For decades, it was a gateway to the “Zara universe” in the heart of Madrid and a symbol of Inditex’s expansion outside Galicia. Today, that first Zara store that opened in the capital, at number 6 Calle Carretas, opposite Puerta del Sol, is now just a closed shop, with no signs or mannequins, in search of a new destination. The store closed permanently in April 2021 as part of the company’s global plan to close medium-sized and older stores and focus on larger, more technologically advanced and better-located flagship stores (Gran Vía, Plaza de España, Serrano), but its departure has taken on a definitive tone in recent months: the ground floor, owned by the Mutualidad de la Abogacía, has been formally put up for sale, closing the door on a hypothetical return of Zara to this historic space.
The building has more than 2,600 square meters spread over seven floors and a long commercial history behind it: before Amancio Ortega set up his first Madrid store there in the 1980s, it was the headquarters of Sederías Carretas, one of the predecessors of Galerías Preciados. Later converted into the first Zara in Madrid and the group’s first store outside A Coruña, the premises accompanied the growth of the textile giant for almost four decades, until the optimization strategy led to the closure of even the first Zara store in history.
Farewell to Zara’s medium-sized stores
Zacaffè | Image courtesy of: Zara
The closure, at the time, was almost surgical, with no big announcements or farewell posters. The shutters came down as part of a broader movement as the brand reinforced its new commercial cathedrals in other areas of the city center. What is changing today is the nature of that void. As it comes onto the market, the former Zara on Carretas is establishing itself as one of the area’s prime real estate opportunities, an iconic location in what was once the “retail mecca” of traditional Madrid. For experts, its future will also mark the type of commerce to come: will the street continue to focus on fashion and fast retail, or will it give way to other more experiential uses, such as restaurants or even tourist entertainment?
Meanwhile, the pulse of Gran Vía and the new commercial hubs confirms that the departure of Madrid’s first Zara is not a sign of retreat, but rather a change of skin. The brand has been closing small and medium-sized stores in historic streets to concentrate its offering in macro-spaces where it can integrate smart fitting rooms, omnichannel logistics, and complete collections, as demonstrated by the reopening of its flagship store on Serrano and other recent projects.