Whole Foods is ready to unveil a new, purportedly less-expensive grocery store chain called 365 by Whole Foods Market targeting a more millennial crowd than its flagship stores. The very first 365 by Whole Foods location will open in the trendy Silver Lake neighborhood of Los Angeles on May 25.
365 by Whole Foods is not meant to replace Whole Foods Market, which has nevertheless been suffering with falling stock prices, but rather to offer the same philosophy to people on a lower budget.
"Basically, we feel that there's a place in the market where these stores can do really well," says Jeff Turnas, president of 365 by Whole Foods Market. "They're not going to be as big as Whole Foods, or have the same depth of experience as a Whole Foods store. They're going to be smaller, more curated, be able to get in, get out, get what you need."
The green-minded new chain also has plans to donate any leftover food to food banks, to compost scraps, and to use LED lighting and low carbon footprint refrigeration.
"I'll think we'll be able to get more and more sustainable in our build as we get more of these open," says Turnas. "The good thing about the 365 stores is that they are meant to be a little bit more consistent in the layouts and the design and build, so it allows us to make decisions that are going to be the same for every store going forward."
The chain will principally be selling Whole Foods’ 365 Everyday Value products, though it will also include “select local and branded products,” according to a Whole Foods release.
Each member store of the new chain will also include in-store partnerships with food retailers and vendors. The Silver Lake location will offer products from “Friends of 365” including by CHLOE, a popular New York-based vegan restaurant, Allegro Coffee Company, and teaBOT tea kiosks. This partnership program allows entrepreneurs who are aligned with the Whole Foods philosophy to establish retail spaces inside of the new 365 by Whole Foods stores.
“With each store, we’re looking to curate a unique experience. Allegro’s craft brew bar will provide a casual place for Silver Lake residents to relax before or after they shop, while teaBOT’s unique service will offer a quick, yet deeply personalized tea-making experience,” said Turnas. Other possibilities may include tattoo parlors, record stores, and estheticians.
The stores will also offer online grocery delivery services thorugh Instacart.
Other 365 by Whole Foods stores set to open soon include locations in Lake Oswego, Oregon and Bellevue, Washington. Both stores will open this summer. Up to 10 stores are expected to open over the course of 2017.
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Image: Whole Foods Market®