Impossible Foods CEO Patrick Brown said the launch of the Impossible Burger at Walmart is a “very important step” for the company, as the discount retailer is the largest meat seller in the US
“Walmart is the world’s largest food retailer,” Brown said on Thursday “Closing Bell.” “It has a huge presence – 90% of the US population lives within a mile of a Walmart store. “
Brown said the partnership is exactly what the company wants, especially given Walmart’s commitment to sustainability. The launch brings the impossible to more than 2,000 stores in all 50 states, as well as the Walmart website and app.
This partnership increases the availability of vegetarian burgers at more than 8,000 retail locations, as the company’s retail footprint has grown 50-fold compared to six months ago. Impossible’s rival Beyond Meat is already available at retailers such as Kröger.
Brown said that he does not see the two companies competing with each other and wishes for luck beyond his business. Instead, he said that the two companies were competing against the meat industry. He described Impossible Foods’ mission as completely transforming the need for animals in the food system.
More than 90% of Brown’s potential customers are current meat consumers, Brown said, meaning that customers who purchase extensively choose their product as an alternative to meat. With this in mind, Brown said he was happy that the product would be sold in the meat aisle of the stores, so this could be where buyers are looking.
“I think we’re going to see, with the disintegration of the meat industry, more first-time buyers who are looking elsewhere for their meat.” “It’s very sticky. Most of them become customers.”
Impossible Foods ranks 49th on the 2020 CNBC Disruptor 50 list.