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July 01, 2015 |  323 Views
Whole Foods Goes 365 for Millennials
By Cocktail Culture Staff

2016 will be the dawn of a new line of stores tailored to a younger millennial audience. The value-oriented 365 by Whole Foods Market chain will offer convenience and low prices on natural and organic products. 365 is Whole Foods existing generic store brand which offers lower priced knock-offs of other brand-name goods. 

Jeff Turnas, a 20-year Whole Foods veteran, will serve as president and will be based in Austin, Texas. 365 will be “A modern, streamlined design with innovative technology and a carefully curated product mix will offer an efficient and rewarding way to grocery shop,” said Turnas. “This is a big endeavor.” 

 In a YouTube clip, Turnas, sporting long hair and a hoodie, says that the 365 by Whole Foods Market experience will be both "efficient and rewarding" as well as "fun and convenient" and “hip” and “cool.”

Whole Foods’ shares have lost 20 percent of their value this year, compared with a 2.4 percent gain for the Standard & Poor’s 500 Index. The stock recently fell 0.4 percent to $40.58. The slowing growth has caused a stock slump as well.

The move is intended to reinvigorate sales, get back its pioneer image, and compete with Wal-Mart Stores Inc. and Kroger Co. who have been moving deeper into natural and organic foods. Currently, Whole Foods has about 417 locations with plans to increase that to 1,200. The chain has strived to change the perception that its groceries are too expensive and available elsewhere.

365 will be open 365 days a year– hence the name – and will carry staples, fresh produce and prepared foods.

While the number of stores planned for the chain has not been announced, the company believes 365 has the potential for the same scale as its parent.


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