Impossible Foods' partnership with Walmart is a 'very significant' step for the company, CEO Patrick Brown said Thursday.
Brown said he does not view the two companies in competition with each other and he wishes Beyond luck in their business. Instead, he said both companies are competing against the meat industry. He described Impossible Foods' mission as completely replacing the need for animals in the food system.
More than 90% of Impossible customers are current meat consumers, Brown said, meaning purchases largely come from customers selecting its product as an alternative to meat. With this in mind, Brown said he was happy the product will be sold in the meat aisle of stores so it can be where buyers are looking.
"I think we're going to see, with the disruption of the meat industry, more first-time buyers that are looking elsewhere for their meat," he said. "It's very sticky. A majority of them become repeat customers."
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