Organic, high-end grocer Whole Foods announced on Wednesday that it is opening a budget-conscientious chain known as “365 Whole Foods Market.” Silver Lake, a “hipster” neighborhood in Los Angeles, will be the first location, slated to open in the first half of 2016.
According to LAist.com, Santa Monica, California; Bellevue, Wash.; Houston, Texas; and Portland, Oregon will be the sites of four other 365 by Whole Foods Market stores, which will likely be opened in the second half of 2016.
The new Silver Lake store will be nearly 30,000 square feet and may also include a wine bar, according to the Los Angeles Times. The new 365 venture is likely going to have very competitive prices. The 365 stores will reportedly offer less variety but are expected to pose some direct competition to the largely popular Trader Joe’s chain which is a tremendous hit with millennials.
Whole Foods currently carries several of the 365 brands in its original stores, but this venture will be the first budget alternative for the large chain grocer, dubbed by many as “Whole Paycheck” due to its high prices.