Whole Foods Market's Growth Strategies and Future Prospects
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Case Code: BSTR244 Case Length: 22 Pages Period: 1978-2006 Pub Date: 2007 Teaching Note: Available |
Price: Rs.400 Organization: Whole Foods Market Industry: Retail Countries: The US Themes: Growth Strategy |
Abstract Case Intro 1 Case Intro 2 Excerpts
Background
The history of WFM goes back to 1978, when John Mackey (Mackey), a college dropout from Texas, and his friend Renee Lawson Hardy (Hardy), started an organic foods store in Austin, Texas. The store was called Safer Way Natural Foods (after Safeway Inc.), and the partners opened it with a capital of $45,00011 borrowed from their friends and families.
Safer Way was a 3,000 square foot store, which primarily sold organic food and groceries. The store also contained a small restaurant. The store and the restaurant were strictly vegetarian, and the partners sourced their supplies from local communities.
This was around the time when consumers had started becoming concerned about the use of chemicals and additives in food products, and it wasn't long before Safer Way had found a loyal clientele. But Mackey and his partner had had no business training, and found it difficult to run the business. By the end of the first year, the store had lost $23,000....
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