Saturday morning was free, where many members of the group explored Gran via – Madrid’s most famous retail strip. Here, we were able to see and experience all eight Inditex brands before the visit on Monday, so a morning of research one might say! On Saturday afternoon, the group was met by our tour guide Juan Jose Garcia who took us on a walking tour of historical Madrid. Our first stop on the tour was the Cibeles Square, where we saw the Plaza del Cibeles, a beautiful fountain of a goddess in a chariot pulled by two lions. We then went to the old town Puerta Del Sol and the Neptuno, where we were taken to the heart of Madrid, Plaza Mayor. The square shows off some remarkable buildings, as well as a number of tapas bars, restaurants and unique shops. The sheer energy of Madrid and all its historical offerings made this city a fascinating place to visit. It is a city that knows how to enjoy every minute and not worry too much about everyday dramas. That evening we made our way to Madrid’s oldest paella restaurant, Casa Paella, to enjoy the traditional food and drink (Sangria!). After dinner, a small group travelled to Plaza Santana to witness and take part in the Spanish nightlife - needless to say it was a very entertaining night!
Madrid Walking Tour
Dinner at La Paella De La Reina
Drinks
Sunday 31 August
Sunday was set aside as a full free day and deciding what to do in a city that has so much to offer proved a very difficult task. A big hit was the flea market; it was the place to be with everyone searching for a bargain and local hand-crafted souvenirs. The flea market was certainly the place where the group stocked up on gifts for family and friends back home!
Monday 1 September
Our visit to Inditex (Zara) on Monday was probably the most anticipated of the program and what an interesting and insightful visit it was! What was most interesting to the group was that Inditex tends to not follow any of the rules of marketing, with a ‘zero’ advertising policy for most of its brands, only relying on word of mouth via the customer experience within stores. Also interesting was the company’s primary focus on customer feedback for choices in stock allocation, replenishment and design. Inditex’s fast turnaround in logistics is always impressive; 36 to 48 hours when travelling by truck! The Inditex business model is at the heart of the organisation’s success, which is different to the typical retail model; (1) Customers, (2) Stores, (3) Design and (4) Sourcing. Most interesting is what we learned about the control Inditex has on their portfolio of brands, particularly in having a mock-store and windows to test layout and displays in order to make them perfect and uniform before hitting stores.
After Inditex, the group travelled to Santiago de Compostela and was met by our local tour guide, Manuel, who took us on a walking tour of this amazing city, including what can only be described as one of the most beautiful cathedrals in the world, the Cathedral of Santiago de Compostela (also a World Heritage Site). The city's Cathedral is the destination today, as it has been throughout history, of the important 9th century medieval pilgrimage route, the Way of St. James. Located in the north west of Spain, Santiago de Compostela was also named the "European City of Culture" for the year 2000. On our tour, we were taken down some very narrow winding streets lined with historical buildings, shops, restaurants and informed of many stories of how this highly religious city has evolved throughout the years.
Inditex Group (Zara)
Inditex Group (Zara)
Tuesday 2 September
Packed for the airport, the group headed for our visit to Xanadu where we were greeted by Angelo Moreno, General Manager. During our visit, we were provided with a comprehensive background to Ivanhoe Cambridge and the development of the Xanadu lifestyle retail complex. Madrid Xanadu is the largest snow, entertainment and retail destination in Europe and has Europe’s largest indoor snow sports facility with an 820 foot long snow slope, which is bigger than what we witnessed at the Mall of the Emirates in Dubai! Some of Xanadu’s major retail anchors include Hipercor and Tiendas El Corte Ingles, Forum, H&M, C&A, Zara, Mango, Nike, San Luis, and Area Real Madrid. As the first complex of its kind in Spain, over time, the centre has actually influenced the urban sprawl of the city and has become an increasingly important destination for the Spanish people. With more than 240 retail stores, entertainment, dining and leisure venues including a movie complex, indoor go-carts and high-tech bowling open 365 days a year, Xanadu is Europe’s largest shopping and leisure destination. Angelo left us with a detailed discussion of Xanadu’s centre management, leasing, and marketing strategies, which we were privileged to received in confidence. Before heading straight to the airport, the group had just over an hour of free time to enjoy the retail and entertainment features of the centre. The combination of pleasing colour schemes, architecture, signage and multifaceted offerings made Xanadu a unique shopping and entertainment experience for all!
We flew out of Madrid this same afternoon and arrived in New York late Tuesday night. However, the late night arrival did not stop many of us, who dropped our bags and headed for Times Square by night!
