Australian vegan burger chain Flave, co-founded by former Zambrero CEO Stuart Cook and his wife Samantha, has ceased operations, the Australian Financial Review (AFR) has reported.
The burger chain, which was launched in 2020 with ambitions to open 300 stores, attributed its closure to a change in Australian consumer attitudes towards plant-based meats.
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In mid-2023, Flave temporarily shut its two locations in Bondi, New South Wales (NSW).
According to documents from the Australian Securities and Investments Commission, Flave had raised more than A$7.5m ($5.08m) in funding.
The news agency reported that the restaurant brand secured A$900,000 through a crowdfunding campaign in late 2022.
Its last available financial report indicated sales of A$1.2m and a net loss of A$2.4m for the fiscal year 2023.
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By GlobalDataStuart Cook said: “We’ve been actively exploring multiple options, including shutting down the Australian operations and engaging in discussions with potential international partners.
“However, their assessment, like ours, is that Flave is slightly ahead of current consumer habits.”
“Despite our best efforts to innovate and adapt to these changes, the market dynamics have proven difficult to navigate. The conclusion is – there just isn’t demand in Australia for a mass-market, scalable, fully vegan eatery.”
Cook added that the market has experienced “significant fluctuations”.
The difficulties faced by Flave are not unique within the sector.
In November 2024, Neat Burger, another plant-based eatery, decided to close four of its eight locations in London, UK, due to shrinking footfall.
The closures were prompted by a “shift towards hybrid work, which led to a natural decrease in foot traffic at some of our larger restaurants.”
