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$1 Billion Worth of Doritos Locos Tacos Sold

$1 Billion Worth of Doritos Locos Tacos Sold


Taco Bell has reached a new milestone

The Doritos Locos Taco is here to stay.

Some five months after selling 500 million Doritos Locos Tacos in May, The Huffington Post reports that now, Taco Bell has sold $1 billion worth of Doritos Locos Tacos in the history of the hybrid stoner food.

A Taco Bell official reported that as of Saturday, Oct. 12, more than $1 billion hybrid tacos were sold, whether it's the original nacho cheese flavor, Cool Ranch, or the new Fiery taco.

Since the rollout, which was discussed as "the biggest launch in Taco Bell history," the company has reportedly hired 15,000 new employees to deal with the high demand. Not bad for tacos.

The first Doritos Locos Taco was launched officially in March of 2012, although the Internet had whispers of the hybrid taco long before that. The original nachos flavor was soon followed by Cool Ranch the following year in March of 2013, followed swiftly by the spicy Fiery cousin in August. Each taco has a suggested retail price of $1.29, and the tacos have only been out for a little more than a year and a half. You do the math.


Todd Mills, man behind the Doritos Locos Tacos idea, dies

Ever wonder where the idea for the Doritos Locos Tacos came from? Seems like a no-brainer to eat taco filling sandwiched between the two powdery orange ends of a nacho cheese Dorito shell, but one man made it his passion to make the shells a reality.

[Update, 4:30p.m. Dec. 4: Taco Bell released the following statement: “We know this is a tragic time for Todd’s family. He was a huge Taco Bell fan. He was passionate about the Doritos Locos Taco, and although he did not invent it, he founded a Facebook page to drum up support. In light of his passion, we invited him to be one of the first to try it. He became a true friend of the brand, so when we learned of his ill health, we made a $1,000 donation towards his medical expenses. We will miss Todd very much and our hearts are with his family and friends in this difficult time.”]

Todd Mills, the man behind the Facebook group “Taco Shells from Doritos Movement,” died on Thanksgiving at the age of 41 after a battle with brain cancer.

According to Mills’ wife, Ginger, the taco shell idea started with Mills using Doritos to make taco salads. In 2009 he pitched the idea to Frito-Lay, but the shells were rejected. He then took the cause to Facebook.

The page features photoshopped images of Doritos tacos shells and a variety of celebrities, cartoons, ads and more. Images include one of Gordon Ramsay holding two Doritos taco shells, actor Keanu Reeves contemplating a Doritos taco shell on a bench and a framed painting of a Doritos taco shell hanging next to the Mona Lisa in the Louvre.

Mills finally received a phone call from Taco Bell in 2012. The company flew Todd out to its test kitchen in California to be one of the first people to try its new Doritos Locos Tacos.

Taco Bell went on to sell more than $1-billion worth of the tacos, but Mills did not receive any sort of compensation. Taco Bell did, however, contribute $1,000 to help pay for Mills’ medical bills after a friend reached out to the company via Twitter.

Someone identifying themselves as the co-administrator on Mills’ Facebook page wrote in a status update on Sept. 28 that Mills was battling Stage 4 brain and lung cancer and had undergone brain surgery and had had a portion of his right lung removed.

After Mills’ funeral on Dec. 2, friends went to Taco Bell to eat his favorite tacos.


Share All sharing options for: Why Do Brands Still Bother With Stunt Food?

Chicken wings and Mountain Dew have long enjoyed their status as the late night, non-alcoholic power couple. With their overloading bursts of sweet and savory flavors, consumers essentially lock themselves in a masochistic roller coaster of the senses. But, while manageable as separate entities, imagine a world where these edible heart attacks inhabit the same meaty space.

For a short time, diners didn't have to imagine anymore. For the 2016 Buffalo Wild Wings Citrus Bowl on January 1, mad culinary scientists at PepsiCo and BWW enabled wing aficionados to "DO THE DEW®" with a limited-time-only Mountain Dew-flavored Zesty Citrus sauce. "The immediate opportunity came between key figures at PepsiCo and ourselves," says Todd Kronebusch, vice president of innovation at Buffalo Wild Wings. "To say, 'wouldn't it be great if we could tie in Mountain Dew with next year's Citrus Bowl and having a sauce that's built around the essence of Mountain Dew?'"

