BEYOND MEAT® ANNOUNCES RETAIL ENTRY IN MAINLAND CHINA
Partnership with Alibaba Group’s Freshippo marks the first introduction of Beyond Meat products in supermarkets in mainland China
BEIJING, China, July 1, 2020 - Following high profile foodservice launches with Starbucks and Yum China, Beyond Meat, Inc. (NASDAQ: BYND) today announced the brand's retail entrance in mainland China. Starting this weekend, the plant-based Beyond Burger® will launch in 50 Freshippo stores in Shanghai. The collaboration with Alibaba Group’s Freshippo, a cutting-edge new retail platform, marks the first rollout of Beyond Meat products in supermarkets in mainland China.
After offering the Beyond Burger in 50 Shanghai Freshippo stores throughout the summer, Beyond Meat plans to expand its Beyond Burger to an additional 48 Freshippo stores in Beijing and Hangzhou starting in September 2020. The Beyond Burger will also be available on the Freshippo mobile app so customers can have delicious plant-based meals delivered on demand and enjoy the product with their friends and family from the comfort of their own homes.
Ethan Brown, founder and CEO of Beyond Meat, said of the partnership, “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. Following recent foodservice announcements with Starbucks, KFC, Pizza Hut and Taco Bell in China, as well as our distribution partnership with Sinodis, expanding into retail is the natural next step in building our market presence. We are proud to partner with Alibaba’s Freshippo, a dominant player in the retail space, to introduce our hallmark Beyond Burger to home cooks throughout China.”
Jiayu Zhao, Senior Director and Head of Merchandising of Freshippo said, “Beyond Meat and Freshippo share a vision of bringing innovative shopping experiences and products to our customers. Freshippo’s New Retail technology will enable plant-based meat to grow in China by meeting the modern Chinese consumer’s expectations whether they are shopping online or offline. We have seen a growing interest in plant-based meat among our shoppers and look forward to offering more Beyond Meat products in the future.”
In Freshippo locations around Shanghai, the Beyond Burger will be located in the frozen meat section, offering Chinese customers more choice when it comes to their protein options and greater visibility for plant-based meat in China. Fans looking to try the Beyond Burger can visit the Freshippo Jinqiao store on Saturday, July 18 to enjoy a live cooking demo with chef Frank Chen and free Beyond Burger samples, giveaways and more.
The Beyond Burger: A Sizzling Sensation
Making a positive nutritional and environmental impact are at the core of Beyond Meat’s mission. The plantbased Beyond Burger is designed to look, cook and taste like a minced beef burger but is made from simple, plant-based ingredients without soy or gluten. The Beyond Burger patty delivers a juicy, satisfying burger eating experience, without the compromise. Compared to 80/20 minced beef, per 113g the Beyond Burger patty offers:
• A rich source of protein with 20g per 113g serving, derived from peas, mung beans and rice
• 35% less saturated fat
• Less total fat
• More iron
• No antibiotics or hormones
The Beyond Burger is not just limited to burgers— there are a whole host of recipes that can utilize the revolutionary plant-based meat to suit the needs of Chinese consumers. Whether stirred in with fried rice or noodles, sautéed with vegetables, or packed into a dumpling, the Beyond Burger is flexible enough to fit any cuisine and any palate.
A 2018 Life Cycle Assessment conducted by the University of Michigan found that producing the U.S. Beyond Burger patty uses 99% less water, 93% less land, 46% less energy and emits 90% fewer greenhouse gas emissions than producing a ¼ lb. U.S. beef burger patty. By building meat from plants, Beyond Meat is on a mission to improve human health, positively impact climate change, conserve natural resources and respect animal welfare. This mission is resonating with consumers globally who are looking for diversified protein options that are more nutritious, sustainable and humane.
About Beyond Meat
Beyond Meat, Inc. (NASDAQ: BYND) is one of the fastest growing food companies in the United States, offering a portfolio of revolutionary plant-based meats. Founded in 2009, Beyond Meat has a mission of building meat directly from plants, an innovation that enables consumers to experience the taste, texture and other sensory attributes of popular animal-based meat products while enjoying the nutritional and environmental benefits of eating its plant-based meat products. Beyond Meat’s brand commitment, Eat What You Love™, represents a strong belief that by eating its portfolio of plant-based meats, consumers can enjoy more, not less, of their favorite meals, and by doing so, help address concerns related to human health, climate change, resource conservation and animal welfare. Beyond Meat’s portfolio of plant-based proteins were available at approximately 94,000 retail and foodservice outlets in 75 countries worldwide as of March 28, 2020. Visit www.BeyondMeat.com and follow @BeyondMeat, #BeyondBurger and #GoBeyond on Facebook, Instagram and Twitter.
Forward Looking Statements
Certain statements in this release constitute “forward-looking statements.” These statements are based on management’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results. These forward-looking statements are only predictions, not historical fact, and involve certain risks and uncertainties, as well as assumptions. Actual results, levels of activity, performance, achievements and events could differ materially from those stated, anticipated or implied by such forwardlooking statements. While Beyond Meat believes that its assumptions are reasonable, it is very difficult to predict the impact of known factors, and, of course, it is impossible to anticipate all factors that could affect actual results. There are many risks and uncertainties that could cause actual results to differ materially from forward-looking statements made herein including, most prominently, the risks discussed under the heading “Risk Factors” in Beyond Meat’s Form 10-Q for the quarter ended March 28, 2020 filed with the U.S. Securities and Exchange Commission (“SEC”) on May 12, 2020, the Company’s Annual Report on Form 10-
K for the year ended December 31, 2019 filed with the SEC on March 19, 2020, as well as other factors described from time to time in Beyond Meat’s filings with the SEC. Such forward-looking statements are made only as of the date of this release. Beyond Meat undertakes no obligation to publicly update or revise any forward-looking statement because of new information, future events or otherwise, except as otherwise required by law. If we do update one or more forward-looking statements, no inference should be made that we will make additional updates with respect to those or other forward-looking statements.
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