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.
—With assistance from Kim Bhasin.
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