After flagging the move last month, Whole Foods Market, the natural foods retailer owned by Amazon, yesterday opened its first new store in the UK since 2014.
The 21,800 sq. ft. outlet is located at 120 King’s Road, Chelsea, London, adding to its five existing sites in the capital. The latest store features new and exclusive food & drink products and local brands from London and across England. It also includes a salad bar, pizzeria, coffee bar, various fresh food counters, and a wellness & beauty department.
“I am thrilled to open the doors of our first Whole Foods Market in the UK in more than ten years here on King’s Road, an iconic street and London destination that is continuously evolving,” said Bianca Rojas, Store Team Leader at Whole Foods Market.
“This store showcases the best of Whole Foods Market and what our customers have come to expect from our stores with fresh, high-quality foods, a strong focus on local producers, and innovative product discovery on every aisle. We can’t wait to welcome customers and bring a unique shopping experience to this neighbourhood.”
Whole Foods Market has more than 535 stores in the US, UK and Canada, with nearly 90 stores in the pipeline.
The business has struggled to make a significant impact in the UK but has recently seen a slight improvement in its results after adding more well-known brands to its product range and introducing more value-orientated options to appeal to a wider audience.
The most recently filed accounts for Whole Foods Market’s UK division (Fresh & Wild) show pre-tax losses eased from £26.3m to £23.1m over the year to 31 December 2023. However, gross margin decreased from 36% to 35% due to inflation and increased supply chain costs. After a 2.9% fall in the previous 12 months, turnover was up 1.7% to £93.1m, driven by higher sales volumes as it regained customers following a drop-off during the height of the cost of living crisis.
After the King’s Road opening, the company hinted that more stores could be on the horizon. Christina Minardi, Executive Vice President Growth & Development, Whole Foods Market & Amazon, said: “We know customers in the UK are seeking high-quality natural and organic products. As we plan for the future, we are actively looking at this market and opportunities to bring Whole Foods Market to more customers there.”
NAM Implications:
- Talk about caution!
- Seriously, Amazon are clearly making this move because the time is right.
- Time for rivals to think again maybe?
