(Note: do not get confused, multi-space is not multi-brand)
We are all familiar with the concept ‘multi-space’ for offices or food, but it is hard to find a good definition or execution in retail. In the food industry there are many ‘food halls’ at different levels, all of them having in common:
Targeting a specific consumer: i.e: Gotham Market restaurants offer different types of food, but targeting the same customer profile.
The restaurant brand integrity is fully represented: A Burger King in a food court may be smaller than a freestanding, but it looks the same.
Each restaurant is able to attract more clients because all together are offering more choices to customers.
It makes sense financially: There are many costs shared.
HiO is by definition a multi-space:
Targeting a single consumer: brand selection is carefully curated.
Brand integrity is totally respected: brand related elements are the responsibility of the brand.
Each brand benefits of the traffic generated by HiO.
Brands and HiO share costs and revenue, both are driven by sales. Just to be clear, HiO business model is not based either on fees or renting a space.