Vegan Fast Casual By CHLOE Receives a $31 Million Investment

Instagram | @eatbychloe

Instagram | @eatbychloe

The New York fast casual By Chloe has plans and now also the funds to expand globally.

The vegan brand has received a $31 million investment from Kitchen Fund, Collaborative Fund, Bain Capital, TGP International/Qoot International, and other investors to open more stores worldwide.

The chain that opened in 2015 now has 10 stores in New York City, Boston, Los Angeles, Providence, R.I, and now London.

By Chloe’s first UK location opened in London last February, but with the recent investment the brand is primed to continue its expansion in Europe and has plans to open stores in the Middle East.

“The goal from day one was to bring vegan food to the masses and make it as accessible and as fun as possible,” said Samantha Wasser, by CHLOE’c co-founder and creative director.

“The eatery has followed through on its initial goal of showing diners — particularly meateaters — that vegan food can look and taste great. By CHLOE is known for its plant-based dishes with meatless takes on burgers (tempeh-lentil-chia-walnut patties) and barbecue (smoked portobello mushrooms and seitan in a bourbon barbecue sauce), along with salads, pastas, juices and desserts. Prices are comparable to Shake Shack with meals ranging from $4.95 to $10.95,” writes “Moneyish.”

By CHLOE's Instagram feed

By CHLOE's Instagram feed

By CHLOE is one of the first vegan fast casual chains on the market.

The Vegan industry in the U.S. has quickly become a $2.22 billion market and it’s rapidly growing. According to a "Vegetarian Times" study, of the 7.3 million vegetarians, 1 million of them are vegan.

But, by CHLOE isn’t only catering to vegan eaters. Meat-eaters enjoy the menu items too, like the pesto meatball sandwich made with a Portobello mushroom and the sweet potato-cashew mac n’ cheese.

The fast casual has morphed into a lifestyle brand.

A lifestyle restaurant brand markets its concept to embody the interests, attitudes, and opinions of a group or a culture. They inspire, guide, and motivate their customer-base, while their brand helps to contribute to the elements that make up a consumer's way of life.

“Millennials are looking for that fun experience when they’re out, and want to document it,” said Wasser. “And I think that people want to follow us because we created a lifestyle brand that isn’t just about our food.”

Read more about By CHLOE's upcoming expansion at "Moneyish."

Also earlier in the week, the former co-founder Chloe Coscarelli is suing by CHLOE's parent company ESquared Hospitality LLC for trademark violations and also made accusations against the ESquared Hospitality CEO James Haber.