US wholefoods and organics chain Whole Foods Market, Inc. is going on the offensive as organics becomes more mainstream and has announced the name of its new streamlined, value-focused brand as ‘365 by Whole Foods Market’, smaller footprint, quality-meets-value stores set to open in 2016.
The announcement by WFM comes as some industry watchers say the move cannot come fast enough.
In recent weeks industry trackers have said that Whole Foods is losing at its own game as it’s being outsold in organic and natural food sales by the likes of Costco Wholesale stores, Kroger with its massive private label brands, and Trader Joe’s.
Slated to begin opening in 2016, the new stores will offer convenience and everyday low prices on natural and organic products that meet the company’s industry-leading quality standards.
Jeff Turnas, a 20-year Whole Foods Market veteran, will serve as president of 365 by Whole Foods Market and will be based at the company’s headquarters in Austin. Mr Turnas has held various leadership positions on both the product and operations fronts, including president of the company’s North Atlantic Region, and most recently as president of its U.K. Region.
“We are excited to introduce 365 by Whole Foods Market to bring healthy foods to even more communities with a fresh, quality-meets-value shopping experience that’s fun and convenient,” Mr Turnas said.
“A modern, streamlined design with innovative technology and a carefully curated product mix will offer an efficient and rewarding way to grocery shop.”
For the past 37 years, we have built our company by leading with high quality standards and continuous innovation. We are now excited for the next evolution to extend our offerings to a broader audience in a way that complements our successful Whole Foods Market brand, he added.
Whole Foods market operates 422 stores globally, with 403 in the US, 10 in Canada, and 9 in the UK.