Like any stunt food — or food items designed to provoke shock and awe (see: Epic Meal Time its illegitimate spinoffs) — the Zesty Citrus Wings followed their predecessors in indulgence and uncharted flavors. Beginning with KFC's Double Down meat-pocalypse in 2009, companies have continued to experiment customers' appetites for innovation, like Jack in the Box's Bacon Milkshake and Taco Bell's Breakfast Waffle Tacos. The list grows wider — and weirder — each year.

"Every year it gets harder and harder to come up with something that’s new because the food industry is very mature."

"We are constantly searching for the next novel thing," says Barb Stuckey, a food industry expert at "concept creation" firm Mattson. "Every year it gets harder and harder to come up with something that's new," she says of society's craving for novelty, "because the food industry is very mature."

With companies pursuing the intersection between bizarre originality, taste, and commercial success, finding the perfect stunt food recipe has ultimately become a search for a culinary unicorn. We have seen such success with the Doritos Locos, a collaborative effort in 2012 between the fast/junk food titans Doritos and Taco Bell that spearheaded a two-year-long increase in sales. This prompted a surge in fast-food restaurants concocting conceptually absurd ideas, like the Zesty Citrus Sauce wings, in pursuit of a similar success. But despite being newsworthy and mind-boggling, consumers still are left whether these products are actual moments of genius worth their money and culinary experiences, or if restaurants are blindly throwing Frankensteinian recipe darts, hoping one will strike the consumer bullseye.

The Locos Effect

Since 2012, the Taco Bell Doritos Locos Tacos have enjoyed reigning status as the stunt-iest and most successful of all stunt foods. The degree of the present-day success in the Doritos Locos might have seemed impossible back during the initial release. Naysayers cried end of the world, perceiving the combination as the nadir of our cultural forays into lowbrow indulgence. Yet Doritos' infamous cheese-flavored crunchy taco shell filled with the familiar Taco Bell mix-ins soon became the gold standard for fast food perfection. Even those highbrow foodies, many of whom tongue-in-cheek-ly deplored the entrée, considered breaking their fast food hiatuses . By July 2014, Taco Bell surpassed $1 billion in Doritos Locos sales.

While the public was initially shocked by the munchies-minded partnership between Doritos and Taco Bell, many in the marketing sector saw the collaboration as inevitable. "Looking at Taco Bell and Doritos, that was a no-brainer because Yum! Brands [the parent company of KFC, Pizza Hut, and Taco Bell] used to be part of PepsiCo, and PepsiCo also owns Frito Lay," says Ronald Goodstein, an associate professor of marketing at Georgetown University. "The way most people determine if that's going to work is 'Is there a fit between the parent brand and what you're extending to?'" he says. "So the idea of putting meat inside a Doritos Shell, that's really logical."

Stuckey echoed Goodstein's analysis of the Doritos Locos' marketability, adding that the success for any sort of stunt food predominantly depends on the recipe accomplishing a trifecta of requirements. "I think you do have to have culinary logic you have to have a foot in the familiar and you have to have novelty," Stuckey said. "And it's hard to get the intersection of those three things."

Stuckey claimed that unlike most other stunt foods, Taco Bell and Doritos' hybridized wunderkind wasn't a flippant act of tossing bacon into a milkshake or formulating an instant food coma with a triple-patty hamburger flush with hot dogs and potato chips. There was culinary logic, as it's not unfounded to dunk Doritos or corn chips into various meat or cheese sauces. And in terms of a market fit, the regulars and outsiders could appreciate the product.

The Mountain Dew-flavored Zesty Citrus Wings. Courtesy Buffalo Wild Wings

The Pursuit of the Locos Effect

According to Kronebusch, after signing deals for both the 2016 Citrus Bowl and an exclusive partnership with PepsiCo (Mountain Dew's parent company), Buffalo Wild Wings had the opportunity to up the ante with a new product. The Perfect 10, in their eyes, was a product inherently tasty, but also intriguing such that both parties' loyalists as well as the disbelievers such that they would try — and even fall for — the same product that had spurred harsh diatribes. "We recognize that Mountain Dew is a very strong brand and it resonates with a lot of our consumers," Kronebusch says. "This is one of those things where we want the believers and naysayers to go. 'This is fantastic!'"

