El Corte Inglés
Encyclopedia
El Corte Inglés S.A. headquartered in Madrid
, is the biggest department store group in Europe and ranks fourth worldwide. El Corte Inglés is Spain's only remaining department store
chain, as well as owner of several associated businesses, such as:
bought a tailor shop (which had opened in 1890) located on one of Madrid
's most central streets, calle Preciados, and made it into a limited company
. In 1940 he turned the shop into the current corporation El Corte Inglés, S.A.
On the death of Areces in 1989, his nephew Isidoro Álvarez was named his successor and quickly became one of the most powerful men in Spain. In 1995 El Corte Inglés bought out its only serious competitor, Galerías Preciados, which had entered bankruptcy.
Stores tend to be very large in size and offer a wide range of products: stores may sell music, movies, portable & household electronics, furniture, hardware, books, clothes, groceries, gourmet food, cars and even real estate.
International expansion began in 2001 in Portugal, with a store in Lisbon
, followed in 2006 with a store in Vila Nova de Gaia
, opposite the city of Porto
, and a third store is planned. In the same year the company announced expansion outside the Iberian Peninsula: Italy was to be the first country to host a store but, owing to the crisis, the plan was suspended.
, Louis Vuitton
, Cartier
, Armani, Gucci
, Loewe
, Bulgari
, Dior
, Dior Homme
, Georges Rech, Hugo Boss
, Boss Woman, Ermenegildo Zegna
, Burberry (men/women)
, Façonnable
, Pal Zileri
, Paul & Shark, Lacoste, Pavillon Christofle, CH by Carolina Herrera
, Escada Sport
, James Purdey and Sons
, Lloyd's, Purificación Garcia, Caroll Paris, Amitie, Episode, store brands (Emidio Tucci, Dustin) and many others. Also included is a branch of the Madrid
based Aldeo jewelers, carrying such jewellery designers as Boucheron
, Blancpain
, and Hamilton
.
17.8 billion. Net profit was up 5.1%, to €747.6 million.
Madrid
Madrid is the capital and largest city of Spain. The population of the city is roughly 3.3 million and the entire population of the Madrid metropolitan area is calculated to be 6.271 million. It is the third largest city in the European Union, after London and Berlin, and its metropolitan...
, is the biggest department store group in Europe and ranks fourth worldwide. El Corte Inglés is Spain's only remaining department store
Department store
A department store is a retail establishment which satisfies a wide range of the consumer's personal and residential durable goods product needs; and at the same time offering the consumer a choice of multiple merchandise lines, at variable price points, in all product categories...
chain, as well as owner of several associated businesses, such as:
- HipercorHipercorHipercor S.A. is an up-scale chain of hypermarkets in Spain, belonging to the same group as El Corte Inglés. It has its head office in the El Corte Inglés head office building in Madrid....
- hypermarkets - Supercor and OpenCor - supermarkets
- Bricor - Home and DIY chain
- SferaSFeraSFera is a science fiction society from Zagreb, Croatia. It was founded in 1976, thus marking the beginnings of organised science fiction fandom in the region....
- Fashion chain - Viajes El Corte InglesViajes El Corte Inglés- History : as it says in his Web ) constituted itself in Madrid the 3 of November 1969, obtaining the mandatory ministerial authorization with date 22 of December of that same year, initiating their commercial management the 16 of January 1970...
- Travel agency - Telecor - Telecommunications
- Informatica El Corte Ingles - Business IT services
- Centro de Seguros, Correduría de Seguros and Grupo de Seguros El Corte Ingles - Insurance and financial services
- Editorial Centro de Estudios Ramón Areces - Educational publishing
History
In 1934, founder Ramón ArecesRamón Areces
Ramón Areces Rodríguez. Born in La Mata, Asturias , in 1904. Died in Madrid , in 1989.At fifteen, Areces emigrated to Havana, Cuba. There he learned the basics of the business working at EL ENCANTO Department Store. He later traveled through the United States and Canada, before returning to Spain...
bought a tailor shop (which had opened in 1890) located on one of Madrid
Madrid
Madrid is the capital and largest city of Spain. The population of the city is roughly 3.3 million and the entire population of the Madrid metropolitan area is calculated to be 6.271 million. It is the third largest city in the European Union, after London and Berlin, and its metropolitan...
