What: El Corte Inglés is permanently closing its department store in Barcelona's iconic Portal de l'Àngel on August 31, following the sale of the building to Redevco Iberian Ventures for over EUR 200 million. The company is shifting its focus to its Plaza Cataluña location, where a renovation is planned to streamline its commercial offerings. El Corte Inglés is adapting to changing consumer trends through store closures and business diversification.

Why it is important: This closure marks a significant shift in El Corte Inglés' business strategy as it continues to divest assets to reduce liabilities and strengthen its financial position. The sale of the Portal de l'Àngel building is part of a broader trend where the company has earned EUR 660 million from asset sales over the last four years, leading to a substantial increase in recurring net profit. El Corte Inglés' strategy highlights the need for traditional retailers to adapt and diversify in a competitive market.

El Corte Inglés, a symbol of Spanish retail for over half a century, is adapting to changing consumer trends by closing several stores and diversifying its business. The company is set to close its iconic store in Barcelona's Portal de l'Àngel on August 31, a strategic move to reduce its asset portfolio and liabilities. The building, sold to Redevco Iberian Ventures, will be transformed into a mixed-use property featuring retail and office spaces. This closure is part of a broader restructuring, which includes moving sports sections to a renovated store in Plaça Catalunya. It has seen a notable improvement in its financial performance, with recurring net profit reaching its highest level since 2009.

The Barcelona closure follows other recent shutdowns, including a store in Madrid's Méndez Álvaro shopping centre and an outlet in Teruel. El Corte Inglés has also sold about 25% of its SuperCor supermarket chain to Carrefour Group, focusing on larger formats. Despite these challenges, El Corte Inglés continues to diversify its business beyond department stores, venturing into supermarkets, travel agencies, and insurance. This strategy aims to keep the company competitive in an increasingly challenging retail environment, balancing traditional brick-and-mortar operations with evolving consumer preferences and the growth of e-commerce.

El Corte Inglés exits iconic Portal de l'Àngel store as part of strategic asset divestment

What: El Corte Inglés is seeking to acquire a digital terrestrial television (DTT) license to launch its own channel for its teletienda "La Tienda en Casa".

Why it is important: This initiative reflects the growing trend of retailers exploring multi-channel approaches to engage customers and drive sales.

El Corte Inglés is pursuing a digital terrestrial television (DTT) license to launch its own channel. The primary purpose of this channel would be to broadcast its teletienda program, "La Tienda en Casa" (The Shop at Home). This move comes after previous collaborations with media companies for television presence, including a partnership with Mediaset that ended in 2012 and a temporary arrangement with Unidad Editorial to use Marca TV's license.

The company's interest in acquiring a DTT license aligns with the Spanish government's potential new concession of licenses. El Corte Inglés sees this as an opportunity to establish a more permanent and controlled television presence, which could significantly boost its teletienda sales and brand visibility.

This initiative is part of El Corte Inglés' broader strategy to diversify its revenue streams and adapt to changing consumer behaviors. The company has been actively expanding its operations, both domestically and internationally. Recent developments include opening new large-format supermarkets, expanding its e-commerce platform to countries like France, and growing its own food brands in Central America.

The pursuit of a DTT license also comes at a time when El Corte Inglés is showing strong financial performance. In the fiscal year 2023-24, the company reported its highest Recurring Net Income since 2009, with significant growth across retail, travel, and insurance sectors. The company has also been reducing its liabilities through strategic asset sales, generating 660 million euros over the past four years.

El Corte Inglés considers purchasing a DTT TV channel

What: Motier, the Moulin Family's holding company, has restructured its governance, with Philippe Houzé becoming Chairman and Nicolas Houzé appointed as Executive Chairman of the Galeries Lafayette Group.

Why it is important: This transition marks a significant generational shift in leadership within the Moulin Family, positioning the fifth generation to steer the future direction of their diverse business interests, including Galeries Lafayette, La Redoute, and their stake in Carrefour.

In a significant move reflecting a generational shift, Motier, the holding company of the Moulin Family, has restructured its governance. Madame Ginette Moulin has stepped down, with Philippe Houzé taking over as Chairman of Motier. Nicolas Houzé has been appointed as Executive Chairman of the Galeries Lafayette Group, tasked with driving the strategic vision and transformation of the group. This evolution aligns with the family's long-term plan to integrate the fifth generation into key leadership roles across their various business assets

Galeries Lafayette: Motier holding announces generational governance shift

What: Chinese luxury malls, including SKP, are deploying aggressive discount strategies like "shock therapy" vouchers to stimulate local spending and improve second-half earnings in a challenging retail environment.

