Morning Business Outlook: Plant-based company Beyond Meat sees a rise in stock; the popular food delivery app DoorDash was hacked affecting nearly 5 million delivery drivers, merchants and restaurants.
Beyond Meat is going beyond burgers — and could soon start making chicken.
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In an interview with Bloomberg TV, Chief Executive Officer Ethan Brown said the company’s plan to push into poultry could get a lot more serious in 2020, as it looks to top other meatless meat competitors and extend its reach into new, lucrative, food lines.
“You’ll see some exciting things from us in the poultry space in 2020,” Brown said but later added he could not yet name any specific partnerships or developments on the project.
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Beyond Meat did not immediately respond to a request for comment from FOX Business but is working on a plant-based, whole-muscle breast tissue, according to Brown.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BYND | BEYOND MEAT INC. | 76.33 | +2.73 | +3.71% |
The company, which brought in $56 million in revenue in the first nine months of 2018, currently offers beef and sausage products at more than 58,000 locations. But this won’t be its first venture into chicken. The brand ran a one-day meatless fried chicken test in an Atlanta-based KFC, where the chicken sold out in less than five hours.
“KFC Beyond Fried Chicken is so delicious, our customers will find it difficult to tell that it’s plant-based,” KFC U.S. President and Chief Concept Officer said in a statement in August, adding that customer feedback would determine whether the test could roll out nationally.
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And chicken could be a money-making market: An intake estimate from the U.S. Department of Agriculture showed Americans ate 93 pounds of chicken each in 2018.
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While Beyond Meat considers the chicken market, competitor Impossible Foods said in August that it’s looking into the seafood market with a new fishless fish recipe.