's most central streets, calle Preciados, and made it into a limited company
Limited company
A limited company is a company in which the liability of the members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by shares or by guarantee. And the former of these, a limited company limited by shares, may be...
. In 1940 he turned the shop into the current corporation El Corte Inglés, S.A.
S.A. (corporation)
S.A. designates a particular type of corporation in various countries, mostly those employing the civil law. It originated in Spain during the 16th century. Depending on language, the abbreviation stands for various phrases meaning anonymous society, anonymous company, anonymous partnership, or...
On the death of Areces in 1989, his nephew Isidoro Álvarez was named his successor and quickly became one of the most powerful men in Spain. In 1995 El Corte Inglés bought out its only serious competitor, Galerías Preciados, which had entered bankruptcy.
Stores tend to be very large in size and offer a wide range of products: stores may sell music, movies, portable & household electronics, furniture, hardware, books, clothes, groceries, gourmet food, cars and even real estate.
International expansion began in 2001 in Portugal, with a store in Lisbon
Lisbon
Lisbon is the capital city and largest city of Portugal with a population of 545,245 within its administrative limits on a land area of . The urban area of Lisbon extends beyond the administrative city limits with a population of 3 million on an area of , making it the 9th most populous urban...
, followed in 2006 with a store in Vila Nova de Gaia
Vila Nova de Gaia
Vila Nova de Gaia, or simply Gaia is a city in Vila Nova de Gaia Municipality, Portugal. It is located in the Porto District, south of the city of Porto on the other side of the Douro River. The city proper has a population of 178,255 and the municipality contains 24 parishes with a total...
, opposite the city of Porto
Porto
Porto , also known as Oporto in English, is the second largest city in Portugal and one of the major urban areas in the Iberian Peninsula. Its administrative limits include a population of 237,559 inhabitants distributed within 15 civil parishes...
, and a third store is planned. In the same year the company announced expansion outside the Iberian Peninsula: Italy was to be the first country to host a store but, owing to the crisis, the plan was suspended.
Madrid flagship store
The primary flagship store for the chain is located in Madrid at 79, Raimundo Fernández Villaverde Street. It encompasses several buildings and carries the most comprehensive collection of designers of any large store in Spain. Designer boutiques in this store include: HermèsHermès
Hermès International S.A., or simply Hermès is a French high fashion house established in 1837, today specializing in leather, lifestyle accessories, perfumery, luxury goods, and ready-to-wear...
, Louis Vuitton
Louis Vuitton
Louis Vuitton Malletier – commonly referred to as Louis Vuitton , or shortened to LV – is a French fashion house founded in 1854 by Louis Vuitton. The label is well known for its LV monogram, which is featured on most products, ranging from luxury trunks and leather goods to ready-to-wear, shoes,...
, Cartier
Cartier SA
Cartier S.A., commonly known as Cartier , is a French luxury jeweler and watch manufacturer. The corporation carries the name of the Cartier family of jewellers whose control ended in 1964 and who were known for numerous pieces including the "Bestiary" , the diamond necklace created for Bhupinder...
, Armani, Gucci
Gucci
The House of Gucci, better known simply as Gucci , is an Italian fashion and leather goods label, part of the Gucci Group, which is owned by French company PPR...
, Loewe
Loewe (brand)
Loewe is a Spanish luxury clothing and accessories brand based in Madrid and is owned by the LVMH Group. Loewe is known around the world as being one of the very best when it comes to luxury leather goods.- History :...
, Bulgari
Bulgari
Bulgari is an Italian jeweler and luxury goods retailer which has been owned by the French firm LVMH since October 2011. The trademark is usually written "BVLGARI" in the classical Latin alphabet , and is derived from the surname of the company's Greek founder, Sotirio Voulgaris...
, Dior
Dior
Dior can mean:* Christian Dior SA, a French clothing retailer* In J. R. R. Tolkien's fictional Middle-earth legendarium:**Dior Eluchíl, a Half-elven of the First Age**Dior , a Steward of GondorDior is a surname, and may refer to:...
