Just weeks after officially entering the Chinese market, plant-based artificial meat company Beyond Meat Inc is now selling its fake meats in Brazil. The company announced on Wednesday that its artificial meat burgers and sausages will now be available at a number of high-end supermarket locations operated by St Marché in Sao Paulo, Brazil.
Starting this week, Brazilian customers will be able to buy and sample the company's various plant-based offerings in 19 of St Marché's stores in the country's richest city. Beyond Meat's entry into the country, which is the world's third-largest consumer of beef behind the U.S. and European Union, is a big boon to its business. So much so, that the reports of its entry into the country have managed to renew interest in its stock, which surged upward on the news.
Following the news of its partnership with the Brazilian high-end supermarket retailer, Beyond Meat's share prices surged by around 4 percent on Wednesday. The company's stock closed at $131.73 per share. Since the start of the year, Beyond Meat's share prices have rallied by more than 71 percent.
The company mentioned in a statement that its entry in Brazil will present it with a significant opportunity. Beyond Meat is pushing for nationwide adoption of its plant-based meat, and given the country's appetite for meat products, the company is expecting a massive surge in its earnings in the coming quarters.
Much like its rivals, Beyond Meat has been doubling down on its global expansion plans, forging new partnerships with international players to get its brand out to the more people. Despite the global economic effects of the coronavirus pandemic, Beyond Meat has chosen to push forward with its ambitions.
In China, Beyond Meat had partnered with Yum China Holdings, which started offering Beyond Meat burgers for a limited time at select locations. Around two weeks ago, Beyond Meat announced that it had partnered with Chinese e-commerce giant Alibaba Group to make its plant-based artificial meat products available at its Freshippo markets.
Earlier in the Week, Beyond Meat forged a new partnership with another Chinese firm to make its products more widely available to Chinese consumers. On Tuesday, the company announced that its products will now be available in select METRO China stores in Shanghai.
METRO China President Claude Sarrailh mentioned in a statement that the demand for healthier and more environmentally friendly products is at an all-time high in the country. By partnering with Beyond Meat, the Chinese grocer is aiming to provide healthier meat alternatives to all Chinese consumers.
