KFC, Pizza Hut to sell Beyond Meat products at restaurants in China
China represents big market for plant-based meat maker
Beyond Meat is partnering with fast-food chains KFC and Pizza Hut to sell its plant-based meat replacements in China.
The companies haven’t announced specific details yet, but new products are scheduled to launch in June at the restaurants’ Chinese locations.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BYND | BEYOND MEAT INC. | 4.89 | -0.12 | -2.40% |
“We’re proud to expand our partnership with KFC into China, one of their largest markets worldwide, as well as introduce a new partnership with Pizza Hut in China,” a Beyond Meat spokesperson told FOX Business. "We'll be sharing more details soon."
A KFC store in China during the Beyond Meat test. (Yum China Holdings)
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Both chains are owned by Yum China Holdings.
Beyond Meat has been making a push into new markets. The company already announced a limited test last month at Chinese KFC restaurants, and Starbucks has also recently launched a plant-based menu in China that features Beyond Meat products.
KFC sold plant-based chicken nuggets in the trial last month, and Yum China said pre-sale coupons for the first day sold out in less than an hour.
KFC's branding for the Beyond Meat meatless chicken nuggets. (Yum China Holdings)
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“The test of KFC's Plant-Based Chicken Nuggets caters to the growing market in China for delicious alternative meat options on the go,” Yum China CEO Joey Wat said in a statement last month. “We believe that testing the plant-based chicken concept with one of our most iconic products will take this increasingly popular meatless trend to a new level.”
Meatless protein makers like Beyond Meat and Impossible Foods have eyed China as key to their future growth. Beyond Meat hired a former Tesla executive, Sanjay Shah, last year to lead the company’s overseas expansion.