In an effort to combat the company’s “Whole Paycheck” reputation and bridge the gap between millennials’ interests in natural and organic foods and their perceived lack of disposable income, Whole Foods has officially introduced ‘365’, its upcoming franchise of smaller, value-driven grocery stores. The chain of stores, slated to begin opening in 2016, takes its name after the company’s existing private label brand.
The natural and organic grocery giant first revealed the concept behind the new venture in May, with Whole Foods co-CEO Walter Robb stating that the then-unnamed stores would “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.”
Today, Whole Foods announced that Jeff Turnas will takes the reins as President of 365. Turnas will bring 20 years of Whole Foods experience to his new position, including stints as president of the company’s North Atlantic Region as well as its U.K. region. In a video announcement Turnas called the launch of 365 “a big step forward” for the company, saying the new endeavor will seek to give customers the Whole Foods consumer experience “in a way that will appeal to more people.”
“You’ll be able to do a full shop,” Turnas said. “We’re not looking at a discount model, we’re not looking at a dumbed down version of Whole Foods because we’re never going to sacrifice our quality standards, ever.”