Whole Foods Market on Thursday revealed a name for its forthcoming small-store concept — 365 by Whole Foods Market — and said the new division would be led by Jeff Turnas, who most recently led the retailer’s stores in the United Kingdom.
An unspecified number of locations of 365 are slated to open next year and offer “convenience and everyday low prices on natural and organic products that meet the company’s industry-leading standards for quality,” the retailer said in a statement. The 365 name is the same as Whole Foods' value private label tier.
Turnas, a 20-year Whole Foods Market veteran, will serve as president of 365. Turnas has held various leadership positions on both the product and operations fronts, and will be based at the company’s headquarters in Austin, Texas. Turnas has spent the last six years as president of Whole Foods’ United Kingdom division.
“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,” Turnas said in a statement. “A modern, streamlined design with innovative technology and a carefully curated product mix will offer an efficient and rewarding way to grocery shop.”
Company officials revealed plans to roll out the new concept in May, describing the store as a complementary brand that would broaden accessibility to fresh healthy foods. Analysts have been largely skeptical, saying the brand could cannibalize Whole Foods' sales.
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