Tiger Global-backed Wow Momo has partnered with Café Coffee Day (CCD) to sell its products across select outlets of the coffee chain. The move will help both companies increase their revenue at a time when the food and beverages industry is struggling due to the novel coronavirus, or COVID-19, pandemic.
In a joint statement, Wow Momo said kiosks will be placed at CCD outlets to create a wider reach and network. The products will be available for dine-in, take away and delivery.
A pilot has taken place in over 30 outlets across Bengaluru, Kolkata and Mumbai. In future, it will be expanded to more CCD outlets across the nation.
The post COVID-19 economy will see the formation of more such symbiotic synergies under which major brands will combine their resources to sustain and scale up their operations.
"2020 will be all about collaboration and hyper-bundling of experiences. 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 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," said Sagar Daryani, CEO and Founder, Wow! Momo/Wow! China.
CCD has over 1,400 outlets across the country. Speaking on the initiative, Vinay A Bhopatkar CEO, CCD, said, "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."
In 2015, Wow! Momo had first raised Rs 10 crore from Indian Angel Network. It currently has over 345 outlets across 16 cities in the country and claims to be have a valuation of Rs 860 crore.