Whole Foods Announces Lower-Priced Spin-Off Stores Are in the Works
Millennials love Whole Foods. But millennials are also poor. So, in an effort to resolve this contradiction and hopefully shed some of their “whole paycheck” reputation, the brand announced they’ll be opening a new, separate chain of stores with lower prices aimed specifically at those underpaid twenty-somethings who still love everything natural and organic.
During yesterday’s second quarter earnings report, Whole Foods co-CEO Walter Robb explained that these new stores will have a “modern, streamlined design, innovative technology and a curated selection." And though they’re targeted at a younger audience, don’t worry: There won’t be a bouncer at the door. Robb continued that the new chain will appeal “to anyone looking for high-quality fresh food at great prices.”
Details are still sparse, though the brand said they’re already figuring out locations for the new chain, where those locations will be and when they will open is still under wraps. The only timeline provided was that the new stores would begin opening next year and that more details would be revealed by Labor Day. Whole Foods co-CEO John Mackey was, however, willing to admit that these new stores would be “hip, cool and tech-oriented.” I’m sensing some possible Apple Watch integration!
Whole Foods also declined to provide a name for the new brand, though someone should remind them that “Trader Joe’s” is already taken.