The Portland Business Journal reports that Portland,Oregon-based New Seasons Market will open its first store in California this month in San Jose, "setting the stage for a southern expansion that could eventually add one to two new stores a year in the Bay Area." New Seasons, backed by Endeavour Capital, "is converting one of the eight New Leaf Community Market stores it acquired in 2013 after customers there asked it to carry more than natural and organic products."
- KC's View:
The story makes the point that the conversion has taken place over a year, as New Seasons wanted to get the mix absolutely right. If this works - and I have a lot of confidence in the New Seasons folks - it could set the stage for some interesting developments. Don't forget, the New Seasons CEO, Wendy Collie, comes out of Starbucks ... and she knows a lot about how to ramp up an expansion while maintaining cultural integrity.
In addition, it is worth noting that Endeavour also has ownership stakes in both Bristol Farms and Metropolitan Markets, two wonderful West Coast independents ... so it has a lot of brain power and marketing raw material to work with as it looks to expand its retail footprint.