What: El Corte Inglés is celebrating the Chinese New Year of the Dragon with a unique artistic collaboration. The company has commissioned Spanish artist Okuda San Miguel to create a series of artworks, including a spectacular dragon sculpture, to mark the occasion.

Why it is important: The celebration highlights the cultural connection between Spain and China, showcasing the fusion of traditional symbolism with contemporary art. Okuda San Miguel's reinterpretation of the Chinese Dragon, a symbol of power, nobility, and good fortune, reflects modernity, innovation, and cultural splendor. This initiative not only celebrates the Chinese New Year but also promotes cross-cultural appreciation and understanding.

El Corte Inglés Castellana in Madrid is celebrating the Chinese New Year of the Dragon with a special art installation by renowned Spanish artist Okuda San Miguel. The highlight of the celebration is a futuristic dragon sculpture, symbolizing strength, health, harmony, and good luck, displayed at the store's atrium. Okuda's work, known for its vibrant colors and geometric patterns, aims to bridge cultural gaps between Spain and China, showcasing a blend of traditional and contemporary elements. Other pieces by the artist, including a Soulkeeper statue and limited series artworks, will also be featured. This collaboration underscores El Corte Inglés's commitment to cultural diversity and innovation, while honoring the deep-rooted traditions of the Chinese New Year.

Add icon Add cover El Corte Inglés celebrates Chinese New Year with Okuda San Miguel's majestic dragon art installation

What: El Corte Inglés, a leading department store group, has appointed Gastón Bottazzini as advisor to the presidency and the delegated commission, aiming to drive the company's transformation.

Why it is important: This strategic move signifies El Corte Inglés's commitment to adapting to the evolving retail landscape, particularly in e-commerce and management efficiency. Bottazzini's extensive experience in retail and his successful tenure at Falabella highlight the company's focus on leveraging expertise to navigate the challenges of digital transformation and market competition.

Marta Álvarez Guil, the executive leader of El Corte Inglés, has appointed Gastón Bottazzini, former CEO of Falabella, as a key advisor. Bottazzini's role will focus on aiding the transformation of El Corte Inglés alongside general directors José María Folache and Santiago Bau. His experience in leading Falabella through significant e-commerce growth positions him as a valuable asset in El Corte Inglés's ongoing efforts to enhance its digital and operational strategies.

Bottazzini, with a rich background in retail management and consulting, including a significant stint at McKinsey, brings a wealth of knowledge to El Corte Inglés. His appointment comes at a time when the company is navigating a complex retail environment, marked by shifting consumer behaviours and the need for digital innovation.

El Corte Inglés anticipates a sales improvement of over 4% for the 2023-2024 financial year, indicating a positive trajectory despite broader economic uncertainties. The company's performance, particularly in retail sectors like food and fashion, underscores its resilience and the potential impact of strategic leadership additions like Bottazzini.

As El Corte Inglés prepares for future challenges, Bottazzini's advisory role will be crucial in steering the company towards sustained growth and innovation. His expertise in finance, retail, and digital transformation aligns with El Corte Inglés's objectives, marking a significant step in the company's ongoing evolution.

El Corte Inglés welcomes Gastón Bottazzini to spearhead transformation

What: El Palacio de Hierro has introduced three new high-profile international fashion and design brands to its offerings.

Why it is important: This recent move solidifies El Palacio de Hierro's stronghold in the luxury retail market, showcasing its commitment to offering exclusive and high-quality fashion and design to its discerning clientele.

The newly added brands include the iconic Alaïa, American streetwear brand Market, and Italian jewellery brand Pasquale Bruni. These brands are exclusively available at selected physical locations and channels of El Palacio de Hierro, emphasizing the chain's commitment to luxury. Alaïa's exclusive pieces, now under the creative direction of Pieter Mulier, can be found at El Palacio de Hierro Polanco, while Market's offerings, founded by Mike Cherman, are also available at specific locations. Pasquale Bruni's presence is centered in the recently renovated Satélite store of the chain.

El Palacio de Hierro expands its fashion offer

What: The Commercial Court of Bordeaux is set to review the continuity plan proposed by businessman Michel Ohayon for about 20 Galeries Lafayette stores he owns in French provinces.