Beginning with Buffalo Wild Wings' desire to create a sticky-sweet promo for the 2016 Citrus Bowl, the brand's culinary teams joined forces with those from PepsiCo as well as additional third-party food brand Cargill Foods: B-dubs formulated the menu item's complex flavor profile PepsiCo and Mountain Dew served as test tasters to give the ultimate thumbs-up for flavor and presence of Mountain Dew and Cargill actually produced the sauce according to the two companies' likings.

The keys to a successful stunt food: culinary logic, a foot in the familiar, and novelty.

Similar to how Doritos Locos have their affiliation with midnight munchies, the Zesty Citrus Sauce-covered wings recall the untamed spirit of high school and college ragers. But according to Stuckey, the Zesty Citrus Wings aren't such a drastic product after all when diners take a step back to recognize what Mountain Dew is: a sweet, carbonated beverage. She explained that soda is a widely-accepted ingredient in recipes, particularly Southern classics like Cola-braised pork shoulder. As Kronebusch echoes, the brand really wanted to make the wings, well, edible.

Before they went off-menu, I took a trip to the Times Square Buffalo Wild Wings location to sample a few of the Zesty Citrus Wings. Surrounded by glowing screens playing muted soccer games and business workers in their suits sucking the meat off wings during their lunch break, I had at my disposal 10 of the alleged culinary abominations, complete with the suggested Mountain Dew pairing. They defied all expectations visually, featuring a glaze of brownish-orange sauce versus the iconic nuclear waste electric green. The smell was pretty strong though, although not so much Mountain Dew as a strong Hi-C orange concentrate aroma. And, as much as I really wanted my preconceived "this-can't-be-real-so-it-must-be-bad" mindset to be right, they actually tasted, well, good.

The wing experience offered depth and complexity — essence of Mountain Dew's fructose-y citrus flavors, rounded out with fragrant lemongrass and ginger, and savory notes such as salty soy sauce (BWW reps would not confirm what exactly was in the recipe). It was kind of like gnawing on bone-in Orange Chicken, and if it weren't for the sugar overdose from the 20-ounce glass of electric green Mountain Dew, I probably would've ordered another round. To my surprise, I'm not alone in such considerations.

Buffalo Wild Wings declined to provide numbers for their sales of the Zesty Citrus Wings, but Brian Silverman, the manager of Buffalo Wild Wings's Times Square location, claimed that out of 300 orders placed each day at their location, approximately 50 included some amount of the Zesty Citrus flavor. While this isn't proof that the Zesty Citrus Wings out-stunted Doritos Locos, these numbers prove the product is far from a flop.

Stunting Hard or Hardly Stunting

Whether or not the Zesty Citrus Wings have succeeded the Doritos Locos stunt throne, there's the underlying question of whether or not fast food restaurants should continue creating new stunt food recipes. On the Internet, we still see people decrying new stunt food innovations just as soon as the culinary teams are rolling their works out of the kitchen. However, Denise Lee Yohn, a former marketing expert at Jack in the Box, said that while the idea for a menu item might sound gross, if customers are willing to order it for reasons beyond the stunt factors, then why not experiment?

"As long as they execute it well, as long as the product actually tastes good, and people like it, then they should do it," Lee Yohn said. But f ast-food restaurants (and experimental Michelin-starred kitchens, for that matter) have to gauge in the early stages of product development how much of a demand exists essentially, they have to predict whether the fixed costs of R&D, promotions, and sales of new items (alongside variable costs for cooking the item) will at least be covered by the revenue sales, both from the new weird product as well as the menu staples. While Michelin-starred restaurants can rely on prestige, fast-food restaurants resort to press and promotion for new products.

Stuckey noted that some restaurants use stunt foods like the Burger King Bacon Milkshake solely to generating buzz. "If you do something and it feels stunt like or outlandish, you're likely to get a press," Stuckey explained. "So what they're trying to do is trying to generate press. They don't care if you order that product — it's all about keeping brand on top of line. If you order the buffalo wings [instead of the Citrus ones], they're perfectly happy because they got you in the store."

"They don’t care if you order that product — it’s all about keeping brand on top of line."

Others products such as the Doritos Locos, she explained, are actually intended for use beyond garnering press. Just a quick Google search reveals the wide-range of news stories (read: free promotion) that covered the Doritos Locos over the past four years, but the success of the Doritos Locos is visible simply in the numbers. Taco Bell enjoyed a positive change in sales between the original products' inception in Q1 2012 until Q1 2014, with the introduction of the Chicken Doritos Locos, revealing sales stretching beyond the initial news shock. Thus, one could conclude that the stunt of the Doritos Locos was justified.