Why it is important: As China's domestic luxury market faces declining sales, the innovative use of discounts and vouchers by major malls like SKP highlights the intense competition for consumer spending and the evolving strategies needed to sustain growth in a value-conscious market.

In response to slowing luxury sales, Chinese malls such as SKP are introducing substantial discounts through "shock therapy" vouchers to attract middle-class shoppers and drive transaction volumes. This tactic, which has generated significant interest and foot traffic, reflects the broader challenges in China's luxury retail sector, where malls are seeking new ways to boost sales amid economic uncertainty and shifting consumer behaviours. The strategy has led to increased competition among luxury brands and malls, with a focus on retaining customers and navigating the complexities of a value-driven market. The initiative underscores the ongoing importance of the middle class in China's luxury landscape and the need for brands to adapt to changing market dynamics.

SKP leads the charge as Chinese malls use "Shock Therapy" vouchers to boost luxury spending

What: El Palacio de Hierro is experiencing significant issues with its payment and billing system due to a server update, affecting customer transactions, credit card services, and access to account information since August 14.

Why it is important: This incident underscores the need for robust contingency plans and clear communication strategies during system outages, especially for handling sensitive financial data and maintaining customer trust.

El Palacio de Hierro has been experiencing significant issues with its payment and billing system since August 14. The problems stem from a server update that has taken longer than anticipated, affecting the functionality of the company's website and digital platforms. Customers have been unable to pay their store credit cards, access or download account statements, or generate invoices. Some users have also reported that certain payments have not been correctly reflected in their accounts.

The company has acknowledged the issue, explaining that the server update process initiated the previous week has caused operational interruptions, particularly in services related to the Palacio Card. El Palacio de Hierro has announced that it will offer accommodations to its cardholders for late payments and transactions without penalties once the platform is restored. However, no specific date for the system's return to normal operation has been provided.

This incident follows a similar situation faced by another Mexican retailer, Coppel, which reported system failures due to a cyberattack in April. Coppel's electronic operations, including card payments and purchases, were inactive for about a week, and access to the company's mobile application was suspended.

ring its recent growth and expansion. In 2023, the retailer reported an 11% increase in sales and a 41% rise in profit, with particularly strong performance in its online channel. The company has also been actively expanding its brand portfolio and enhancing its luxury offerings.

This disruption highlights the broader challenges faced by retailers in maintaining robust and secure payment systems while implementing necessary technological upgrades.

A server update impacts El Palacio de Hierro's payment and billing systems

What: Bloomingdale's flagship store in New York City is partnering with Salone del Mobile. Milano will host events, talks, and an installation celebrating Italian design and furniture.

Why it is important: This collaboration underscores Bloomingdale's commitment to elevating the in-store experience by integrating high-end international design and cultural events, positioning the retailer as a key player in the global luxury market.

Bloomingdale's has teamed up with Salone del Mobile. Milano for a special "From Italy, With Love" campaign will feature an installation and curated events from September 5 to 29 at its 59th Street flagship in New York City. The event, titled "Italian Design: From Classic to Contemporary," will showcase Made in Italy products from 23 brands, offering customers a unique cultural and shopping experience. This initiative reflects Bloomingdale's CEO Olivier Bron's strategy to enhance the store's prestige through innovative events, further aligning the brand with luxury and cultural sophistication.

Bloomingdale's brings Italian elegance to NYC with Salone del Mobile.Milano

What: Ralph Lauren strengthens its presence in Spain by opening new corners in El Corte Inglés stores and renovating existing ones.

Why it is important: These expansions highlight Ralph Lauren's commitment to the Spanish market and its strategy to grow its retail footprint in key European cities and tourist locations.

Ralph Lauren is bolstering its retail presence in Spain with new openings and renovations in El Corte Inglés stores, including a new corner at the Serrano location in Madrid. This move is part of a broader strategy to enhance the brand's visibility and accessibility in Spain's major cities and tourist hotspots. The company's ongoing commitment to the Spanish market is reflected in its recent renovations at El Corte Inglés locations in Castellana, Pozuelo, Preciados, and Bilbao. These efforts align with Ralph Lauren's global growth strategy, which saw the company close the 2024 fiscal year with a 3% revenue increase, reaching USD 6.6 billion, and a 23% rise in profits.

El Corte Inglés welcomes new Ralph Lauren openings in Spain

What: Bloomingdale's has teamed up with luxury resale platform Rebag to introduce in-store kiosks offering high-end secondhand accessories and a buyback program across several of its locations.

