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KFC to launch meatless fried chicken made with Beyond Meat nationwide

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KFC has launched Beyond Fried Chicken

KFC

KFC restaurants across the country will offer additional services. Beyond Meat’sFor a short time, meatless chicken will be added to the menus of this restaurant starting Monday.

This launch is the culmination of years-long testing by the Yum BrandsChain and Beyond collaborated to develop a meat replacement that resembles whole-meat chicken like breast. After testing the plant-based poultry at an Atlanta restaurant, they sold out within five hours. Customers in Nashville, Charlotte, and Southern California were able to taste the product for the first time in 2020.

A year ago, it was almost impossible to find Beyond. announced a formal partnership with YumTo create exclusive meat substitutes to Pizza Hut and Taco Bell.

Look for growth

Wall Street started to doubt Beyond’s growth prospects and Beyond stock has been struggling. The company’s market capitalization has dropped to $3.9billion over the past 12 months as shares lost half of their value. Stock closed Tuesday at $61.62, down 5%. According to Factset short-sellers that bet against the stock account for 37.2%.

Yum shares have increased 30% over the past year and now trade at $40.3 billion. The stock has seen strong demand for KFC’s chicken fried chicken, which helped to lift its price. U.S. sales of the same-store chain grew 13% on a two-year basis during its third quarter.

However, the chain of fried chicken believes customers will be looking for something more to satisfy their New Year’s resolutions.

Kevin Hochman (U.S. president, KFC) stated that “This really is about where the customers are going. They want to eat less animal-based protein.” “It’s January. It’s time to make New Year’s Resolutions, and do something new in your diet.

Chipotle Mexican GrillAll rolled out plant-based chorizo Monday at its restaurants nationwide — also targeting customers who are trying to eat less meat in 2022.

KFC offers Beyond Fried Chicken as a six- and 12-piece option, along with the dipping sauce. The prices start at $6.99 and do not include tax.

To prepare for the new year’s launches, Beyond poached industry veterans from Tyson FoodsIn December the C-suite was expanded with Doug Ramsey joining as chief operating and Bernie Adcock taking on the role of chief supply chains officer. Ramsey was with the organization for over three decades. TysonSupervising the poultry. McDonald’s businesses. Adcock spent thirty years with Tyson, focusing on supply chain and operations management.

Ethan Brown from Beyond Meat said that they are continuing to build the operations team. He added that KFC’s partnership with Beyond Meat was not an instant deal but had taken years to make. We brought in, I believe, the most respected executives from the industry and they’ve helped prepare us for it.”

Retail and synergies

The new product will allow customers to join its grocery store, which has been boosted by pandemic-preparation early on. but then saw declines in subsequent quarters.

Brown explained that “it has great synergies to what we are trying in retail.”

In the latest collaboration between influencers and fast food chains, Liza Koshy, a YouTube star, will promote the new meatless chicken menu item. KFC won’t target vegetarians or vegans with their marketing, however. The Beyond Fried Chicken uses the same equipment that KFC’s traditional chicken.

Hochman stated, “It is really important that it be made really simple for the team members.”

Restaurants have been hit hard by a national labor shortage over the past year. Many restaurants are now short of staff. Many chains were unable to introduce new items, or reduce their menus, in an effort to keep the business running smoothly despite having less workers. Surges in new Covid-19 casesWorker exposure or positive tests can exacerbate these issues.

Hochman and Brown both believe the product will succeed despite the nationwide increase in demand for the omicron version. Americans are becoming more open to flexitarian eating, in which they reduce their meat intake for environmental and health reasons. This has led to some popularity for plant-based meat alternatives.

Brown stated that “From a supply standpoint, it feels really good,” and that it was something he had experienced in the initial trials.

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