Store No 8 has announced it acquired Spatialand, “which will create the foundation of Store No 8’s third portfolio company.” 

According to the release, the new venture will operate “in stealth” with Kim and Jeremy at the helm as co-founders. The team will develop and explore new products and uses of VR through immersive retail environments that can be incorporated by all facets of Walmart, online and offline.

“’VR’ is an industry buzzword right now. And the majority of the technology that has been created in this space has been focused on the development of hardware and content for spaces such as gaming and entertainment, ignoring the range of possibilities available in retail. At our core, we are merchandisers and storytellers which drives us to believe that virtual reality has the potential to reinvent the consumer experience—with an experience we call contextual commerce,” the announcement explained, adding: “Last year, our team set out to explore the transformational effects of virtual reality in commerce, and we uncovered an underlying ecosystem of companies and technologies that when applied to retail, created a game-changing customer journey. This realization led our entrance into the space, which culminated at our VR gala, Innov8, where alongside Kim Cooper and her brilliant team at Spatialand and our consultant, Jeremy Welt, we created a proof of concept VR experience for how we envision millions may shop in the future.” 

The team will continue the work from summer at Innov8. This experience transported users to a campsite in Yosemite National Park, where outdoor products such as tents were available to utilize in the same way as when camping, entering the space and judging its size and ease of set-up to ensure it is the best product for the customer’s needs. 

It concluded: “Together, we will continue to evolve this technology and develop new product exploration through immersive retail environments. I can’t imagine having better partners than Kim and Jeremy on board to lead us on this journey.” 

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