- Alibaba's Freshippo grocery stores in Shanghai will start selling Beyond Meat's meatless burgers on Saturday.
- The maker of meat alternatives first entered mainland China in April through a partnership with Starbucks.
Beyond Meat announced Tuesday that Alibaba's Freshippo grocery stores would start selling its meatless burger patties, marking its entry into supermarkets in mainland China.
The maker of meat alternatives first entered mainland China in April through a partnership with Starbucks. Yum China's KFC, Taco Bell and Pizza Hut also sell Beyond Meat products in several Chinese cities.
Beyond Burgers will be available at 50 Freshippo locations in Shanghai starting Saturday. By September, the patties will also be available at an additional 48 locations in Beijing and Hangzhou.
"We know that retail will be a critical part of our success in China, and we're pleased to mark this early milestone within a few months of our market entry," CEO Ethan Brown said in a statement.
Shares of Beyond closed Tuesday up 1.9% at $133.98. The stock, which has a market value of $8.34 billion, has risen 77% so far in 2020.