Weekly Global News Wrap: Taco Bell's hotel menu revealed; Plant-based meat sales predicted to reach US$85 billion by 2030; Slim Chickens' 600-store plan
Here is a summary of the most interesting QSR news stories of the week from around the world.
US-headquartered fast casual chain Slim Chickens announced an equity investment from private equity firm 10 Point Capital, fueling its goal of opening 600 new locations over the next ten years. The chicken chain currently has over 80 locations across 14 states, the United Kingdom and Kuwait. Read more here.
The plant-based meat market will grow by 28% a year and reach US$85 billion by 2030, UBS has forecasted. Business Insider reports the company also predicted that plant-based dairy alone could be worth US$37.5 billion by 2025. Read more here.
Domino's has released its second quarter earnings, disappointing investors who expected the chain's sales to grow at a faster clip. As reported by CNN, CEO Richard Allison says the chain continues "to see a significant amount of pressure" from third-party delivery aggregators. Read more here.
McDonald’s has added DoorDash as a new delivery partner, bringing an end to its exclusive partnership with UberEats. CNBC reports that UberEats was the sole U.S. delivery provider for the fast food giant since 2017. Read more here.
Taco Bell has revealed the exclusive menu for their pop-up hotel, which sold out in just two minutes. The new items include the Fire Chip Chilaquiles that come with tomatillo salsa, Mexican crema, queso fresco, pico de gallo, and a fried egg; and the Avocado Toast-ada, served on local multigrain toast with avocado, breakfast radish, chipotle seasoned sorghum, and "Diablo puffs". Read more here.
KFC in Russia has launched a hat that looks similar to their classic chicken bucket. As AdWeek reports, the Bucket Hat was created by agency Wieden + Kennedy Amsterdam in partnership with St. Petersburg-based streetwear brand Mam Cupy. Read more here.
