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Beyond Meat Reports Growth In Shares As Yum! Brands, Inc (NYSE:YUM) Tests Plant-Based Chicken

Beyond Meat announced partnership struck with KFC. This business alliance will see the business guru add the plant-based fried “chicken” to its mouth-watering menus. The impact has been a massive one. In the early trading periods, the shares of the company shot up by almost 6%. A short while back, KFC had announced that it would test the plant-based fried chicken. It would test the products in all the stores belonging to Beyond Meat.

Conducting the tests

However, one company official has revealed that a customer will have to visit the store in Atlanta to buy faux-meat chicken. This will be the only store stocked with this particular product.KFC is still in talks on whether or not to bring the new menu product to more locations. Customers have a say in the matter, and their opinions after testing the products will count towards the company’s decision. The tests conducted in the UK were for vegetarian fried chicken.

The CEO of KFC Kevin Hochman, always had his reservations with the plant-based meat. However, he might get flexible incase the buzz grows to become a huge and long-term customer demand. He adds that in such a case, he might look at the frontline in undertaking the test across the US.

Pair ups on the rise

Partnerships of this nature have lately been on the rise with business giants pairing up in a quest for business success. Beyond Meat is pleased about the pair-ups. It is not the first time. The company has over the past worked with businesses such as Tim Hortons, A&W Canada, and Del Taco.

A significant number of business analysts have lately been indicating their support for such business par ups. They believe that Beyond Meat is placing itself on the path of success by taking the latest initiative. It is a business deal that will have a wide range of products placed in most of the restaurants.

Beyond Meat has been focusing majorly in burgers and sausage patties. This time around, it is taking a brave move by expanding outside its market zone. Statistics from reliable sources indicate the changes in customer tastes and preferences. Quite a significant number are now going for plant-based products. In fact, they are even willing to pay higher rates.

Published by Swati Goyal

Swati Goyal has over 6 years of experience in financial research & analysis domain. She has built financial models varying from consumer goods to banks. She has her articles published in leading dailies of the nation

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