Why it is important: This initiative marks a significant expansion of Bloomingdale's into the growing luxury resale market, catering to increasing customer demand for curated pre-owned luxury items and enhancing the department store's omnichannel shopping experience.

Bloomingdale's is making a strategic move into the luxury resale market by partnering with Rebag, a platform known for secondhand designer accessories. This collaboration introduces around 2,500 luxury items, including handbags, jewelry, and watches from brands like Hermès, Cartier, and Rolex, to select Bloomingdale's stores and its website. The partnership includes in-store kiosks where customers can purchase these items and participate in a buyback program. This is Bloomingdale's first foray into in-store resale, building on its previous online partnership with MyGemma, and reflects the retailer's commitment to offering customers a premium, omnichannel shopping experience.

Bloomingdale's partners with Rebag for in-store luxury resale initiative

What: Magasin du Nord introduces "Small Store", a new store format, with the first location opening this autumn in SlotsArkaderne, Hillerød.

Why it is important: This concept serves as both a point of contact for e-commerce customers and an animation space that can be highly focused thanks to its small size, enhancing customer engagement and operational flexibility.

Magasin du Nord is launching a new retail format called 'Small Store' as part of its omnichannel strategy, with the inaugural location opening this autumn in SlotsArkaderne, Hillerød. This initiative, supported by over DKK 20 million in IT investments, aims to fuse Magasin's physical presence more tightly with its online platform. The concept focuses on offering a curated mix of fashion, accessories, beauty, and home products, targeting both local consumers and tourists, providing goods that are not widely available elsewhere.

Peter Fabricius, Managing Director of Magasin, emphasised that the 'Small Store' concept is designed to adapt to different local markets beyond Denmark, with additional sites already being considered. This model supports a more personalized shopping experience, integrating advanced IT solutions to enhance service offerings such as online order pickup and returns at any store.The strategy behind the 'Small Store' format is to utilize smaller, more specialized retail spaces to quickly adapt to market changes and consumer trends, potentially expanding this approach quickly based on its initial success in Hillerød.

Magasin du Nord introduces a new, smaller store format

What: El Corte Inglés partners with Akhom Consulting to enhance its luxury shopping experience for Middle Eastern travellers in Spain and Portugal.

Why it is important: The collaboration showcases innovative approaches to international retail, combining tax incentives with personalized services to attract high-value customers.

El Corte Inglés has partnered with Akhom Consulting to enhance its presence in the Middle East, particularly in GCC countries. This collaboration aims to provide an unparalleled luxury shopping experience for Middle Eastern travellers visiting Spain and Portugal.

The partnership introduces a range of exclusive services tailored for international customers. These include an Instant Tax Refund system allowing non-EU residents to save up to 15.7% on purchases with no minimum spend, and the ability to combine multiple purchases on a single tax-free form. Additionally, a 10% Reward Card enables visitors to accumulate credit for future purchases across El Corte Inglés stores in Spain and Portugal.

Further enhancing the offering is a Gold Card system, where customers choosing the El Corte Inglés Gift Card as their tax refund method receive an additional 20% of the total taxes. The stores also provide dedicated personal shoppers to assist clients in curating their shopping experience, offering personalized advice and exclusive access to the latest collections.

El Corte Inglés named Akhom Consulting's official representative in the GCC

What: SKP has opened its fourth location in Wuhan, featuring a new luxury department store and an outdoor promenade with 44 high-end brands.

Why it is important: This expansion marks a significant development in Wuhan's luxury retail landscape, introducing over 1,000 international brands and creating a unique shopping experience focusing on sustainability and immersive design.

SKP has launched its newest luxury department store in Wuhan, located in the city's Wuchang District. The store, which includes an outdoor branded promenade called K Avenue, introduces more than 1,000 international first-tier brands to the market. Designed by Sybarite, the six-story, 2.1 million-square-foot store features innovative architecture and sustainability efforts, preserving 60 percent of the existing structure. SKP Wuhan aims to redefine the shopping experience in central China, attracting approximately 100,000 visitors daily since its soft opening on July 13. The grand opening on July 26 celebrated the store reaching its daily sales target, underscoring its potential impact on the local economy and luxury retail sector.

SKP lights up Wuhan with 'Glowing Lantern' department store and branded promenade

What: Dolce & Gabbana Casa, the Italian luxury brand's home and decor line, has expanded its presence in Mexico with a new retail space at Casa Palacio in the Antara shopping centre, marking its third location.