Why it is important: This hearing is crucial for the future of these Galeries Lafayette stores and their employees. The decision will impact the viability of the stores, the livelihood of the staff, and the financial stability of Ohayon's business ventures. It also reflects broader challenges in the retail sector, particularly for traditional department stores adapting to changing market conditions.

The plan, submitted by Hermione Retail, aims to address the challenges faced by these stores, which have been under safeguard proceedings since last February, employing around 1000 staff. The Galeries Lafayette group, as the main creditor and supplier, plays a crucial role in the decision-making process. The continuity plan includes selling the Pau store and forgiving 70% of the debts, but employees and a judicial administrator have expressed skepticism about its feasibility. Additionally, the court will review the situation of Financière immobilière bordelaise (FIB), Ohayon's main holding company, which has faced financial difficulties.

Galeries Lafayette: Future of Michel Ohayon's stores to be reviewed on February 14

What: The Chalhoub Group launches "The Visitor," a new travel retail concept at King Abdulaziz International Airport in Jeddah, Saudi Arabia.

Why is it important: "The Visitor" offers an innovative retail space that combines luxury and travel, aiming to enhance the shopping experience for the millions of passengers passing through the airport annually. The concept is designed to cater to the expectations of the younger generation of travellers by amplifying the travel experience and offering a curated selection of over 200 luxury brands, including fashion, beauty, fragrances, jewelry, eyewear, and electronics.

The launch aligns with the significant growth projections of the global travel retail market, indicating the potential for "The Visitor" to contribute to the expanding market in the Kingdom and beyond. The statements from Chalhoub Group's KSA Managing Director and the Vice President of Commercial at Jeddah Airport Company emphasize the commitment to excellence, dedication to customer needs, and the creation of an unmatched shopping experience for travellers.

Chalhoub Group's commitment to retail excellence and its mission to redefine the travel retail landscape in Saudi Arabia and beyond indicates the strategic importance of "The Visitor" as a flagship store.

Chalhoub Group opens new travel retail concept at King Abdulazis International Airport, Saudi Arabia

What: El Palacio de Hierro has secured the title of "Best Place to Work for LGBTQ+ 2024" in the fashion sector.

Why it is important: El Palacio de Hierro expressed pride in this recognition and emphasized its commitment to furthering an inclusive and diverse work environment for all employees, spurred on by this distinction in the HRC EquidadMX 2024 index. These developments signify a positive trend in promoting LGBTQ+ inclusion within corporate settings and underscore the company's dedication to diversity and inclusion.

The title was announced in December when it received the HRC Equidad MX certificate from the Human Rights Campaign Foundation. Additionally, it emerged as the top-ranking company in the category of "clothing, fashion, textiles, and department stores" within the HRC Equidad MX 2024 index, surpassing well-known industry players such as Grupo Axo, Nike de México, Under Armor México, C&A México, and Pirma.

El Palacio de Hierro is the "Best Place to Work for LGBTQ+ 2024" in the fashion sector

What: El Corte Inglés Joins Spain's First Textile Recycling Association to Propel Sustainability Efforts.

Why is it important: The Association for the Management of Textile Waste, Spain's first collective entity dedicated to textile recycling, has recently included El Corte Inglés, a European leader in department stores. This addition strengthens the association's capacity to tackle challenges and innovate in textile recycling. The collaboration aims to develop an efficient recycling system, contributing to the circular economy and sustainability within the Spanish textile industry. This union is part of Spain's response to the Extended Producer Responsibility, in line with the new Law 7/2022 for a circular economy, effective from 2025. The association's proactive approach aligns with the European directive and positions it as one of the largest inter-business alliances in Europe for textile waste management.

This collaboration is crucial as it represents a unified effort by major Spanish retail companies in fashion and related sectors to address environmental challenges and adhere to upcoming legal requirements for a circular economy.

El Corte Inglés joins the Association for the Management of Textile and Footwear Waste

What: French department store chain Galeries Lafayette is set to open a new luxury department store in Macau, marking its latest expansion in China.

Why it is important:  Operated by Forward Fashion Holdings, the 35,000 sqft store will open on January 26 at the Yoho Treasure Island Resorts World Shopping Centre. The store will feature over 100 international and designer brands, including more than 10 brands debuting in the territory. It will also house a seven-meter-tall indoor replica of the Eiffel Tower and host a joint drone show with Charlotte Tilbury to celebrate the launch.

