Fake meat backlash

After record-busting sales during the pandemic, faux meat has struggled at retail more recently. Sales of refrigerated meat alternatives decreased by 15.5% for the 52 weeks ending Jan. 29, per IRI, with even the growing popularity of Veganuary failing to give the category a boost.

Despite a well-publicized backlash against products in the space, criticized for their premium price and processed ingredients, Impossible has bucked the trend with retail sales that jumped more than 50% in 2022, per the company.

The Silicon Valley-based brand has expanded its offerings to include a leaner version of its flagship beef substitute, called Impossible Beef Lite, and more fake chicken products.

Even with those gains, CEO Peter McGuinness said in February the company doesn’t plan an IPO in 2023, following two rounds of employee layoffs.

Bolstering its marketing is a priority, McGuinness told Adweek last fall when the company announced Sims as its first chief marketing and creative officer, with Sherene Jagla joining in January as Impossible’s first chief demand officer.

According to Sims, “Mini Impact Kitchen” is intended to be a step in the direction of “getting our message out in as many places as possible, improving the narrative and pointing out the why.”