Whole Foods' millennial-friendly concept has a name – and it's one that customers already know.
The grocery chain announced on Thursday that its new "streamlined, value-focused" chain will be called 365 by Whole Foods Market. "365" references an existing Whole Foods line: the "365 Everyday Value" house brand, which includes everything from organic almond butter to hand soap and is currently sold as a less expensive option at traditional Whole Foods locations.
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," 365's newly appointed president Jeff 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."
The concept is slated to begin opening in 2016. Whole Foods plans to open between five and 10 365 locations next year, with 365 eventually growing as large as the original Whole Foods chain, reports the Associated Press.
When Whole Foods announced the new concept in May, the company said the then-unnamed brand was "geared toward millennial shoppers," as a convenient, transparent and values-oriented grocery option. However, the chain has also specified that it doesn't expect all customers to be under the age of 30 – executives say 365 will appeal to anyone looking for fresh and organic options at lower price points than traditional Whole Foods locations.