Swedish company
AB created a global oat milk craze. Now it’s falling behind on the one thing it was supposed to do: make oat milk.
But a troubled U.S. expansion left it unable to fully capitalize on the demand it created, leaving an opening for competitors from more-established food companies to gain ground. Since going public, Oatly has lowered its sales forecasts, and shares are down about 80% from their high last summer.
Oatly struggled to build and operate factories in the U.S., miscalculating budgets, timelines and equipment needs, according to internal company documents and interviews with people familiar with the matter, including employees and former executives.
Manufacturing delays contributed to recurring shortages of Oatly’s products in American coffee shops and grocery stores….
