How Beyond Meat Is Breaking Into Fried Chicken
August 26, 2019 by Chris LangeBeyond Meat Inc. (NASDAQ: BYND) shares jumped on Monday after the company announced that it would be making its debut at KFC in Atlanta. Beyond Fried Chicken will launch at one restaurant as part of a test on August 27.
KFC turned to plant-based leader, Beyond Meat, to create a plant-based fried chicken that will appeal to fans of both Beyond Meat and KFC. Customer feedback from the Atlanta test will be considered as KFC evaluates a broader test or potential national rollout.
The restaurant will be offering a six of 12-piece nugget meal as well as boneless wings.
KFC has a history of frequently testing unique menu items as a part of the brand’s food innovation strategy, considering food trends and evaluating customer feedback to KFC’s test offerings. This limited, one-restaurant test of Beyond Fried Chicken is part of KFC’s continued commitment to understanding its consumers’ tastes and preferences.
Ethan Brown, founder and CEO of Beyond Meat, commented:
KFC is an iconic part of American culture and a brand that I, like so many consumers, grew up with. To be able to bring Beyond Fried Chicken, in all of its KFC-inspired deliciousness to market, speaks to our collective ability to meet the consumer where they are and accompany them on their journey. My only regret is not being able to see the legendary Colonel himself enjoy this important moment.
Shares of Beyond Meat traded up about 3% Monday morning to $151.51, in a 52-week range of $45.00 to $239.71. The consensus price target is $165.43.
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