Buffalo Wild Wings refused to disclose any information pertaining to the restaurant's sales and costs of marketing and investment upon request. However, if Buffalo Wild Wings Zesty Citrus Sauce-menu items hypothetically cost $1 million on R&D and promotion, which generated news stories like this one that piqued customers interest in B-Dubs, all of which ultimately lead to an overall growth of B-dubs revenue sales of more than $1 million, then it would justify the stunt. We could even begin to see a possibility of the item becoming an indoctrinated member of the Buffalo Wild Wings menu, similar to the story of Buffalo Wild Wings' Bourbon Honey Mustard Sauce. If, on the other hand, there was no growth and the Zesty Citrus Sauce was merely generating short-lived buzz that brought in curious patrons, without providing an uptick in sales overall, then the product truly was a futile chase at the Doritos Locos cheese.

Ultimately, aside from our unjustified sense of foodie morals that demand we quell the development of cataclysmic recipes, the market forces of demand and positive profits are what determine whether or not these stunt food experiments should pervade. There is no magic formula aside from shooting for Stuckey's trifecta, and even then what the guys back in the kitchen considered a success, many of consumers might not perceived such products as worthy of their interest, stomachs, and wallets. But whether it's luck or pure genius, every now and then, there's a product like the Doritos Locos that piques a wide consumer audience's interest, enough to break out of the organic qua non-GMO fast casual circuit, shell out a few dollars, and try something, well, weird.

"Fast food will always have the items that seem very indulgent, that seem unhealthy, that seem over the top," said Lee Yohn. "And I think that's part of the role that fast food plays in this culture, and that people want fast food to play."


How Taco Bell's Lead Innovator Created The Most Successful Menu Item Of All Time

Taco Bell released the product in 2012 and sold more than a billion units in the first year. The fast food company had to hire an estimated 15,000 workers to keep up with demand.

The taco had been discussed internally for years.

But it took serious commitment from product developer Steven Gomez to actually make it happen.

The Doritos Locos Taco would be the greatest challenge of Gomez's career.

Gomez earned his master's degree in Food Science from Rutgers University. He cut his teeth at the Pepsi brand, developing Sierra Mist and Gatorade products.

He joined Taco Bell in 2006, and quickly worked his way up to management in its Irvine, Calif. headquarters.

When Gomez first heard the idea of making a crunchy taco shell out of Doritos, he was enthusiastic.

" When the idea for the Doritos Locos Tacos came out of a collaborative ideation with Frito-Lay, we immediately saw the potential," Gomez told Business Insider.

But when Gomez and his team began to work on the idea, they began to realize it was easier said than done.

"The idea sounds really simple, but it has to deliver on two fronts: the classic Taco Bell taste and the distinctive Doritos experience," Gomez said. "Unlike a tortilla chip, taco shells can’t break, and have to properly hold the taco ingredients."

"When consumers tried them, they said it was a great idea but didn’t deliver on their expectations," Gomez said.

Test consumers complained about the taste and the texture, Taco Bell executives told Austin Carr at Fast Company. The shell didn't capture the zesty flavor of a Dorito, or the crunch of a Taco Bell taco.

Instead it was a "displeasing amalgamation of the two flavor profiles," Carr wrote.

Customers also wanted to get cheese dust on their fingers after they ate a Doritos Locos Taco, because that was the experience they got when eating the chips.

But seasoning the tacos was a challenge. Orange dust got everywhere, presenting a possible hazard to workers.

The team went through more than 40 recipes, and Gomez told Business Insider he sometimes felt like the idea would never come to fruition.

"Execution was so difficult," he said.

Gomez was eventually able to perfect the shell by using the same corn masa found in Doritos. He also discovered a process that would evenly distribute the seasoning on the shells. And the company found a way to contain the cheese dust in the production process.

Even after Gomez created the ultimate shell, he still had to design production facilities that would make millions of them.

But for Gomez, the years of effort was worth it.

" When we shared the idea with our consumers, they loved it," Gomez said. "I was blown away with how immediately popular Doritos Locos Tacos became."

The taco is the most popular menu item in the fast food chain's 50-year history.

