Whole Foods Market, Inc. (NASDAQ:WFM) has announced plans to launch a new chain of stores.

The new chain of stores being launched by Whole Foods will be targeted toward Millennials. The new stores will have a focus on technology and will include products that have lower prices. While the stores will have cheaper prices, the company plans to stay true to its reputation of providing high-quality, fresh food, reports WNCN.

This will be the first time that Whole Foods has attempted to launch a new chain of stores. The company has built a team that is working on leases for locations and concepting the new line of stores. WFM will announce more about its plans before Labor Day, WNCN notes.

“It will be new, it will be different,” John Mackey, co-CEO of Whole Foods, told Los Angeles Times. “It will be unlike any of the other stores you’re seeing out there.”

Whole Foods most recent earnings report had the company exceeded EPS estimates, but not match up to sales exceptions.

WFM shares were down 9% as of Thursday afternoon.

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