day
Wow! Momo kiosks will be placed in CCD outlets in the country to create a wider reach and network
Wow! Momo Foods – which owns and operates two quick-service restaurant brands Wow! Momo and Wow! China – has announced its strategic partnership with homegrown coffee chain- Café Coffee Day (CDEL). This etches the brand’s 2020 vision of collaboration and co-creation. In sync with this, Wow! Momo chain is set to serve it products in all of the three traditional formats – dine-in, take away, and delivery – in select CCD outlets in the country.
The project is geared to be piloted across 30+ outlets across three major Indian cities of Bengaluru, Kolkata, and Mumbai each. In the future, Wow! Momo envisions ramping up this number to more CCD outlets across the nation.
"With the trailblazing development, Wow! Momo and Cafe Coffee Day have set the tone for QSR 2.0 in India where agility and nimble footedness will be coupled with innovative ways to serve the consumers. This partnership between the two leading homegrown QSR brands marks the beginning of a new era of collaborations and consolidation. The post-Covid-19 economy will see the formation of more of such symbiotic synergies under which major brands will combine their resources to sustain and scale their operations," the CCD said in a statement.
Speaking on the collaboration, Sagar Daryani, CEO & Founder – Wow! Momo/Wow! China, commented, “Year 2020 will be all about collaboration and hyper-bundling of experiences. We find this collaboration a perfect one under PM’s push for encouraging locally grown brands - at one hand we have a brand that redefined coffee drinking experience in the country and on the other hand it is Wow! Momo which has created a national chain and a category out of a roadside snack like MOMO. Through this partnership, we aim to push the frontiers of innovative food and beverage experience for momo- as well as coffee-lovers across India. CCD is an ideal fit for our brand as both of our menus complement each other in a deliciously satisfying way. The present development reflects our philosophy of ‘more wow every day’ which is at the core of all our initiatives.”
Café Coffee Day, which has redefined coffee drinking experience within India, owns over 1,000 outlets across the country. The entire collaboration is aimed at bringing a cohesive brand experience for its consumers and increasing the elasticity of its offering.
Speaking of the initiative, Vinay A. Bhopatkar CEO Café Coffee Day, said “Café Coffee Day, since its inception in 1996, has been a key driver for innovation. With over 24 years of serving the best home grown coffee in India, we have laid emphasis on understanding our customers and creating a right amalgamation of taste with innovation and modernity. We believe that collaborating with Wow! Momo will give us the right synergies to offer our young consumers the experiences they are looking for under the same roof and give them another reason to enjoy their favourite snack and coffee, with safety. We are optimistic that this will be a unique association paving the way for an unforgettable experience for our customers.”
"Café Coffee Day stands truly with its tagline, ‘A lot can happen over coffee’ and believes in creating a holistic experience for its customers across the country. Amidst global pandemic, while people have slowly started to adapt to the new normal, the collaboration between CCD and Wow! Momo will be a fresh start and give customers another reason to visit CCD and experience more through a single visit to their favourite CCD store," read the statement.
In 2015, Wow! Momo had raised INR 10 crore from its first backer, Indian Angel Network, the largest horizontal seed-stage platform in India. Over the years, the company would go on to become one of the Network’s most successful investee companies, with over 345 outlets across 16 cities in the country. After 18 months of the investment, the investors took a partial exit from Wow! Momo at an IRR of 50% in the subsequent round of equity funding from Lighthouse Funds at a valuation of INR 230 crore. Last year Wow! Momo was valued at over INR 860 crore and with an infusion of INR 120 crore by Tiger Global.
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