It's here: Whole Foods has officially unveiled the details of its new, value-oriented chain, called 365. And basically, it appears to be trying to be Urban Outfitters.
In particular, the new stores, the first three locations of which will open later this year, come with a new feature, called "Friends." According to 365's official website, 365 Friends will be independent businesses or brands set up within a Whole Foods.
What kinds of businesses? Let's see:
Friends of 365 may be any type of business—from food and drinks to fashion, body care products, services, and more," the website says. "(Record shop? Tattoo parlor? Maybe!) And each 365 store may have a different mix of friends. The more variety, the merrier!
I would definitely get a tattoo at Whole Foods.
The aggressive youth targeting is also apparent in the company's official 365 press release, which includes the following buzzwords:
- Innovative technology
- Carefully curated
- Grocery shop, used as a verb
Whole Foods has seen better financial days of late. Its share price has returned to 2011 levels, having fallen more than 50% over the past few years as cheaper competitors have rolled out their own organic offerings. Last fall, the company announced it was cutting 2,000 jobs.
Rob covers business, economics and the environment for Fusion. He previously worked at Business Insider. He grew up in Chicago.