Beyond targets new customers with a protein drink

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Set us as preferred Beyond the Plant Protein Co., formerly Beyond Meat, is trying to channel its plant-protein expertise into new products to attract new customers.In March, the El Segundo-based company decided to drop “meat” from its name to expand into other plant-based protein products.

Earlier this year, Beyond launched a sparkling protein beverage called Beyond Immerse to appeal to the recent surge in demand for protein drinks.The beverage boasts 20 grams of protein, 7 grams of fiber and 100 calories in each 12-ounce can.It uses Beyond’s clean pea plant protein as its main protein source to keep calories low, and comes in three flavors.

It is available in packs of 12 on Beyond’s website for $35.99.In June, the brand announced it would launch in New York through Big Geyser, with Josh Hart of the New York Knicks as its brand ambassador.

Business Beyond Meat is changing its brand to just Beyond.Chief Executive Ethan Brown founded the company in 2009 with plant-based chicken strips before expanding into products such as pork and its signature product: the Beyond burger patty.

When the company went public in 2019, its shares surged to more than $230.It had raised more than $70 million in venture financing from the likes of Bill Gates, Tyson Foods and Twitter co-founder Biz Stone.

Beyond has struggled to maintain relevance as the hype surrounding plant-based meat died down, with health influencers pioneering new trends of clean eating, whole foods and a focus on incorporating protein, fiber and electrolytes into their diets.Meanwhile, inflation, which has led to higher grocery bills, made customers less likely to spring for costly premium products like plant-based protein.

Beyond’s shares have steadily declined since its 2019 peak, tumbling more than 20% so far this year to close Wednesday at around $0.65.While ...