Whole Foods Plans Chain Of Cheaper, Smaller Stores

(RTTNews) - Whole Foods Market Inc. (WFM), a retailer of natural and organic foods, said it will open a new chain of smaller and cheaper stores to target young customers. The company is currently negotiating leases for the chain, which will be opened by next year. Name and other details of the new brand will be announced in a few months.

Walter Robb, co-CEO of Whole food said the new chain will be appealing to anyone looking for high-quality fresh food at great price. He added that the new and complementary brand will have growth potential equivalent to its Whole Foods Market brand.

The company is aiming at streamlined, technology oriented stores that can attract new-gen customers.