Ikea tests in Madrid its future urban store

It will invest six million euros in a 2,000 m2 downtown establishment that will generate 60 direct jobs

Ikea has chosen six major cities to experiment a new store concept that could become its model for the future. Madrid has been chosen, together with London, New York, Stockholm, Vienna and Shanghai, to continue with this transformation strategy and test new innovative formats.

After the successful inauguration of the Ikea space on Madrid's Serrano Street almost a year ago, the company has once again placed its bets on the capital to open a large store on Goya Street next summer. This initiative entails an investment of over six million euros and the creation of 60 direct jobs.

The second Ikea urban store in Madrid will occupy a space of over 2,000 m2, exclusively dedicated to living rooms, with a format that intends to attract customers by combining shopping and entertainment.

Return to downtown
The return to downtown is a phenomenon to which hypermarkets first gave in, downsizing for the sake of gaining proximity. Other large retail stores, like Decathlon, Leroy Merlin and Ikea itself, have followed the same path this year, consolidating this option to satisfy its customers' demand for proximity, adaptation to new shopping habits, and personalized and consulting services.

Ignacio Navarro, Manager of Expansion and Assets at Ikea Ibérica, says “the success in terms of visitors in our establishment on Serrano Street has given us the clue to follow to place our bets on new formats that satisfy our customers' needs. For us, ongoing listening is vital, and this new concept materializes many of our customers' demands for us to gain proximity, accessibility and innovation”.