Earlier this summer, Whole Foods announced plans to open a new chain of smaller stores with lower prices. The new chain would be named “365 by Whole Foods Market,” in a nod to the brand already sold by the grocery chain. Whole Foods is following through with its plans, having announced the locations of the first five stores. The first store locations are slated to open in the second half of 2016, with plans to double the number of openings in 2017. The first location will open in the Silver Lake neighborhood of Los Angeles. According to a release, the company made a “strategic decision” to renegotiate the lease in development for the Silver Lake location, converting it from a Whole Foods Market to a 365 by Whole Foods Market Store. “We think the Silver Lake area of Los Angeles is an ideal community to plan our first 365 store flag and bring a modern shopping experience that draws from the best innovations of Whole Foods Market stores and gives them a new expression,” said Jeff Turnas, president of the new chain. Turnas is a 20-year veteran of Whole Foods, and was appointed to lead the retailer’s new store brand in June. The remaining four locations will open in Bellevue, Wash., Houston, Portland, Ore., and Santa Monica, Calif. According to an earlier statement, the new chain aims to bring “quality-meets-value shopping that’s fun and convenient.” The new store concept is geared towards millennials, as Whole Foods faces intensifying competition from traditional supermarkets and big box retailers. Whole Foods currently operates 10 stores in Canada, although co-owners Walter Robb and and John Mackey have suggested the chain is likely to expand throughout the country.