In a Sunday blog post, Impossible Foods punched back at a Bloomberg Businessweek report last week that described the sector as “another fad.”
abysmal financial performance
But Redwood City, Calif.-based Impossible Foods, which is privately held, says those numbers don’t describe its own performance. “Our products have only been in grocery stores for the past 2-3 years,” according to the blog post. “Since our commercial debut we haven’t done any sustained marketing or advertising to grow awareness. Aside from a little help from our friends our audience has mostly found their way to us on their own,” according to the blog post., down to about $16 or 75% off from a year ago and is having a “halo effect on the entire sector,” according to restaurant analyst Mark Kalinowski.
Impossible Foods says it is sold at more than 30,000 grocery stores including Costco, Trader Joe’s, Walmart and Target — up from just 150 in 2020 — and that more than 45,000 restaurants offer its products.Bloomberg via Getty Images
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
7 'Healthy' Foods That Are Worse Than Candy, Say DietitiansNot everything that is marketed as 'healthy' is truly good for you. In fact, some foods can be so unhealthy that they are worse than candy.
Read more »
New USDA rule strengthens integrity of foods labeled 'organic'A new USDA rule aims to strengthen the integrity of foods labeled 'organic' and reinforce the trust of consumers and farmers.
Read more »
Ex-Russian commander explains why Putin's success in Ukraine is impossibleIgor Girkin said that since Russia has classified the invasion as a 'special military operation' rather than a war, leaders are limited in disciplinary actions.
Read more »
Pick up these favorite foods to celebrate the Lunar New YearCelebrating the Lunar New Year with some favorite dishes including fried spring rolls, whole steamed fish and lo bak go.
Read more »
Foods And Drinks That Help With Morning SicknessWe know how the 1st trimester must be treating you. Nausea and morning sickness are intolerable, so we have prepared some foods and drinks to help ease your discomfort.
Read more »
Research lab at BYU pays for participants to taste foodsThere are only two sure things in life - and they aren't death and taxes. It's the guarantee that college students are always hungry and always need money.
Read more »