Beyond Meat is taking over China. The plant-based meat brand just launched in Alibaba supermarkets.
The company’s Beyond Burger is now available at 50 of Alibaba’s Freshippo locations across Shanghai. The meatless patties will be sold at an additional 48 locations in Hangzhou and Beijing by September.
“We know that retail will be a critical part of our success in China, and we’re pleased to mark this early milestone within a few months of our market entry,” Beyond Meat’s CEO Ethan Brown said in a statement.
Beyond Meat made its debut in mainland China in April after launching in Starbucks. The California-based company’s meatless meat is now available in more than 3,300 Chinese locations. As part of Starbucks China’s “GOOD GOOD” menu, Beyond Meat’s plant-based proteins are available in three pasta and lasagna dishes.
Yum! Brand Foods, parent brand to Taco Bell, KFC, and Pizza Hut, also partnered with Beyond Meat earlier this year. It China trialed the company’s vegan meat products in select locations of each fast-food chain in several Chinese cities.
Beyond Meat Sees Record Sales
Beyond Meat became the first vegan meat brand to IPO in October 2018.
The company’s stock soared after it announced it would be hitting Chinese store shelves. The stock now has a market value of $8.8 billion.
One reason it’s been so successful is the fact the company has been targeting the meat sector. “We really don’t focus on the plant-based meat sector as much as we focus on the meat sector itself,” Beyond Meat CEO Ethan Brown told CNBC. “That’s a $1.4 trillion industry with just incredible diversity and potential globally.”
Since debuting in Hong Kong, Beyond Meat has quadrupled its sales in the region. This is mostly thanks to the work of Green Monday. The Green Monday campaign, which promotes meatless meals once a week, recently spearheaded the launch of plant-based chicken at KFC Hong Kong.
“The majority of our patrons are meat-eaters,” David Yeung, who runs the Green Monday campaign and its flagship markets, Green Common, told Food Navigator. “The novelty, taste, and clear benefits are the main reason for trying plant-based meat.”