El Corte Ingles (Spain)


El Corte Ingles is one of Spain's largest private companies, but was finally unseated as the country's top retailer in 2012 by Zara parent Inditex. It is principally a department store operator, selling a wide range of fashion, soft furnishings, household goods and appliances. However, the group has extended its footprint into numerous other sectors ranging from supermarkets (Hipercor and Supercor) and travel agencies to computer manufacturing. It has been described as probably the single greatest influence on Spanish culture after Real Madrid football club. Yet despite its substantial operations in its domestic market, the group has only a minimal presence beyond the Iberian peninsula. As a result, financial performance has dipped significantly since the late 2000s as a result of Spain's economic problems, with revenues slipping steadily since to 2007 to E14.55bn in 2012. Isidoro Alvarez is chairman and controlling shareholder of El Corte Ingles, and the architect of its huge success since 1990. Most of the remaining shares are held by other descendants of his late uncle Ramon Areces, who acquired a small Madrid tailoring business owned by his uncle (El Corte Ingles translates as "The English Cut") and built it into Spain's biggest retailer. Adbrands no longer offers a business profile for this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.

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Who are the competitors of El Corte Ingles? See also Clothing Sector and Retailing Sector index

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