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Kim Kardashian to Promote Beyond Meat as New 'Chief Taste Consultant'
Beyond Meat Inc. signed celebrity and influencer Kim Kardashian as its "chief taste consultant," giving the plant-based burger maker a powerful ally as it seeks to turn around its performance.
Kardashian, who often post photos of her well-stocked refrigerator on social media, said she will share her favorite Beyond Meat products in the company's newsletter. In a post on Instagram, she said she was inspired by the company's mission. In a statement with Beyond Meat, she said its products benefit "both people and the planet."
She will be featured in a new Beyond Meat advertising campaign. The company cited her "impeccable taste in food, fashion, beauty and more."
Kardashian's involvement could help the embattled alt-meat maker, which has struggled to maintain its earlier pace of growth amid heightened competition and questions about the products' appeal and healthfulness. Beyond Meat shares have plunged about 80% in the last 12 months and are currently below what they priced at in the company's initial public offering in 2019.
Beyond Meat shares fell 5.3% at 10:26 a.m. in New York trading, reversing an earlier gain.
In Kardashian, the company has a valuable ally who, along with her family members, is involved in several billion-dollar consumer brands. Her underwear label, Skims, earlier this year saw its valuation skyrocket to $3.2 billion. Her endorsement can single-handedly make a product successful, with her influence extending deep into the apparel and cosmetics industries.
Her ability to raise a company's profile will be welcome for Beyond Meat, which is working to tame a costly production process for its new jerky product and waning consumer curiosity about its products. In its most recent recent earnings, Beyond Meat said its jerky boosted sales at retailers -- but sales of other products slipped.
Kardashian joins Beyond Meat ambassadors such as Kevin Hart, Shay Mitchell, Snoop Dogg and Liza Koshy.
Bloomberg
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