, Dior Homme
Dior Homme
Dior Homme is the menswear division of Christian Dior SA, the French clothing retailer. Dior Homme is currently under the creative direction of Kris Van Assche since spring/summer 2008...
, Georges Rech, Hugo Boss
Hugo Boss
Hugo Ferdinand Boss was the founder of clothing company Hugo Boss.-Early life:Boss was born in Metzingen, Germany. After completing his apprenticeship and one year of employment, he founded his own company in Metzingen in 1923.-Support of Nazism:Boss joined the Nazi Party in 1931, two years before...
, Boss Woman, Ermenegildo Zegna
Ermenegildo Zegna
Ermenegildo Zegna is a leading Italian fashion house, specialing in men's clothing. Founded in 1910, it is now managed by the fourth generation of the Zegna family and remains in family ownership. As well as producing suits for its own labels, it manufactures suits for labels such as Gucci, Yves...
, Burberry (men/women)
Burberry
Burberry Group plc is a British luxury fashion house, manufacturing clothing, fragrance, and fashion accessories. Its distinctive tartan pattern has become one of its most widely copied trademarks. Burberry is most famous for its iconic trench coat, which was invented by founder Thomas Burberry...
, Façonnable
Façonnable
Façonnable is an international high-end men's and women's tailor founded in Nice, France, by Jean Goldberg in 1950.-Background:The first shop, situated in rue Paradis in Nice, was frequented by film stars in need of bespoke tuxedos and gowns for events such as the annual Cannes Film Festival. In...
, Pal Zileri
Pal Zileri
Pal Zileri is a fashion house based in Vicenza, Italy specialising in clothing for men.Pal Zileri clothing can be bought in many clothing stores around the world. Their clothing lines include Pal Zileri Lab and Pal Zileri Sport....
, Paul & Shark, Lacoste, Pavillon Christofle, CH by Carolina Herrera
Carolina Herrera (fashion designer)
Carolina Herrera Carolina Herrera Carolina Herrera (born María Carolina Josefina Pacanins y Niño (born January 8, 1939) is a Venezuelan and naturalized American fashion designer and entrepreneur who founded her eponymous company in 1980.-Early life:...
, Escada Sport
Escada
Escada is an international luxury fashion group in women's designer clothing. The company has a presence in about 60 different countries. Its main sales markets are North America, western and eastern Europe and Asia. It filed bankruptcy in August 2009, and was acquired by Megha Mittal, in November...
, James Purdey and Sons
James Purdey and Sons
James Purdey & Sons - or simply "Purdey" - is a famous British gunmaker of London, and the name is synonymous with the very finest sporting shotguns and rifles. Purdeys hold or have held numerous warrants of appointment as gun and rifle makers to the British and other European royal...
, Lloyd's, Purificación Garcia, Caroll Paris, Amitie, Episode, store brands (Emidio Tucci, Dustin) and many others. Also included is a branch of the Madrid
Madrid
Madrid is the capital and largest city of Spain. The population of the city is roughly 3.3 million and the entire population of the Madrid metropolitan area is calculated to be 6.271 million. It is the third largest city in the European Union, after London and Berlin, and its metropolitan...
based Aldeo jewelers, carrying such jewellery designers as Boucheron
Boucheron
Boucheron is a French jewellery house.-History:The House of Boucheron is a French family dynasty founded by Frederic Boucheron in 1858....
, Blancpain
Blancpain
Blancpain is a luxury Swiss watch manufacturer, founded in 1735 by Jehan-Jaques Blancpain. Blancpain went into bankruptcy and stopped production for a long period but was saved by Jean-Claude Biver, an executive with Omega. Blancpain is owned by the Swatch Group. Since 2002, Marc Hayek, the...
, and Hamilton
Hamilton Watch Company
The Hamilton Watch Company was originally formed to produce high quality pocket watches and wristwatches mid-range and luxury. Hamilton would become a corporate conglomerate diversified in other operations...
.
2007 Results
For the fiscal year ending February 28, 2008, group revenue grew 5.1% to €Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
17.8 billion. Net profit was up 5.1%, to €747.6 million.