Why it is important: This expansion underscores the growing demand for luxury home and decor products in Mexico and highlights El Palacio de Hierro's strategic role in facilitating the brand's growth. The collaboration enhances El Palacio de Hierro's prestige and reinforces its position as a key player in the high-end retail market.

Dolce & Gabbana Casa has launched its third space in Mexico at Casa Palacio in the Antara shopping centre, featuring collections like Leopardo, Carretto Siciliano, and Blu Mediterraneo. This new location follows the brand's first Latin American flagship store in Artz Pedregal, which opened in May 2023, and a second store in Guadalajara at Midtown Jalisco. The partnership with El Palacio de Hierro marks a significant step in Dolce & Gabbana Casa's expansion strategy, offering a range of luxury home items such as blankets, bathrobes, plates, cutlery, glassware, candles, and furniture.

El Palacio de Hierro boosts Dolce & Gabbana Casa's presence in Mexico

What: Boyner has launched InClub, a new influencer platform designed to enhance the content creation experience for influencers.

Why it is important: This initiative aligns with evolving shopping habits and the growing influence of personalized offers and artificial intelligence in e-commerce. It represents a strategic move to integrate influencers more deeply into Boyner's business model, creating a sustainable and engaging partnership.

Boyner has unveiled its new influencer platform, InClub, aimed at revolutionizing the content creation process for influencers. InClub allows content creators to design special collections on Boyner's website, recommend them to their followers, produce content through exclusive campaigns, and monitor their performance in real time. This platform not only enhances the collaboration between Boyner and influencers but also professionalizes influencer marketing by streamlining business processes. Boyner's innovative approach invites content producers who meet the platform's criteria to join InClub and leverage this new marketing tool to create unique shopping experiences for their followers.

Boyner InClub Press Release

What: Juvia, in collaboration with Glam-O-Meter, is showcasing a new loungewear collection at a pop-up space in Breuninger Munich.

Why it is important: This collaboration highlights the merging of luxury loungewear with fashion media influence, providing a fresh and trendy collection that appeals to modern consumers seeking stylish comfort.

Juvia has partnered with Glam-O-Meter, the fashion brand of journalist Annette Weber, to present a new loungewear collection at Breuninger in Munich. The collection features a variety of vibrant hoodies, shorts, pants, and sweaters in colors like pink, orange, ecru, yellow, light blue, white, lilac, and dark blue. The launch was celebrated with an event at Eduard's Bar, attended by notable guests including actress Uschi Glas and influencer Füsun Lindner. A highlight of the evening was a fashion talk led by Juvia founder Judith Dommermuth, Annette Weber, and moderator Jennifer Knäble. The pop-up space will be available until July 29th.

Juvia unveils Glam-O-Meter collection at Breuninger Munich

What: Fitch Ratings affirmed Grupo Palacio de Hierro's long-term national rating at 'AAA(mex)' with a Stable Outlook.

Why it is important: This affirmation highlights Grupo Palacio de Hierro's strong market position, financial flexibility, and solid brand recognition in Mexico, reflecting its resilience in a competitive environment.

Fitch Ratings has affirmed the 'AAA(mex)' rating for Grupo Palacio de Hierro (GPH), with a Stable Outlook. This decision underscores GPH's robust market position, diversified business operations, and conservative financial profile. Despite projected negative free cash flow due to significant capital expenditures from 2024 to 2026, the company's strong brand, diversified revenue streams, and low delinquency rates in its credit portfolio support its high rating. GPH's focus on enhancing its digital channels and maintaining a manageable leverage ratio further strengthens its financial stability. The company's strategic investments and solid shareholder support from Grupo Bal also contribute to its affirmed rating.

Fitch affirms Grupo Palacio de Hierro's 'AAA(mex)' ratings

What: Danish fashion brand Ganni has expanded its international presence by partnering with Mexican luxury department store chain El Palacio de Hierro.

Why it is important: This collaboration marks a significant step in Ganni's global expansion strategy, enhancing its visibility and market reach in Mexico, a key market for luxury fashion.

Ganni, the renowned Danish fashion brand known for its Scandinavian style, has officially launched in Mexico through a partnership with El Palacio de Hierro. The brand is now available in four of El Palacio de Hierro's eleven stores, with a focus on the capital city's prominent locations: Polanco, Perisur, and Santa Fe, as well as the Querétaro store. Ganni's collection can also be purchased online via the Mi Palacio app and El Palacio de Hierro's e-commerce platform. This move strengthens Ganni's presence in the Latin American market and aligns with its global expansion efforts, which include over 40 stores worldwide and e-commerce in 35 countries.

