Whole Foods announced last week that it is launching a “new, uniquely-branded store concept unlike anything that currently exists in the marketplace,” according to CEO Walter Robb in a press release. The stores will still offer the high-quality food the chain is known for but at lower prices.
“Offering our industry leading standards at value prices, this new format will feature a modern, streamlined design, innovative technology and a curated selection,” stated Robb. “It will deliver a convenient, transparent, and values-oriented experience geared toward millennial shoppers, while appealing to anyone looking for high-quality fresh food at great prices.”
The company intends to the new stores to be complementary with the existing Whole Foods stores, and they’re expected to launch next year. Although the brand is touting the stores as new, the concept sounds like Trader Joes, which offers a similar, smaller selection to Whole Foods but at cheaper prices.