This opening is a significant step in Galeries Lafayette's ambitious expansion plan in China, aiming to establish 10 department stores by 2025. The Macau store's launch not only strengthens the brand's presence in the Asian market but also showcases its commitment to bringing luxury retail experiences to diverse regions. This strategic move highlights the growing importance of the Chinese market for global luxury retailers and Galeries Lafayette's role in shaping the future of luxury shopping in the region.

Galeries Lafayette Expands in China with New Macau Store Opening

What: Em District is unfazed by the uncertain economy, posting growth from high-spending customers at its three malls during the final quarter of 2023.

Why it is important: The successful performance and growth of the Em District retail at its three malls, indicating positive economic trends and prospects for Thailand's tourism industry.

Chief executive Kriengsak Tantiphipop expressed confidence in the Thailand tourism industry, citing increasing foot traffic from both domestic and foreign visitors, particularly high-spending independent tourists. Despite the number of Chinese tourists not reaching 2019 levels, the majority of visitors were high spenders. The retail sentiment is expected to continue into the first quarter, driven by pent-up travel demand after the pandemic, with an anticipated increase in foreign visitors as flight numbers resume to 2019's level.

Em District recently opened its latest mall, EmSphere, which has surpassed expectations in terms of daily visitor numbers. Furthermore, a concert and multi-purpose hall called UOB LIVE was launched at EmSphere, aiming to host numerous events annually, including a special concert by international singer Ed Sheeran. The venue has state-of-the-art facilities and strategic surroundings in proximity to five-star hotels, positioning it as the preferred concert location for regional tours of global acts.

The Mall Group's EmDistrict posts growth at three malls

What: Galeries Lafayette Haussmann dedicates space to young sustainable and circular fashion brands.

Why it is important: The space reflects a broader push for more responsible fashion consumption and production.

This space, set to open on the second floor, will showcase sustainable and more responsible fashion, including upcycled gender-neutral pieces and second-hand offerings. Featured creators and brands include Marine Serre, Jeanne Friot, Kévin Germanier, and Laani Raani, all known for their eco-friendly and innovative designs. The initiative aligns with the group's commitment to highlighting innovative collections and promoting good practices in the industry.

The group has also launched an eco-responsible program called "Go for Good," featuring about 800 brands on its e-shop and in its network of boutiques.

Galeries Lafayette Haussmann opens a space dedicated to sustainable and circular brands 

What: The Mall Group recently celebrated the achievements of the Thai national team athletes who excelled in the 4th Asian Para Games, held in Hangzhou, China from October 22 to 28, 2023.

Why it is important: The Mall Group continues to actively engage with the community through other commercial and promotional events, further solidifying its presence and commitment to social responsibility.

The event was a regional sports competition for individuals with disabilities, and The Mall Group's contingent secured an impressive total of 31 medals. This haul included 7 gold, 12 silver, and 12 bronze medals, highlighting the exceptional performance of the athletes and employees. Furthermore, the company provided substantial financial support totalling 1,000,000 baht for the athlete employees.

The celebration showcased the Group's commitment to recognizing and encouraging sporting excellence among individuals with disabilities. The event received significant support and engagement through social media platforms such as Facebook, Twitter, and Line.

The Mall Group held a ceremony to honour the athletes of the Thai national team

What: Volker Kachele will take over as the Creative Director at Manor starting February 1, 2024.

Why it is important: The newly created position will report directly to the CEO, and Kachele will focus on enriching Manor's 360 approach and working with Manor's Visual Merchandising, Purchasing, and Marketing teams.

Volker Kachele becomes Creative Director at Manor 

What: El Corte Inglés has acquired a 3,100 square meter building in Puerta del Sol, Madrid, previously owned by the American fund Kennedy Wilson.

Why it is important: The company aims to expand its commercial offering in the area and is considering connecting the newly purchased building to one of its existing properties.

Following the purchase, El Corte Inglés plans to renovate the building and open it to the public, though the specific commercial use has not yet been determined. This acquisition reflects a shift in the group's real estate strategy, which has included repositioning and divestment activities to adapt to changing economic conditions./nbsp]

In line with this strategy, the company has announced plans to sell real estate assets totaling 3,000 million euros. El Corte Inglés values its real estate portfolio at around 16 billion euros, with the majority attributed to department stores, and additional assets including offices, logistics, supermarkets, and land.

