US natural and organic food retailer Whole Foods Market has announced plans for a 75,000-square-foot flagship store in Central London on Kensington High Street, expected to open early 2007.
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“We are excited to extend the Whole Foods Market mission and brand beyond the United States and Canadian borders and into Europe. The UK is an obvious first choice due to the advanced acceptance of organic foods and the lack of a language barrier,” said John Mackey, Whole Foods Market chairman and CEO.
“We believe this spacious urban location positions us to duplicate the tremendous success Whole Foods Market has experienced in metropolitan cities in the United States, most notably New York City, by providing Londoners with a fresh and innovative choice in shopping for the most delicious and high quality foods,” he added.
The company acquired UK-based Fresh & Wild, a chain of seven natural and organic food stores, in January 2004 and subsequently announced its intention to find a site for a large-format Whole Foods Market store in the London area.
“Kensington High Street will be our first step in expanding the Whole Foods Market brand in the UK and ultimately into other parts of Europe, where we believe the long-term growth potential is tremendous,” said Jim Sud, executive vice president of growth and business development for Whole Foods Market.
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By GlobalDataThe company currently operates six stores within the 60,000 to 80,000 square-foot range, with an additional 17 stores of that size in development.
“We are confident about the potential future returns of these larger stores as we believe they appeal to a broader customer base, will take longer to reach maximum capacity, and are less vulnerable to competition as they create a higher barrier to entry,” Sud said.
