Rather than passively watching, Dimas Gimeno, born in Madrid in 1975, decided to turn his knowledge into fresh ventures. Chief among them are the Kapita fund and the WOW Concept, a novel store model that blended physical space with digital experience. It opened briefly on Madrid’s Gran Vía and aims to fuse in-store and online interactions into a single, seamless experience. Gimeno remains convinced that physical commerce still has a vibrant future when each channel plays a defined role, a view he shared at the Opendir convention. The interview took place in Alicante.
In recent years, discussions have swirled around what some call the “retail apocalypse,” the idea that physical stores are doomed as digital channels rise. With the WOW Concept, this outlook is challenged. Why does Gimeno believe there is still life in brick-and-mortar?
We can look back through history and see a series of sharp shifts in the industry. Globalization first stretched supply chains, then digitization brought a new channel that began to cannibalize traditional stores, and social networks gave customers not just a product but a signal of values and identity. Add a pandemic that shuttered stores, and many wondered if physical retail would vanish. Yet the trend is moving toward moderation. After the worst months, shopping in person has resumed, and people are returning to physical spaces. Gimeno does not describe this as a catastrophe but as a renaissance: a recalibration where physical stores can play a decisive role if their strategy is well aligned with the digital world.
What, then, should be the role of physical stores? Will they merely be windows?
Not at all. The showroom notion is insufficient and misused by some. A true WOW Concept store treats each channel as a contributor, not a substitute. A physical space should invite purchases, with catalogues and inventory ready for on-site buying. Meanwhile, digital channels can extend the assortment and complete the customer journey instantly. Purchases can begin on a mobile device and be carried into the store for completion, leveraging impulse buying and the personal touch of a salesperson. The goal is a genuine fusion of two realms, integrated from the moment a customer steps inside. This synergy is key to building a relationship that thrives in the real world where human connection still matters most.
Will the venture involve a defined cast of roles?
Two core motivations govern buying: necessity and emotion. Digital shopping often fulfills immediate needs with speed and price. Yet many purchases are emotional, driven by the perception of something desirable. The digital space cannot fully capture the human connection that a well-trained salesperson provides. A capable salesperson, equipped with the right tools, becomes a powerful multiplier. The challenge is to recognize the complementarity of online and offline channels and to respect the preferences of different generations. Younger consumers live in a digital-native world—YouTube, Instagram, TikTok—and a physical retailer cannot afford to ignore that audience, or risk losing access to an entire generation.
One trend to watch is logistics, particularly around returns. Some chains are charging for returns, a move that signals a broader consolidation of the model. Gimeno notes that this trend will persist. The digital space grew rapidly and created a kind of virtual dressing room mindset, prompting mass returns. Episodic returns are costly, and a balanced approach favors the physical store, which can support click-and-collect and reduce friction in the process. A well-integrated physical point of sale can manage these flows more efficiently and sustain a healthier ecosystem for both channels.
Direct-to-consumer strategies are another major shift. When brands sell directly through their websites, distributors must reassess value. Gimeno argues that manufacturing brands should consider this path, as it became a necessity during the pandemic when traditional distribution slowed. Brands that embrace direct channels can maintain control over stock while distributors must adapt to a landscape where value is measured by the full customer experience, not just product shelf space. The old rule—you either sell through me or you do not—no longer holds in a market that rewards direct engagement and flexible partnerships.
How is the WOW Concept performing in its early months? Are there numbers to share?
The figures align with expectations and keep improving. The team recently revisited their online presence to refine the initial approach and accelerate progress on a two-floor concept that includes a restaurant component. There are still gaps to fill, but the overall outlook is positive. Tourism matters: more than half of customers are visitors from abroad, underscoring the international appeal of the project.
Is there a plan to roll this model out to other Spanish cities?
The team believes there is plenty to optimize locally before expanding, yet opportunities are constant. When the moment is right, expansion will follow. The model is particularly attractive in cities with a high share of shopping-focused tourism, where the WOW Concept can offer a distinctive draw for travelers and locals alike.
What did the experience at El Corte Inglés teach Gimeno?
He credits nearly two decades with shaping his professional worldview. The lessons from that period inform his current work and shape how he applies knowledge across projects. He views his time there as a foundational school that continues to influence decisions and strategies in this new venture.
Looking back, did he have regrets about that era?
Like anyone else, there were regrets. But a maxim from Steve Jobs resonates: you cannot connect the dots looking forward; you can only connect them looking backward. What happened then now makes sense in the light of what is happening now.
Did he feel the exit was unfair?
Life unfolds in its own way, and growth comes from adapting and learning. That perspective shapes how Gimeno sees every chapter as part of a broader journey.
What about the current economic climate? How might it affect retail?
The headlines paint a challenging picture with inflation, rising costs, and higher interest rates. Yet the path forward relies on resilience. Constant effort remains essential, and times of pressure often breed new entrepreneurial energy. Flexible, fast-moving leaders will navigate the tough months and, historically, emerge with stronger, more inventive organizations on the other side. The insight is clear: ingenuity and adaptability matter most when the stakes are high, and that mindset will drive continued innovation in both traditional and digital marketplaces. [Attribution: Interview excerpts]