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365 by Whole Foods Market Is the New Grocery Store for Broke People

It will open later this year.

Spencer Platt/Getty Images

Pricey grocery store Whole Foods' new brand of more affordable stores officially has a name. According to the American-Statesman, it will be called "365 by Whole Foods Market." The name is based off of Whole Foods' in-house brand, 365 Everyday, and those products will feature prominently in the new stores. Co-CEO Walter Robb tells the Associated Press that while the 365 products "will anchor the stores," the chain will also have items from other national brands.

Photo: Official

Photo: Official

Ever since news broke about the concept in May, there has been much speculation regarding what the name would be. Analysts and researchers guessed that the store might be called names like Dailyshop, Greenlife, Small Batch, Swiftgoods, or Clever Egg based off of trademark filings. However, Robb admits to the AP that those filings were all "decoys."

While 365 by Whole Foods Market's name is far from streamlined, Robb promises that the stores will have a streamlined design when they open. He adds that the stores, which are "geared towards millennial shoppers," will also feature "innovative technology and a curated selection." The stores are slated to open next year.