El Corte Inglés purchases a building in Puerta del Sol

What: El Corte Inglés has renewed its emissions plan until December 1, 2024, aiming to raise EUR 1.2 billion through promissory note issuance.

Why it is important: The emissions plan highlights the company's commitment to financing sustainability objectives and addressing its debt amid rising prices.

The company has resorted to this financing method despite facing prices and aims to use the funds to meet sustainability objectives related to ESG projects. In addition to this, El Corte Inglés signed a refinancing agreement with over twenty banking entities in March 2022 and obtained support from the European Investment Bank to promote energy efficiency and innovation plans in January of this year.

Financially, the company experienced significant growth, achieving a turnover of EUR 15,327 million in the year ended February 28, 2023, marking a 22.5% increase from the previous year. This growth also boosted the gross operating result (EBITDA) to EUR 951 million and the net result to EUR 870 million , the highest in the group's history.

El Corte Inglés renews its emissions plan for 1.2 billion euros

What: Breuninge is set to launch "Beyond by Breuninger," an exclusive loyalty program for customers across Germany.

Why it is important: This program aims to expand the existing service offering of the Breuninger Card and create an emotionally appealing and diverse world of benefits. "Beyond by Breuninger" builds on Breuninger's longstanding focus on individual customer wishes.

The loyalty program features a multi-level system where customers can collect points to access exclusive capsule collections, special events, promotions, and collaborations with lifestyle partners. The program emphasizes digital access to unique benefits and was designed in collaboration with the artist Cecilia Carlstedt to create an engaging visual experience for Breuninger customers.

Breuninger launches "Beyond by Breuninger"

What: Galeries Lafayette review their organisation for their Chinese operations, co-managed with Hopson Grop.

Why it is important: Such operations are strategically crucial in establishing Galeries Lafayette as a global name for fashion conscious customers.

French department store Galeries Lafayette appointed Nicolas Morineaux, an expert in luxury and finance with extensive experience in Asia, as the managing director of its China operations in December 2023. Morineaux, an ESSEC business school graduate, previously worked for 21 years at LVMH, including roles in Japan and as vice-president finance for LVMH's Asia-Pacific fashion division, and later as sales director Asia at Van Cleef & Arpels.

His appointment aims to boost Galeries Lafayette's growth in China, focusing on an omni-channel and multi-universe strategy. The company, which first entered China in 2013, plans to expand to 10 branches in the country by 2025, including a store in Macau, following a joint venture with the Hopson Group.

Galeries Lafayette currently operates 57 stores in France and 10 internationally. It recently decided to close its sole store in Germany and plans to enter India in 2024 with stores in Mumbai and New Delhi through a partnership with the Aditya Birla Group.

Galeries Lafayette appoints an LVMH / Richemont veteran for their Chinese operations

What: Manor announces the winning artists of the Manor Cultural Prize 2024 from the cantons of Aargau and Valais, Ishita Chakraborty and Raphael Stucky.

Why it is important: The Manor Cultural Prize promotes exhibitions by young artists across various Swiss cantons each year.

Chakraborty, currently based in Aargau, will develop an exhibition for the Aargauer Kunsthaus, scheduled for spring 2025. Stucky, working in Basel, will have a personal exhibition at the Musée d'art du Valais in Sion in fall 2024. These awards follow the earlier announcement of four other winners from the cantons of Bern, Lucerne, Ticino, and Vaud.

Manor Cultural Prize 2024: two more winning artists announced

What: The Mall Group has cut the ribbon on its latest and most ambitious project, Emsphere.

Why it is important: Much more than a new landmark in Bangkok; this new project aims to influence the city structure itself.

The Mall Group has inaugurated a $403 million development, Emsphere, in downtown Bangkok. The Emsphere, envisioned by The Mall Group's chairwoman Supaluck Umpujh as a "sleepless metropolis," offers 24-hour dining and dedicates its fifth and sixth floors to entertainment with about 25 pubs and bars. It also features UOB Live, a large arena, Southeast Asia's first city-centre Ikea, and luxury car showrooms including Rolls-Royce and Porsche. This development is part of the EM district mega project, which also includes the Emporium and Emquartier shopping complexes, aiming to transform the district into a prominent urban area comparable to iconic districts in Dubai, Tokyo, and Shanghai.

