Whole Foods is planning to start up a new chain of lower-priced stores for those who can’t afford to buy its premium and organic food.
On Wednesday the company said that the new stores would offer a "curated" selection and simpler design for people who want Whole Foods quality but not Whole Foods prices. This new format is geared toward customers in their 20s and 30s.
According to Whole Foods co-CEO Walter Robb, the company is building a team that will solely be dedicated to this project and is already negotiating leases to build a chain.
On Wednesday the company said that the new stores would offer a "curated" selection and simpler design for people who want Whole Foods quality but not Whole Foods prices. This new format is geared toward customers in their 20s and 30s.
According to Whole Foods co-CEO Walter Robb, the company is building a team that will solely be dedicated to this project and is already negotiating leases to build a chain.
“It will deliver a convenient, transparent, and values-oriented experience geared toward millennial shoppers, while appealing to anyone looking for high-quality fresh food at great price,” Robb said in a statement. “We believe the growth potential for this new and complementary brand to be as great as it is for our highly successful Whole Foods Market brand.” Executives on a call with Wall Street analysts spoke of increasing the “accessibility” of organic food.
The new chain's name has yet to be disclosed. More details later this year. The new chain is set to be up sometime next year.
WRITTEN BY: VIOLA CONSTANCE | @Voila_its_Viola
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