"The moment of truth was the reaction of our customers," Gomez said. "When they give it two thumbs up, we knew we had a winner."

He was also awarded the President's Award, Taco Bell's highest honor, in 2012.

In addition to the Nacho Cheese version of the taco, Taco Bell has released Cooler Ranch and Flamas versions.


Taco Bell is nevertheless creative

Even though much of the Taco Bell menu does indeed feel like variations on a theme, the chain nevertheless manages to innovate with some of its offerings. Over the years, Taco Bell has introduced creative choices that deviate from the norm of the rest of its menu, like the Mexican pizza (no surprise, really, considering that Taco Bell often shares space with Pizza Hut). More often than not, these novelty items really take off, becoming cult favorites.

The chain's fiesta potatoes, for example, have truly taken on a life of their own, and when the chain announced it would be removing the cheesy, seasoned potato wedges from its menu in the summer of 2021, fans of the vegetarian option took the Internet by storm, not only innovating their own homemade copycat iterations of the dish, but also complaining, whining, and generally causing a ruckus until Taco Bell finally agreed to bring the option back.


Former Taco Bell interns claim they invented Doritos tacos in 1995

Four former Taco Bell interns are claiming they are the real masterminds behind the chain’s Doritos Locos Tacos. One of the ex-interns, Andrea Watt, says she came up with the idea to make a Doritos taco shell in 1995, years before the Irvine-based chain launched them in 2012.

The idea was submitted to Taco Bell executives during an intern competition to pitch ideas for Taco Bell appetizers called “Mexitizers.” Watt, 20 years old at the time, and three other college students pitched the idea for the shells.

Photos on the Huffington Post show Watt and her fellow interns with mockups of the tacos, which were triangular in shape and to be sold for 79 cents. The idea was rejected at the time.

“I would just like someone to recognize that it was a good idea,” Watt tells the Huffington Post.

But she insisted that she doesn’t expect any part of the more than $1 billion in sales racked up by Doritos Locos Tacos.

Watt claims to have originally pitched nacho cheese and cool ranch shells, the two flavors Taco Bell currently has on its menu, along with a fiery Doritos variety.

Others have claimed to have come up with the idea before, including the now-deceased Todd Mills, who launched a Facebook campaign in 2009 to have Taco Bell make Doritos taco shells.

And last year, a federal prison inmate in Texas sued Taco Bell executives, claiming they stole his idea for the shells after he sent it to them as one of nine product concepts in a letter.

“From interns to inmates, we’ve had no shortage of people claiming to have thought of the ‘idea’ of a Doritos flavored taco,” said Rob Poetsch, director of public affairs and engagement for Taco Bell. “The Doritos Locos tacos that our fans love were conceived, developed and successfully brought to market by a hard-working, collaborative team at Frito-Lay and Taco Bell.”


Pepsi bought Taco Bell in 1978

Taco Bell is currently owned by Yum! Brands, which also owns KFC, Pizza Hut, and several other chains (which explains why you'll sometimes see a combo KFC/Taco Bell or Taco Bell/Pizza Hut). But it wasn't always so. While Taco Bell started off as an independent chain of franchises, in 1978 PepsiCo bought Taco Bell from company founder Glen Bell for $125 million.

Apparently, PepsiCo had been interested in Taco Bell since the early '60s after seeing how successful it had become. They even went so far as to buy a midwestern franchise called Taco Boy that they rebranded as Taco Kid, operated under the Pizza Hut brand, hoping it could be a competitor. When Taco Kid failed to thrive under PepsiCo's ownership, they decided to just buy Taco Bell instead.

Eventually, PepsiCo spun off their restaurant properties into a separate entity, Tricon Global Restaurants, which is now Yum! Brands. But PepsiCo and Taco Bell still work together. Taco Bell serves PepsiCo brand soft drinks to this day, and PepsiCo is the owner of Frito-Lay, the maker of Doritos and Fritos, both of which are included in certain Taco Bell menu items (like the Doritos Locos Tacos and the Beefy Fritos Burrito).


Chrissy Teigen's Ingenious Taco Hack Is a Gift to Us All

Chrissy Teigen basically knows how to make everything in life better, whether that includes sharing her signature recipe for beignets or her willingness to call out the haters on social media so she can just liiiiive. We thought we couldn’t stan harder but then she dropped the most major food hack in recent memory to her Instagram story: how to make homemade copycat ranch Doritos Locos tacos with a simple crispy taco shell transformation.