The Mall Group's Emsphere opens its doors to the public

What: Boyner continued their tradition of celebrating Retail Employees' Day on December 12th in all of their stores in Turkey.

Why it is important: The day, crafted by Boyner Group,  has been celebrated annually in Turkey since 2012.

This year, the Boyner Group, encompassing 6 companies and over 8,000 employees, celebrated with the theme 'Stars Shine Separately, Shine Together,' including special in-store events and a charitable initiative to support children's education through the Turkish Education Volunteers Foundation. The day, themed "Stars of Merchandising," saw participation from both store and headquarters employees, highlighting the significance of retail staff in the industry.

Boyner celebrates Retail Employees' Day

What: Chalhoub Group has partnered with Inter Parfums, Inc. for the exclusive distribution rights of Roberto Cavalli perfumes in the United Arab Emirates, Bahrain, Kuwait, Saudi Arabia, and Egypt.

Why it is important: This partnership marks a significant step in luxury fragrance distribution and signals Inter Parfums' debut into major regional agreements. Through this collaboration, Chalhoub Group aims to enhance the presence of Roberto Cavalli perfumes across both physical and digital retail platforms.

With an annual size exceeding USD 800M, fragrances dominate the Middle East beauty market. The partnership is aligned with a localized, consumer-centric approach to build the brand's equity in the region. Roberto Cavalli fragrances will be available in Chalhoub Group's stores in the first quarter of 2024, with plans to extend to India and Latin American markets.

Chalhoub partners with Inter Parfums 

What: El Corte Inglés has taken significant steps towards promoting sustainable tourism by launching the second edition of its "Tourism for Sustainable Development Guide" and updating its "Tips for Responsible Tourism".

Why it is important: The collaboration with organisations such as FAADA, WWD, Unicef, and Global Compact highlights the company's dedication to sustainable tourism practices.

The updated tips aim to guide travellers towards more environmentally aware and respectful behaviour while visiting destinations. The second edition of the guide offers a comprehensive approach for stakeholders to adopt sustainable practices, with a focus on strengthening corporate sustainability and fostering greater universal accessibility in the tourism industry. The publications are available in digital format on the website and will soon be found in all travel agencies. Additionally, customers can find a section to book sustainable tourism products on the Viajes El Corte Inglés website.

El Corte Inglés takes another step towards sustainable tourism

What: Breuninger was awarded the German Retail Prize by the German Trade Association.

Why it is important: The award recognises the company's innovative integration of online and physical retail strategies, customer-centric focus, and successful adaptation to the evolving retail landscape, setting a benchmark for excellence in the industry.

Breuninger received this accolade during the Germany Trade Congress held in Berlin from November 15-16, 2023. The award, presented in the medium-sized business category, acknowledged Breuninger's effective integration of online activities, strong customer focus, strategic growth through physical expansion, innovative formats, and an emphasis on customer experience. The CEO of Breuninger, Holger Blecker, accepted the award from Mark Rauschen, President of the Textile Trade Association (BTE), in front of approximately 800 retail industry guests.

Breuninger wins German Trade Prize

What: The Galeries Lafayette Group announces the finalisation of the sale of BHV Mrais and BHV Parly 2 to the SGM Group.

Why it is important: Galeries Lafayette has owned the two department stores for 30 years and strongly believes that the SGM Groupe will be the most committed and innovative player to continue growing the stores' potential with the commitment of its teams.

Galeries Lafayette group finalises the sale of BHV Marais to Groupe SGM

What: El Palacio de Hierro in Mexico began its holiday season with the lighting of its Christmas tree, which was designed by Dior.

Why it is important: The collaboration between El Palacio de Hierro and Dior showcases a unique luxury experience in Mexico that visitors can enjoy until December 31.

The tree is accompanied by a Dior-signed carousel featuring decorative elements inspired by the fragrances "Miss Dior" and J'adore l'Or. Inside El Palacio de Hierro, there is also a pop-up store dedicated to Dior beauty and makeup products.

El Palacio de Hierro teams up with Dior for its Christmas decor