2017: Amazon's acquisition of Whole Foods led to strategic growth of Whole Foods' private-label brand, 365, which boosted sales to $20bn.
Former Whole Foods CEO John Mackey praised Jeff Bezos' long-term thinking that saved the grocery chain after Amazon's $13.7bn acquisition in 2017. Bezos introduced a strategy increasing production of Whole Foods' private-label brand, 365, to lower prices and maintain profit margins. This helped diminish the negative perception of high prices, resulting in Whole Foods' sales surpassing $20bn last year.
June 15, 2024
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