Doritos Locos tacos are a Taco Bell specialty, one so popular that they sold $1 billion worth of them in the first year that they were on the menu. But sometimes we just don’t want to go see our friends at the local Taco Bell drive-thru (for like the third time in one day). Other times, we’re simply not allowed back after that fire sauce incident. UHHH theoretically speaking, of course. Anyway, Tiegen came up with the perfect solution for those times when you’re craving The Bell but just can’t bring yourself to leave the house.

More from SheKnows

First, she starts with a classic ground meat taco filling.

Then, she toasts some crispy taco shells.

The final touch? She sprays the shells with oil, then sprinkles on some homemade cool ranch seasoning.

Judging by the look on her face as she digs in, it tastes as good as it sounds!

Even if you don’t feel like making your own ranch dressing, you could always pop open a packet of the dried ranch dip seasoning and use that instead, adding extra spices until it tastes just right.

This isn’t the first time Teigen has pioneered new ways of eating tacos. She freed herself from the unnecessary shackles of the human shirt and ate a taco in her bra in 2015, which was honestly the most relatable thing I’ve ever seen a celebrity do.

Here’s hoping she’ll share all of her taco hacks, recipes and otherwise, when her new food website launches.

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Taco Bell on Verge of Comeback: Sells 100 Million Doritos Tacos in 10 Weeks

There's a new product on the market that is selling like hot cakes, with 100 million units sold in just 10 weeks. And no, it is not the iPhone or any other Apple product.

It's Taco Bell's new nacho cheese flavored Doritos Locos Taco, which sells for $1.29 and features a shell made from a Doritos chip on the outside, maintaining the same taste as a Taco Bell classic crunchy taco on the inside.

"To put some perspective on the 100 million tacos sold, Taco Bell notes that McDonald's sold its first 100 million burgers in 1958 — 18 years after the first McDonald's burger stand opened, and three years after Ray Kroc started his first McDonald's franchise," reports The Orange Country Register.

The new taco — which debuted in Taco Bell's 5,600 stores on March 8 — has quickly become the company's most successful product launch in its 50-year history. It even led its parent company Yum Brands (YUM) to a 73% profit jump in the first quarter of this year.

You can safely bet the Doritos taco won't end with the nacho cheese flavor. This fall Taco Bell will launch its Cool Ranch rendition. There is also a Hot & Spicy version in the works. In fact, the possibilities are really endless when you consider the fact that Doritos-maker Fritolay produces more than 100 flavors of the chip.

Taco Bell: A Comeback in the Making?

After a handful of brand-damaging incidents over the past couple years — including E. Coli and salmonella outbreaks and a lawsuit questioning whether its taco meat was really beef — Taco Bell faced declining same-store sales. In the first three quarters of last year, the company saw sales decline 1%, 5% and 2% respectively. But in the last quarter of 2011, things started to look up and that momentum has carried through to the first quarter of this year with same-store sales up 6% from the previous year.

"To be a better Taco Bell, the obvious solution was the Doritos Locos Tacos," said Taco Bell CEO Greg Greed in May, reports National Restaurant News. "People love it, it's driving frequency among our heavy users, and we're selling it at a 30-cent premium. … It's really a platform we can build off, not a one-off LTO, and we can drive it for years to come."

Taco Bell may very well be on the verge of a comeback. It has revamped its slogan to "Live Mas" and continues to reinvent its menu to offer customers additional options, including upscale items which are coming soon to a location near you.

On Wednesday, the company announced it will take its new Cantina Bell menu nationwide starting July 5. Brian Niccol, a Taco Bell executive, has called the menu "gourmet Mexican."

The menu was influenced by celebrity chef Loren Garcia — a judge on "America's Next Great Restaurant and contestant on the upcoming series of "Top Chef Masters"— and includes burritos or bowls with the option of chicken, steak or vegetables. There is also the option for upgraded ingredients never before seen at Taco Bell, such as black beans, cilantro spiced rice and dressing and all-white meat chicken marinated in an herb-citrus sauce.

Items on the new Cantina Bell menu are priced below $5 and will compete with other upscale fast-casual Mexican eateries like Chipotle (CMG) and Qdoba.

