Whole Foods Market is planning to launch a chain of new lower-cost, youth-orientated stores, according to US media reports.
CNN, USA Today, and The Wall Street Journal say that Whole Foods CEO John Mackey revealed the plan during an investor conference call.
Speaking about the new sister chain, he said: “It will be hip, cool, and technology orientated. It will be a very unique concept unlike anything else out there right now – a complementary brand and strategy that sits well alongside the Whole Foods brand”.
He added: “The brand – which stands for the highest quality, the best selection, the highest degree of service – can bend a little bit, but we won’t break it. It will go places the Whole Foods brand cannot effectively go.’
“It will go places the Whole Foods brand cannot effectively go”
The company has hinted that the name of the new sister chain will be revealed in the autumn and that the first store openings will come in 2016.