Wow concept store in Madrid
What: The 5,500 sqm eight-storey store is a shopping destination for a young and forward demographic.
Why it is important: Dimas Gimeno Álvarez, the former president of El Corte Inglés, has created a concept store that's specifically geared towards savvy Millennials and Generation Z shoppers and blends brick-and-mortar retail with digital shopping.
The interior design, created by Barcelona-based multi-disciplinary studio External Reference, sees an abundance of striking photogenic settings that resonate well with the target demographics The. forward design theme, which actually sounds like a scientific experiment, is based on 'nature-related technology that evolves with the capabilities of humankind, aiming for an ecological balance'. The settings feature programmable lights which allows to continuously change the atmosphere and effortlessly integrates with displays and installations. Additionally, large-sized Italianate sculptures dipped in an electric pink hue and partially pixellated, dot the floor and serve as additional product displays.
The product offer includes branded shop-in-shops, archive space, streetwear, fashion and accessories, homeware collections, technology equipment, gaming devices, books, completed by two restaurants.
Wow's challenge is to profit from its risky venture. The project received €8 million in its last investment round and invested significantly on infrastructure and supply. What are the prospects in economic terms? "For the moment, we are going to ask for growth and to be close to positive Ebitda in the first year of operation," added Gimeno.