But Taco Bell's new menu doesn't stop there. The company is currently testing its new breakfast menu in 750 locations across 10 Western states and hopes to expand it to the East Coast later this year and will continue to debut that menu nationwide through 2014.

As the company rebuilds its image, it is standing by all of its new products, offering unsatisfied customers their money back. Apparently, Taco Bell has always had a 100% percent customer satisfaction policy, but is now for the first time advertising it to customers.

Only time will tell if Taco Bell can maintain its momentum, but here's some food for thought. One analyst does predict "Taco Bell could have a McDonald's-like year," reports USA Today.

Tell us what you think! Have you tried a new Taco Bell Doritos Locos Taco?

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A close over 89.795 will form a closing price reversal bottom. If confirmed, this could trigger the start of a 2 to 3 day counter-trend rally.

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(Bloomberg) -- Felix Dian is in fighting spirits after this week’s crypto meltdown.Like many pros, the former Morgan Stanley trader says Bitcoin’s volatility actually shows why hedge funds are in the digital-currency game: To ride boom and bust cycles with diversified bets so clients don’t get killed at times like this.Something is working. His $80 million crypto-focused fund at MVPQ Capital is up 14% in May and has more than tripled in value this year. In contrast, Bitcoin has plunged almost 30% this month, cutting the advance for 2021 to 42%.“We had kept dry powder,” he said in an interview from London. He took advantage of Wednesday’s price collapse and bought Bitcoin when it was trading around $35,000.Crypto-Crash Autopsy Shows Billions Erased in Flash LiquidationsNot everyone’s been so lucky. Scores have seen their fortunes dashed this week in a cascade of selling across crypto markets. Investors spent some $410 billion buying up Bitcoin during this bull market, according to data from Chainalysis. When prices sank to $36,000 this week, $300 billion of those positions were at a loss.It’s left money managers wrestling with whether the digital currency, which is coming under new regulatory scrutiny in the U.S. and China, still has the makings of a serious asset class or will remain nothing more than a speculative bubble.Bitcoin hovered around $40,000 on Friday, trading up 1% as of 7:15 a.m. in New York. The token has lost 35% since hitting an all-time high of $63,000 in April.Charles Erith, who worked for 24 years in Asian emerging markets before jumping to crypto, said the speculative froth was flushed out this week. He bought Bitcoin as prices were plunging.“At $35,000, we felt it’s a reasonable level at which to be adding,” said Erith, who runs ByteTree Asset Management in London. “It’s obviously not regulated and it’s a very young asset, but I don’t think this is going to be a revisit of 2018.”Data from research firm Chainalysis shows professional investors used the crash as an opportunity to start buying at cheap levels, helping put a floor under the market. Big investors bought 34,000 Bitcoin on Tuesday and Wednesday after reducing holdings by as much as 51,000 bitcoin in the last two weeks, according to data from Chainalysis.“People that were borrowing money to invest, they were wiped from the system,” said Kyle Davies, co-founder at Three Arrows Capital in Singapore. His firm bought more Bitcoin and Ether as prices of the tokens tumbled this week.“Every time we see massive liquidation is a chance to buy,” he added. “I wouldn’t be surprised if Bitcoin and Ethereum retrace the entire drop in a week.”Over in Paris, Loan Venkatapen, founder of Blocklabs Capital Management, blames the recent rout on over-leveraged retail investors but says blockchain and the related technologies “are here to stay.”Unlike Davies, Venkatapen avoided Bitcoin, but bought Ether, Solana and other assets connected with the decentralized finance movement as they sold off.“Bitcoin is not dying, but we expect productive blockchain assets such as Ethereum or Solana to challenge Bitcoin dominance in the coming months,” he said.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

Zara owner Inditex to close all stores in Venezuela, local partner says

Inditex, owner of brands including Zara, Bershka and Pull & Bear, will close all its stores in Venezuela in coming weeks as a deal between the retailer and its local partner Phoenix World Trade has come under review, a spokesperson for Phoenix World Trade said. Phoenix World Trade, a company based in Panama and controlled by Venezuelan businessman Camilo Ibrahim, took over operation of Inditex stores in the South American country in 2007. "Phoenix World Trade is re-evaluating the commercial presence of its franchised brands Zara, Bershka and Pull&Bear in Venezuela, to make it consistent with the new model of integration and digital transformation announced by Inditex," the company said in response to a Reuters request.