Plant Food Ambition

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I’m sure you’re becoming aware of the increasing trend towards plant based food as an alternative to meats and I covered this issue back in June when I noticed that Beyond Meats (a US producer of plant-based meat substitutes, founded in 2009) had entered the China market. See Beyond Burgers.

Hot on their heels is v2food, a new Australian start-up which has raised significant capital from Chinese VC investors following the initial backing of the legendary Jack Cowin of Hungry Jacks fame (an Australian household name in burgers) and is now “insanely ambitious” in their plans to enter the Asian market, particularly China.

Founder and CEO Nick Hazell shrugged off political concerns saying “people have squabbles you know, we need China and China needs us, we are business partners and saner minds will eventually prevail in where this thing all comes down.”

From what I can see, v2food have at least three of the four critical success factors to win in China: 1. A Deep Niche, 2. A unique Brand Story and 3. Financial Capacity. The fourth, Managing Cultural Differences will, as is common for foreign companies in China, be their biggest challenge.

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