Is Coworking The Department Store Of The Future?
As physical retail adapts to new consumer expectations, non-retail partnerships are beginning to reshape shopping centers by blending commerce and coworking. Earlier this month, WeWork, for example, announced a partnership with Rent the Runway. It also expanded its WeMRKT concept to 500 locations. A young startup, Re:store, is also adding to this new creative wave by merging co-working with retail. The startup provides the infrastructure to bring together independent brands to sell their products in a shared physical storefront. The store also doubles as a coworking space where retailers can opt to work together in an office-type setting. The company’s first location is expected to launch with 60 brands in San Francisco in spring 2019. Participating businesses would pay $350 a month and a 20% commission to Re:store, while $550 would add a coworking space, and $850 a month would enable inventory services and stock management. Read more at Retail Dive.
