Finally Affordable: Whole Foods to Launch Lower-Cost Food Chain

Whole Foods announced that it will be investing in a cheaper chain of stores aimed at millennials

Are you consistently shocked at the price of, well, everything at Whole Foods? This new store may be for you.

Whole Foods has finally caught on to the idea that not everyone can afford slow-churned almond butter or organic kalettes at prices that put gigantic holes in your wallet. Today, the fast-growing organic grocery store chain announced during its quarterly earnings report that it will be launching a subset chain of cheaper stores aimed at younger shoppers. So basically, millennials will get the farm-to-shelf experience without shelling out half of their paychecks.

"We've been so successful that we've actually bred a lot more competition and everyone is jumping on the natural and organic food bandwagon, and that's really, frankly, due to our success," CEO John Mackey told CNN Money. "You have to be willing to evolve with the marketplace... to serve your customers."

Although not many details have been revealed yet about the new stores (like when or where they will be opening), Whole Foods said that the company is currently negotiating leases and will release more details by the end of September. Total Whole Foods sales are expected to grow 9 percent in the next year, so maybe they’re feeling lucky.


The Twitterverse remains skeptical: