Mama Mia, the homegrown gelato brand from Calcutta, has chalked out plans to widen its footprint after receiving a cash infusion from a Mumbai-based firm.
Sensing new business opportunity from food delivery apps, the company will set up 100 delivery service outlets, mostly in Bangalore and Mumbai, followed by Delhi, Hyderabad and Chennai.
“We are witnessing a remarkable switch in the food & beverage business. Instead of going out to the outlet, consumers are preferring to order online and eat wherever they are. Mama Mia is seeing 100 per cent rise in online sales quarter on quarter,” Akshat GOING PLACES Singhania, director of Mama Mia Foods, said.
The Calcutta company offloaded a 20 per cent stake in favour of Pareto Capital, an investment banking firm from Mumbai, and a clutch of high net worth individuals, for an undisclosed amount.
Mama Mia said it would use the funding to extend its footprint through delivery service outlets even as signature outlets, such as the one located on Ballygunj Circular Road in South Calcutta, would also come up in Bangalore and Mumbai as part of their branding strategy.
“The delivery service outlet is an asset light model. They do not require being present in expensive high street locations where rents are high. Consumers would not be able to see the outlets on the go but they will get to see them on the app. The idea is to provide complete coverage through food delivery apps,” Singhania said.
The company has 25 touch points, including eight delivery service outlets, in Calcutta and Bangalore.
Source: The Telegraph