Heritage Meets Innovation at Telefónica Flagship Store in Madrid


Celebrating a century in business, telecommunications company Telefónica has reopened a flagship in Madrid, Spain. Espacio Movistar is housed in a skyscraper completed in 1929 – the city’s first. The retail store not only showcases the brand’s products, it also offers an interactive experience to customers.

Studio Banana reimagined the outlet in collaboration with Design Bridge and Partners. The architects followed a strict renovation process to highlight the heritage building while creating a modern setting which reflects Telefónica’s evolution. “We wanted to recapture the essence of the original space, but also bring in the future,” says Matías Rodríguez, managing director at Studio Banana.

People walking on a busy city street past a large building with glass windows. A metro entrance with a blue "M" sign is visible on the right.

Modern interior with a large geometric metallic installation and a wide window showing a busy street outside.

Located on the Gran Vía, a major commercial street, this venue fosters connectivity between Madrid itself and the community, beginning at the ground level with the restoration of the facade. A stainless steel cube sits near the entrance for visitors to enter and view futuristic projections on a high-resolution LED screen.

Modern retail store interior with illuminated displays, large digital screens, a wooden showcase on the left, and a high ceiling with ornate details.

Grand, ornate building interior with high ceilings and large, cylindrical chandeliers. The space includes modern displays, a marble floor, and an intricate architectural design.

A modern electronics store interior with various smartphones and tablets displayed on wooden tables, digital screens on the walls, and a spiral staircase in the background.

Modern showroom interior with large digital screens, interactive displays, and seating areas. The space has a tech-focused design with bright lighting and various tech-related visuals.

The double-height atrium serves as the heart of this level, used for events and live broadcasts. Visible from the exterior, this vast area invites visitors to explore an array of digital content curated specifically for Espacio Movistar. In the retail zone here, shoppers can compare and purchase the latest devices, from mobile phones to tablets.

Spiral staircase in a modern building lobby with marble floors, high ceilings, and large windows displaying street views outside.

Lustrous marble, previously covered, is now revitalized and polished. Terrazzo forms curved steps and surrounds the base of each column, cleverly hiding wires and electrical components. Small fragments of similar stone in the new flooring match the palette of the original, a mix of cream, emerald, and rust shades. A steel helix staircase, clad in ribbed walnut, leads to the upper level.

Interior of a grand hall with ornate columns, decorative ceiling, and a central chandelier. Marble floor features a geometric pattern. Dual staircases lead to an upper level with railing.

A hallway with cushioned seating, side tables, and an ornate ceiling. Large windows on the left and a glass-walled area ahead.

On this floor, there’s an emphasis on entertainment for a younger audience, featuring a range of sections for activity. Today’s influencers, whether famous or fledgling, can book one of two clear bubble pods to record or take selfies. The gaming area allows enthusiasts of all ages to play on video consoles or try on virtual goggles. Lighting reminiscent of Tic-Tac-Toe, in bold X and O shapes, adds a playful touch to the ceiling.

A modern office with glass walls, featuring people working at desks and one person standing by the window, set against an ornate ceiling.

Branded apparel and gear is displayed gallery style, a micro shop-in-shop that catches consumers’ eyes as they pass by. There is even a theater for special screenings of the Movistar division’s streaming television shows and movies.

Person sitting in a soundproof room wearing headphones, using a computer with multiple screens and a microphone.

Modern tech store interior with digital displays, VR equipment, and sleek lighting.

A balcony display in a store features sports jerseys, a bike, and a sign reading "Fan Shop," with decorative railings and ornate ceiling details.

The design of the flagship highlights the vital role the corporation plays in that continuing story. “Telefónica’s legacy is unique, and they are still pioneering,” notes Rodríguez. “The renewal of the building and this store is a statement, a hint of what’s to come.”

Modern cafe with people sitting at tables and a counter, featuring contemporary design elements like curved lighting, indoor planters, and a barista behind the counter.

Framed by an organic wooden pergola, the café doubles as a comfortable co-working space. People can enjoy food and beverages before heading to the Telefónica Foundation Museum. With both permanent and rotating exhibits, visitors can learn about how communication and its changing technology has shaped Spain’s culture and economy.

A modern cinema entrance with curved wall displays and ceiling lights, leading to a dimly lit theater room.

A modern home theater with black recliner seats, a large screen displaying a coastal scene, and a skylight ceiling.

To learn more about the collaborators behind the project visit studiobanana.com and designbridge.com.

Photography by Juan Baraja.



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