This cross-departmental initiative bridges Business and IT to establish a nexus for technological innovation, academic research, and tangible retail application, particularly in the realms of Robotics, Sensor Technology, Service Technology, Data Science driven by Artificial Intelligence within a retail setting. Conceived as both a living lab and an innovation hub, this project embodies a fully-operational retail store of the future, furnished with cutting-edge technologies and resourced by experts across varied disciplines and research domains. The overarching objective centers on facilitating knowledge generation and transfer among students, faculty, retailers, and technology companies. By doing so, the lab endeavors to foster collaborative solutions to aptly address the pressing challenges currently being faced by the retail industry, paving the way for sustainable, innovative developments for the future.