Original Article: Eji Sight
Hong Kong-based Green Monday has positioned itself as a social startup that tackles climate change and global food insecurity.
“We are more than just a restaurant, or a food product company,” co-founder and chief executive David Yeung told EJ Insight in an interview.
The group includes Green Monday, which mainly promotes vegetarian culture and green living; Green Common, responsible for food retailing, catering and distribution; Right Treat, which is the food tech research arm that came up with the plant-based pork substitute product Omnipork; and Green Monday Ventures, which is the venture capital arm.
“The entire business plan aims for one goal: make change happen, make green common,” Yeung said.
He said the group aims to become “a platform, an ecosystem”. It is moving toward its goals through public advocacy, impact investing, corporate consulting and specialized retail.
Aside from acquiring shares in Beyond Meat four or five years ago, the group has also invested in about 10 startups, including those involved in plant-based meats, animal-free dairy proteins like Perfect Day, plant-based beverages such as Califia Farms, and other food-tech companies.
Asked about the profitability of the group, Yeung said more than US$20 million has been invested in the entire business.
“At the moment, we are not far from being profitable,” he said. “But we are still investing heavily in growth, as the market is still in its early stage.”
Yeung said the group’s focus is expanding into new markets, for example, entering the mainland China market through partnerships with internet and e-commerce giant Alibaba Group.