Ganni joins El Palacio de Hierro's fashion lineup

What: El Palacio de Hierro has introduced the Italian fashion brand Pucci to its product catalogue, both in physical and online stores.

Why it is important: This marks Pucci's first entry into the Latin American market, reflecting El Palacio de Hierro's strategy to expand its luxury offerings and attract a younger clientele.

El Palacio de Hierro, a luxury department store chain in Mexico, has announced the addition of the Italian brand Pucci to its portfolio as of July. Pucci's products are available both in El Palacio de Hierro's physical store located in Polanco, Mexico City, and through its online platforms, including its e-commerce site and mobile app. This move marks Pucci's first steps in the Latin American market, expanding beyond its single flagship store in Brazil. Owned by LVMH, Pucci aims to break away from traditional luxury formats and seasons, targeting a younger audience.

El Palacio de Hierro adds Italian Pucci fashion to its catalogue

What: Voralak Tulaphorn, Chief Marketing Officer of The Mall Group, has been named one of the "TOP 10 CMOs IN THAILAND 2024" by CEO Insights Asia for her vision in sustainable business development.

Why it is important: This award highlights Voralak Tulaphorn's exceptional marketing skills and her contributions to The Mall Group's success in the competitive retail market of Thailand, recognizing her ability to drive sustainable growth and innovative customer engagement strategies.

Voralak Tulaphorn, the Chief Marketing Officer of The Mall Group, has been recognized as one of the "TOP 10 CMOs IN THAILAND 2024" by CEO Insights Asia, joining distinguished marketing leaders from global brands like Electrolux, McDonald's, and PepsiCo. This accolade, now in its third year, honors marketing executives who have demonstrated exceptional skills and contributed to the dynamic growth of their organizations. Voralak's career spans various industries, including advertising, food services, real estate, and finance, before joining The Mall Group 11 years ago. Her innovative approach to marketing management, focusing on digital platforms, customer engagement, and sustainability, has significantly enhanced The Mall Group's market position. By leveraging customer data for personalized marketing campaigns and forging strategic collaborations, Voralak has expanded The Mall Group's customer base, attracted new market segments, and reinforced the company's image as a forward-thinking and socially responsible organization. Her leadership continues to drive The Mall Group's success and sustain its leadership in Thailand's retail sector.

Voralak Tulaphorn honoured as top 10 CMO in Thailand

What: Breuninger has enlisted Macquarie to explore options for its property portfolio, including property sales and sale-and-leaseback deals, to generate cash.

Why it is important: With rising interest rates impacting the real estate market, Breuninger's move to reassess its property assets could provide financial flexibility and strengthen its overall business strategy.

German department store Breuninger has engaged Macquarie to advise on its property portfolio, considering various options such as property sales and sale-and-leaseback arrangements to generate cash. This strategic move follows Breuninger's interest in acquiring the luxury department store KaDeWe, which was ultimately bought by Central Group. Breuninger operates 13 stores and 25 restaurants, generating EUR 1.4 billion in revenue in 2022. The company is also involved in property developments but has not disclosed financial details for its real estate holdings. CEO Holger Blecker emphasized that the company continually monitors all projects, especially in light of rising interest rates.

Breuninger seeks Macquarie's advice on property strategy

What: Voralak Tukaphorn, CMO at The Mall Group, reviews the recent advances made by the group in marketing and customer satisfaction.

Why it is important: Thailand is way ahead when it comes to service customisation

The Mall Group, a prominent Thai retail conglomerate, is driving a significant shift in retail through enhanced digital integration and customer-centric strategies, as shared by their Chief Marketing Officer, Voralak Tulaphorn, in an interview with Retail Asia. The company has revamped its online platforms to offer more personalised shopping experiences, with a focus on understanding individual customer preferences for faster and more tailored service.

Key innovations introduced by The Mall Group include "chat and shop" and "call to order" services, which facilitate personalized interactions and streamlined shopping processes. Tulaphorn highlighted the trend towards omni-channel shopping, noting the group's initiatives like live stream shopping events and augmented reality features that aim to create immersive, engaging consumer experiences.

Additionally, the group is navigating challenges in the e-commerce sector, such as high delivery costs, by promoting "click and collect" services that also offer upselling opportunities during store visits. Despite the labor-intensive nature of implementing AI for personalization, The Mall Group remains committed to enhancing its digital capabilities, including the future integration of more AR and VR technologies to improve in-store navigation and engagement.

