Starting in September, this limited-time sale of sandwiches will be sold in 685 locations in the US and Canada.
Editor’s note: This article is from “Tencent Technology”, reviewing music , authorized to reprint.
According to foreign media reports, the sandwich chain Saibaiwei believes that the cooperation with artificial meat manufacturer Beyond Meat can help reinvigorate its struggling business.
The company is working with this artificial meat manufacturer to start testing the Beyond Meatball Marinara sandwich. Starting in September, this limited-time sale of sandwiches will be sold in 685 locations in the US and Canada.
In the second quarter of Beyond Meat’s net sales, restaurant sales accounted for nearly half, or about $33.1 million. The El Segundo, Calif.-based company has partnered with chain stores such as Dunkin’, Del Taco and Tim Hortons as more and more consumers are starting to eat meat substitutes.
Ou Rui predicts that by 2023, the US meat substitute market will grow to 2.5 billion US dollars. According to Nielsen, elastic vegetarians—the omnivores who want to reduce their meat intake—are 98% of the total number of meat substitute buyers.
Investors are very optimistic about the future growth prospects of meat substitutes and Beyond Meat’s future development opportunities, which prompted the company’s share price to soar since the initial public offering (IPO) in May. Beyond Meat’s market capitalization is now $9.8 billion, and its share price has risen 544% since the IPO, despite its stock price plummeted after the second sale last week.
Building partnerships is also an important part of the strategy for the revitalization of the Subway. In the past six weeks, Subway has announced a partnership with King’s Hawaiian to produce bread and partner with Halo Top to produce the first milkshake. It is also transforming 10,500 US stores and launching distribution services across the United States.
The Cypress, which is still a private company, has undergone a massive expansion for many years. During the 2008 financial crisis, the sandwich chain was successful with its $5 signature sandwich. But the newer Subway Restaurant began to grab sales from nearby stores. In addition, the seemingly healthier foods of rivals such as Chipotle Mexican Grill and Potbelly have also sucked away a lot of traffic, and rising commodity costs make signature sandwiches unprofitable.
In 2016, the number of restaurants closed by Subway was more than the new one.