In the fall of 2015, Primark opened their flagship store in Madrid. The Irish retailer has five floors – almost 40,000 feet – of floor space offering low-cost men’s and women’s apparel. At the building’s summit is a statue of Phoenix, the mythical bird who rose from the ashes. The property was constructed in 1924 for the Madrid-Paris Society, Madrid’s first department store. 32 Gran Vía was purchased in 2015 by Ponte Gaedea, a holding company owned by Amancio Ortega, Europe’s wealthiest man.