Stores & Spaces (159)
The next chapter in fashion retail
STORY started as a startup fashion retail store and has now become a permanent pop-up shop: same location, but new retail layout every 4-6 weeks. Each month is a new “chapter”, such as COLOR, with an art-gallery installation feel, the point of view of a fashion magazine, and sells items like a small boutique.
Why it matters
The retail landscape is in flux due to a tension between bricks-and-mortar and online stores, and retail spaces need to become more than just a transaction-based consumer experience. Many stores will rotate merchandise to keep it fresh, but STORY has tapped into a retail experience that transcends the clothing for sale. They sell a fashion trend, not just articles of clothing and accessories, that is gone as quickly as it comes in. Can this transcend fashion retail and become a viable retail model to save bricks-and-mortar? How can you tell a new story through the store experience with your product or service?
Japan’s luxury market is worth between $15 billion to $20 billion. Yet the ‘mass luxury’ market is feeling unprecedented pressure. Sales are down sharply, luxury goods companies have warned that they won’t meet their current growth and earnings targets, and dire headlines proclaim the market’s decline.
Retail developers in Dubai are being cautioned to delay or scrap plans for the omnipresent mammoth malls in favour of smaller suburban shopping centres. The sheer size and grandeur of the developments are considered too risky in the economic climate where consumers appear to be beginning to reject such conspicuous consumption.