In May, Whole Foods Market announced it would be launching a new, separate chain tailored to a younger millennial audience. Now that chain has a name: 365 by Whole Foods Market.

According to a release, it will offer convenience and low prices on natural and organic products. 365 By Whole Foods Market is slated to begin appearing in 2016.

Jeff Turnas, a 20-year Whole Foods veteran, will serve as president of the new concept and will be based at the company's headquarters in Austin. Turnas' previous leadership positions include his role as president of the company's North Atlantic and U.K. regions.

Turnas says in a release that the 365 by Whole Foods Market experience will be both "efficient and rewarding" as well as "fun and convenient," with a modern, streamlined design and innovative technology. You can see Turnas in a YouTube clip, with his tousled millennial hair and casual millennial hoodie, describing the concept as "fresh" and "cool."

Whole Foods shoppers will recognize 365 as the existing generic store brand that does cheaper knock-offs of other brand-name goods.

But do you see yourself going to the store and shouting out to your honey, "Hey, I'm going to 365 By Whole Foods Market!" Probably not. Shortened to initials, it would be 365BWFM; that doesn't sound so great either. It'll probably be more like, "Hey, I'm going to 365."

According to Bloomberg, 365 By Whole Foods Market was not the only name the company considered. Other names included Dailyshop and Swiftgoods.