Sagar J. Daryani, the co-founder and CEO of Wow! Momo has transformed the quick service restaurant (QSR) landscape in India. From a modest kiosk in Kolkata, he has built Wow! Momo into the country’s largest indigenous QSR chain, with over 450 outlets across 20+ cities and a valuation of $270 million as of 2022. His journey from a college student to a pioneering entrepreneur exemplifies vision, innovation, and resilience. Daryani’s story is not just about creating a successful brand but also about generating employment and dreaming of a better India.
Born and raised in Kolkata, Sagar J. Daryani attended St. James School for his schooling and later pursued a B.Com (Hons) at St. Xavier’s College, Kolkata. During his college years, he met Binod Homagai, his future co-founder. The two bonded over their shared love for momos, the steamed dumplings popular in Kolkata’s food culture. This passion for food and entrepreneurship laid the foundation for their future venture.
Entrepreneurial Journey
In 2008, at the age of 21, Daryani and Homagai took a bold step. With just Rs. 30,000, they launched Wow! Momo, setting up their first outlet as a 6’ by 6’ kiosk inside Spencer’s Retail Ltd. in Kolkata (NRAI). The early days were far from easy. As Daryani and Homagai recall, “We faced several problems that knocked us down, but we came back stronger every time”. Rejecting job offers during campus placements, they poured their energy into building a brand that would redefine fast food in India.
Business Growth and Innovations
Wow! Momo’s growth is a testament to Daryani’s innovative approach. Starting with traditional momos, the brand expanded its menu to include 11 different flavors, available steamed, fried, or pan-fried. Daryani and his team introduced unique offerings like Sizzler Momos, Mogurg, Momo Chats, and even a dessert called Chocolate Momo. These innovations made momos appealing to a broader audience and set Wow! Momo apart in a competitive market.
The business model evolved to include kiosks, food court outlets, Shop-in-Shop models, and high street QSRs, enabling rapid expansion. By 2024, Wow! Momo operates under three brands: Wow! Momo, Wow! China, and Wow! Chicken, launched in 2021, caters to diverse culinary preferences. The company now produces over 300,000 momos daily, showcasing its scale and efficiency.
Leadership and Vision
As CEO, Sagar J. Daryani oversees brand expansion, marketing, and retail operations. His leadership has been pivotal in scaling Wow! Momo while maintaining its core values. Passionate about brand building, Daryani dreams of an India with 100% employment. “I dream of an India where employment is at 100%,” he says, reflecting his commitment to societal impact. Under his guidance, Wow! Momo employs over 6,000 staff, including 150 specially abled individuals from NGOs, demonstrating his dedication to inclusive growth.
Daryani’s influence extends beyond his company. He has mentored several food and beverage start-ups, some of which are now operationally profitable. He also serves as a guest faculty at business schools, where students study Wow! Momo’s business model as a case study in entrepreneurship.
Awards and Recognitions
Daryani’s contributions have earned him and Wow! Momo has numerous accolades. The company received the National Entrepreneurship Award 2016 from the Ministry of Skills Development and Entrepreneurship, Govt of India; the Images Most Admired Indian Origin Quick Service Restaurant Chain of the Year 2018, and The Economic Times 40 Under Forty – India’s Hottest Business Leader 2019. In 2014, Daryani was conferred the ‘50 Most Talented Retail Professionals of India Award’. These awards highlight his role as a trailblazer in the QSR industry.
Social Impact and Future Vision
Beyond business success, Daryani is driven by a desire to give back to society. He envisions opening 50 cancer hospitals, fully funded by his venture, to support patients who cannot afford treatment. This ambitious goal reflects his commitment to using business as a force for good. Additionally, Wow! Momo’s employment of over 6,000 people, including specially abled individuals, underscores his dedication to creating opportunities for all.
Sagar J. Daryani’s journey is a remarkable story of passion and perseverance. From starting a momo kiosk with Rs. 30,000 to building a $270 million brand, he has shown that determination and innovation can lead to extraordinary success. His leadership has not only made Wow! Momo India’s largest indigenous QSR chain but also set a benchmark for entrepreneurial excellence. As he continues to expand his business and pursue his social vision, Daryani’s legacy will inspire future generations of entrepreneurs.
