El Corte Inglés

The Spanish department store group was founded as a tailor shop in the street Preciados in the Spanish capital. Ramón Areces Rodríguez buys the shop and transformed it into a retail empire. Isidoro Álvarez was the president of the company that relieved the initial owner and with him the group expanded in its local territory and expanded also internationally, starting with Portugal.

The Spanish department store group chaired by Marta Álvarez closes its first fiscal year under the management of new CEO Gastón Bottazzini with a net income of €512 million ($588.6 million) and reducing its indebtedness by €263 million ($302 million).

Sustainability to the P&L: eco in fashion

Although done at a slow pace, the Spanish fashion business incorporates methods to connect sustainability with its performance.

Panameninan group Félix Maduro takes Sfera to the country

Sfera, the fashion chain of the department store giant El Corte Inglés, will open four stores next November. For next year, the goal of the group is also to take its children’s chain to the country.

El Corte Inglés: Fitch increases its rating to BB+ because of its business strategy

The qualification agency gave a good valuation to the business strategy of the Spanish department stores giant, the reduction of its debt, the financial flexibility and the operational of real states business.

El Corte Inglés rearranges its helm: former John Lewis exits the Spanish group

The previous president of the group, Dimas Gimeno, was the one that signed the executive as consultant for this division. Now, Alejandro Salazar-Simpson and María Díaz-Rato will be on the head, next to Marta Álvarez.

El Corte Inglés overcomes with Marta Álvarez shake up

The group presents a strategic plan to recover the time loss after putting an end to an internal fight and controlling its debts.

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What is at stake for fashion business with El Corte Inglés internal crisis?

Spanish fashion brands coincide in pointing out that the shareholder crisis that the department store chain is going through doen’t have a direct impact on commercial negotiations. However, they admit that pressure on profit margins has increased in recent months.

How many El Corte Inglés’ department stores fit in the Spanish market?

Tsutomu Okuda, chairman and CEO of Japanese group J. Front Retailing, owner of department store chains Daimaru and Parco, assures that there is only room for one store for every million consumers.

In the midst of an internal war between shareholders, the Spanish group is now considering a move that would subject it to the short-term demands of investors while it faces a major long-term strategic transformation.

The new president of the Spanish department stores giant, Marta Álvarez, presented the roadmap that defines the new strategic politics of the company to boost its growth.

The Spanish giant of department stores sealed an alliance with the Chinese marketplace to distribute Tizas, Brotes and Cotton Juice.

The Spanish department store giant has as a goal to potentiate sustainability for 2023, so 50% of the cotton used by the group belongs to the BCI program.

International sales of the Spanish giant grew 6.7% in 2018. Foreign sales are already 5.4% of the group’s total revenue.

Marta Álvarez, daughter of late president Isidoro Álvarez, has taken the helm at the Spanish giant. Together with her sister, Cristina, she’s also the main shareholder of the group.

The German footwear company reinforces its presence in Spain with the upcoming opening of a temporary point of sale in El Corte Inglés in Las Palmas de Gran Canaria.

Mercedes Gorriti, who took over the manager position in womenswear in 2015, was part of Spanish childrenswear brand Gocco’s founder team and was assistant manager in the retail section in Continente before signing up with the department store’s group.

El Corte Inglés shelves one of the most challenging years of its history. Caught in the middle of an internal battle, the group has refinanced a debt of 3.65 billion, has carried out its first issuance of bonds and has let foreign investors take a stake in the company.

The Spanish group of department stores and the Chinese e-commerce giant Alibaba have signed a partnership that addresses from trade agreements to technologic ones in order to speed up digitalisation.

The Spanish group of department stores will create a purchasing central that will be in charge of managing the hiring of telephonic services, electricity, gas, transport, security, cleaning services or maintenance.

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