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· Beyond Meat is coming to Alibaba's grocery stores in China
· Beyond Meat enters grocery stores in mainland China through Alibaba partnership
Beyond Meat is coming to Alibaba's grocery stores in China
By Michelle Toh, CNN Business
July 1, 2020
Hong Kong (CNN Business)Beyond Meat (BYND) is on a roll in China.
The plant-based protein maker unveiled a new partnership on Wednesday with Chinese tech giant Alibaba (BABA), which will bring Beyond Burgers to supermarket shelves in mainland China for the first time.
Alibaba is kicking off the deal by rolling out the products in 50 of its Freshippo stores in Shanghai, the company's futuristic supermarkets where customers use an app to order food and buy groceries. The tie-up marks Beyond Meat's first placement in supermarkets in mainland China, where it first launched in April with a big Starbucks tie-up. Prior to that, the company's goods were available in Hong Kong.
"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," CEO Ethan Brown said in a statement. "Expanding into retail is the natural next step in building our market presence."
Alibaba is the latest big-time partner Beyond has won in mainland China, a vast market that is seen as vital for the US company's growth.
In its latest earnings call in May, Brown said that Beyond had recently set up a Chinese-language website, as well as accounts on local social media platforms such as Tencent (TCEHY)'s WeChat, to spread the word about its debut there...
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Beyond Meat enters grocery stores in mainland China through Alibaba partnership
· Alibaba’s Freshippo grocery stores in Shanghai will start selling Beyond Meat’s meatless burgers on Saturday.
· The maker of meat alternatives first entered mainland China in April through a partnership with Starbucks.
Amelia Lucas, CNBC
Jun 30 2020
Beyond Meat announced Tuesday that Alibaba’s Freshippo grocery stores would start selling its meatless burger patties, marking its entry into supermarkets in mainland China.
The maker of meat alternatives first entered mainland China in April through a partnership with Starbucks. Yum China’s KFC, Taco Bell and Pizza Hut also sell Beyond Meat products in several Chinese cities.
Beyond Burgers will be available at 50 Freshippo locations in Shanghai starting Saturday. By September, the patties will also be available at an additional 48 locations in Beijing and Hangzhou...
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