Inside The Mall Group's approach to customer satisfaction

What: El Corte Inglés unveils 'New Motel' at the Mad Cool festival, featuring interactive brand experiences from Converse, Nike, L'Oréal, and Green Coast.

Why it is important: This initiative is part of El Corte Inglés' strategy to rebrand and attract Gen Z customers, aiming to transform its image and engagement with younger demographics. For more information, please check the takeaways from the IADS Operations meeting dedicated to Marketing Directors.

El Corte Inglés has set up a 'New Motel' at the Mad Cool festival from July 10-13, featuring four themed rooms sponsored by Converse, Nike, L'Oréal, and Green Coast. This initiative, aimed at attracting Gen Z, includes unique experiences such as a Converse-themed reception, a Nike pre-party space, a L'Oréal beauty room, and a Green Coast Glam Cam. Visitors can enjoy photo booths, Instax instant cameras, and various gifts from the brands. This activation is part of El Corte Inglés' broader 'New' campaign, which focuses on rebranding efforts and engaging younger audiences through modern communication strategies and events.

El Corte Inglés launches 'New Motel' experience at Mad Cool Festival

What: Turkey's Boyner Group has appointed top executives from rival retailer Beymen to lead a new luxury and contemporary fashion retail concept.

Why it is important: This strategic move signals Boyner Group's ambition to expand and enhance its position in the luxury and contemporary fashion market, leveraging the expertise of experienced industry leaders.

Boyner Group is developing a new retail concept focused on luxury and contemporary fashion, with Polat Uyal, former merchandising group president at Beymen, appointed as CEO. Uyal, along with Sebla Refig Devidas as chief merchandising officer and Demir Aslanoglu as buying and merchandising director, will spearhead the launch of this new venture. The exact name and opening date of the new store have not been finalized, but the project is progressing rapidly in terms of concept design, brand mix, and talent recruitment. Boyner Group, a prominent textile and retail company with over 250 stores, aims to leverage the extensive experience of these executives to enhance its market presence and appeal to a broader range of luxury and contemporary fashion consumers.

Boyner Group taps Beymen executives for new retail concept

What: El Corte Inglés is hosting Kurt Geiger's "Floral Couture" capsule collection in three pop-up stores in Madrid, Valencia, and Barcelona until August 25.

Why it is important: This collaboration highlights El Corte Inglés's strategy to attract premium brands and offer unique shopping experiences. The visually appealing, floral-themed installations are expected to draw significant attention, enhancing both Kurt Geiger's and El Corte Inglés's brand visibility and customer engagement.

El Corte Inglés is featuring Kurt Geiger's latest "Floral Couture" capsule collection in three temporary pop-up stores located in its Castellana (Madrid), Pintor Sorolla (Valencia), and Diagonal (Barcelona) locations. Available until August 25, the collection is presented through stunning floral installations inspired by the English countryside, created with botanical artist Tattie Isles. The range includes bags, footwear, jewelry, and unique accessories such as dog coats, picnic blankets, and teapots, all with vibrant floral prints. Kurt Geiger, founded in 1963 by the Austrian designer of the same name, is renowned for its inclusive and creative approach. The brand's Kindness Foundation, established in 2022, supports young talent in the creative industry.

El Corte Inglés hosts Kurt Geiger's "Floral Couture" collection in three new pop-up stores

What: El Corte Inglés increased its workforce by 0.3% in 2023, totaling 81,714 employees across the group.

Why it is important: This growth reflects El Corte Inglés' continued expansion and commitment to maintaining a strong and stable workforce, with a focus on permanent contracts and inclusivity.

El Corte Inglés has reported a workforce increase of 0.3% in 2023, bringing its total number of employees to 81,714. The average number of full-time employees reached 73,279, excluding the insurance group staff. The majority of its workforce (97.3%) holds permanent contracts. The company emphasized its commitment to society by employing 1,649 workers with disabilities. The workforce distribution includes professionals, base staff, managers, technicians, and coordinators, with a notable increase in base staff due to new hires. The company completed a process of incentivized redundancies for staff over 59 years old, with EUR 21 million pending payment out of an initial provision of EUR 30 million. El Corte Inglés operates numerous department stores, supermarkets, outlets, and travel agency branches across Spain and Portugal, and its fashion chain Sfera expanded internationally with 166 own stores and 287 franchises.

El Corte Inglés workforce grows by 0.3% in 2023, reaching nearly 82,000 employees