Beyond Meat Gains As It Lists Menu On China’s JD.Com
By Dhirendra Tripathi
Investing.com – Beyond Meat (NASDAQ:BYND) stock rose 1% in Thursday’s trading as the company listed its offerings on China’s JD.com (NASDAQ:JD), the country’s largest ecommerce platform by revenue with close to 200 million customers in total.
The company’s JD.com store will initially help expand availability of its products in four major cities, including Beijing and Shanghai, and eventually in 300 cities in the world’s most populous country.
JD.com's 18 cold chain warehouses will provide delivery of Beyond Meat products to consumers within 48 hours of orders being placed, it said.
Online sales in China of fresh food, into which category Beyond Meat's products fall, are expected to top 300 billion yuan ($46.40 billion) this year, an increase of 18% from 2020, Reuters said, citing iiMedia Research.
A 0.454 kg twin pack of plant-based beef will be sold at 210 yuan on the company's JD store. By comparison, 1 kg of good quality domestic beef costs about 140 yuan on JD's fresh food platform, Reuters said.
In April, the producer of plant-based meat substitutes opened its first manufacturing facility outside the U.S. in China.
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