Continuing its expansion efforts amid a whirlwind of external headwinds and internal self-inflicted wounds (as the company has suspended its COO for allegedly biting a man’s nose), plant-based pioneer Beyond Meat has linked up with Pizza Hut to bring consumers in Singapore an alternative meat pizza.
Beyond Meat is also burning through its cash stockpiles after a net income loss of US$97 million in the first quarter of the year. Similarly, through the first months of 2022, the company had a negative free cash flow of US$278 million.
Beyond Meat will bring its plant-based Italian sausage crumble to Singapore Pizza Hut’s seven-cheese pizza, creating the Cheesy 7 Beyond Supreme.
“This partnership with Beyond Meat marks another step forward in our journey towards reducing our carbon footprint,” said Jays Rajoo, director of marketing and food innovation at Pizza Hut Singapore.
Beyond Meat trimmed this year’s revenue growth expectations last month from 22-33 percent (US$560 million to US$620 million) to a 1-12 percent predicted increase (US$470 million to US$520 million). The plant-based meat company also announced that it is cutting 4 percent of its workforce.
On top of this, the company’s partnership with McDonald’s has raised more doubts than hopes, as the fast-food business concluded its test trials of McPlant Burger’s in US locations without releasing any plan to bring the plant-based offering nationwide.
