Fans of Starbucks in China are about to get a whole lot more oat milk lattes and meatless pastas.
Starbucks (SBUX) is teaming up with oat milk maker Oatly and plant-based protein companies Beyond Meat (BYND) and Omnipork in mainland China, offering more options free of meat or animal products at a time when a growing number of Chinese consumers are seeking choices they perceive to be healthier.
Starting Tuesday, 4,200 Starbucks stores in China will be serving vegetarian-friendly items such as oat milk matcha lattes, lasagne made with Beyond Meat’s beef product and Asian noodle salads with Omnipork.
The move away from meat is attracting more and more big names, and now the Colonel himself is getting onboard. KFC has announced its plans to trial a plant-based chicken substitute from Beyond Meat, in a one-store, one-day limited test with an eye towards a possible national rollout across the US.
Beyond Fried Chicken, as its known, will be on the menu on August 27 at the Cobb Parkway restaurant in Atlanta, Georgia. The chickenless chicken will be available in the form of nuggets and boneless wings, which can be bought on their own or as part of a six- or 12-piece combo meal.
Shares of Beyond Meat rose 39% on Friday, one day after its first post-IPO earnings report and about a month after going public. The company now has a market cap of $8.28 billion, according to Google Finance.
The stock hit a high of $149.46 a share in late-day trading before closing at $138.65. That’s more than double where it landed after its first day of trading in early May.
Yesterday, the company reported $40.2 million in quarterly revenue, topping estimates of $38.92 million cited by Yahoo Finance, and it projects full-year revenue will reach past $210 million.
A new burger is about to hit the market. It looks and cooks like it’s made of beef. But there’s one key difference — it’s entirely plant based.
Beyond Meat, which makes meatless products, claims its latest burger is “the closest thing to meat” that it’s ever created.
The Beyond Burger will be available at one Whole Foods in Boulder, Colorado on Monday and at other stores on the East Coast soon.
It’s the result of over seven years of research that the company undertook to “understand meat” and then “rebuild” the burger in a plant-based form.