Latest News by Industry
• KFC restaurants will start selling Beyond Meat’s plant-based chicken across the U.S.
• KFC’s Beyond Fried Chicken will be available in six-or 12-piece, starting at $6.99
Yum Brands Inc’s KFC restaurants will start selling Beyond Meat’s plant-based chicken across the U.S. from January 10 for a limited time.
Yum Brands and Beyond have been testing a meat substitute for years to replicate the taste and texture of chicken. Beyond had announced a deal with Yum to make meat substitutes for Pizza Hut, Taco Bell and KFC.
In August 2019, the companies tested the plant-based chicken at an Atlanta restaurant while in 2020, it was sold in Nashville, Charlotte and southern California.
Stock performance
Beyond’s stock has not performing well in the last 12 months as its shares have lost half their value, bringing the market value to $3.9 billion. On Tuesday, Beyond’s shares closed 5% down at $61.62.
Yum, on the other hand, has reported 30% jump in the last year, valuing the company at $40.3 billion due to strong demand of KFC’s fried chicken. The same-store sales jumped 13% on a two-year basis during its third quarter.
The chain, however, wants to offer customers something different during the new year time.
“This is really about where the customer is going, they want to eat more plant-based proteins,” said Kevin Hochman, U.S. president of KFC. “It’s January, so it’s a time of New Year’s resolutions and wanting to do something different in your diet.”
KFC’s Beyond Fried Chicken will be available in six-or 12-piece with dipping sauce included, starting at $6.99, excluding tax.
Picture Credits: KFC