What: Manor is opening a new multi-storey flagship store in Zurich's Jelmoli building, featuring diverse shopping worlds across fashion, beauty, home & living, and more.

Why it is important: This significant investment revitalizes Manor's presence in Zurich, offering a broad customer base an enhanced shopping experience with a mix of international brands and Manor's own products, while emphasizing sustainability and local sourcing.

Manor, Switzerland's largest department store group, is set to open a new flagship store in Zurich's city center in 2027. Spanning around 13,000 square meters across three floors, the store will be located in the iconic Jelmoli building. It will feature a wide range of products, including fashion, beauty, home & living, toys, stationery, sport, multimedia, and electronics, along with a diverse catering service offering freshly made dishes using locally sourced ingredients. The new store aims to provide an inspiring customer experience with a mix of renowned international brands and Manor's private label at attractive prices. This investment is part of Manor's broader strategy to modernize its offerings and reinforce its position as Switzerland's leading omnichannel retailer.

Manor returns to Zurich City Centre with multi-storey flagship store

What: Galeries Lafayette has redesigned its Jodhpur brand, targeting modern forty-somethings with distinctive, travel-inspired fashion pieces.

Why it is important: This revamp aims to rejuvenate the brand's market presence and align it with current fashion trends, enhancing its appeal to both loyal customers and a younger demographic.

Galeries Lafayette has relaunched its Jodhpur brand, updating its style and identity to better resonate with contemporary fashion trends. The new Jodhpur collection, limited to under 200 references, emphasizes distinctive, travel-inspired designs, including updated versions of classic pieces like trench coats and sailor shirts. The brand incorporates sustainable materials, earning the 'Go for good' label, and offers a range of accessories to complete the wardrobe. With a mid-high-end price point, the collection aims to attract new consumers and rejuvenate Galeries Lafayette's clientele. The revamped Jodhpur will be showcased in updated store layouts, starting at the Haussmann flagship, with plans to achieve 30-50% sales growth within three years.

Galeries Lafayette revamps Jodhpur brand for modern appeal

What: Bloomingdale's has appointed David Thielebeule as its new men's fashion director.

Why it is important: The appointment of David Thielebeule, a seasoned editor and stylist with extensive experience in the fashion industry, reflects Bloomingdale's commitment to maintaining a strong editorial presence and authority in the market. His role will focus on discovering new brands, building relationships with vendors, and amplifying the store's storytelling capabilities.

David Thielebeule, previously the founding editor-in-chief of Grazia USA, has joined Bloomingdale's as the men's fashion director. With over 15 years of experience, including roles at the Wall Street Journal Magazine and Harper's Bazaar, Thielebeule is expected to bring a strong editorial perspective to the department store. Reporting to Kevin Harter, group vice president of integrated marketing, Thielebeule will oversee men's fashion, attend shows, and enhance Bloomingdale's storytelling. He succeeds Justin Berkowitz, who left to join NN.07 as a strategic partner.

Bloomingdale's names new men's fashion director

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: Galeries Lafayette in Berlin is closing its doors on July 31, leaving uncertainty about the future use of its iconic location on Friedrichstrasse.

Why it is important: The closure signifies a major shift in Berlin's retail landscape, highlighting the challenges faced by traditional department stores amidst changing consumer habits and economic pressures. It also raises questions about the future of retail spaces and their potential new uses in urban environments.

After nearly 29 years of operation, the Galeries Lafayette on Friedrichstrasse in Berlin will close on July 31, 2024. The decision to close follows years of financial struggles exacerbated by shifting consumer behaviours. The store, once a significant cultural and commercial hub, leaves behind a legacy as Berlin's beacon of French luxury and lifestyle. While the closure impacts the store's 150 remaining employees, a social plan has been set to support them. The future of the prime location remains uncertain, with discussions ongoing about potentially transforming the space into the Berlin Central and State Library, although funding and final decisions are pending. The closure mirrors broader challenges faced by department stores both in Germany and France, as the retail industry undergoes significant transformation.

Galeries Lafayette faces closure: What happens next?

What: El Corte Inglés has appointed Gastón Bottazzini as the new CEO, reinstating the position that has been vacant since 2022.

Why it is important: The appointment of a new CEO signifies a strategic move to enhance leadership and drive transformation within the company. Bottazzini's experience with Falabella is expected to bring valuable insights and strategies to El Corte Inglés, aiming to strengthen its market position and operational efficiency.

El Corte Inglés has reinstated the CEO position with the appointment of Gastón Bottazzini, former CEO of Falabella. Bottazzini joined El Corte Inglés earlier this year as an advisor and will now oversee the work of the two general directors, José María Folache and Santiago Bau. The executive committee, including Marta Álvarez Guil, will monitor his performance. This leadership change comes as the company reported a 5.4% increase in turnover to EUR 16,333 million and a significant rise in recurring net profit by 73.7% to EUR 359 million for the 2023-2024 financial year.

El Corte Inglés appoints Gastón Bottazzini as CEO

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: 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: 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: Galeries Lafayette Paris Haussmann is partnering with the international campaign to showcase France's audacity and innovative spirit.

Why it is important: This collaboration highlights Galeries Lafayette's role in promoting France's economic dynamism, cultural vitality, and tourist attractions to millions of international visitors, especially during the 2024 summer's major sporting events in Paris.

Galeries Lafayette Paris Haussmann, an iconic Parisian department store, has partnered with the Government Information Service to participate in an international campaign aimed at promoting France's innovative and bold spirit. The campaign focuses on France's economic dynamism, cultural and artistic vitality, and tourist attractions. As part of this initiative, Galeries Lafayette is offering an XXL photocall experience, "Make it iconic. Choose France," from July 3 to August 28, 2024, in front of its historic dome. This event coincides with the third edition of the Galeries Lafayette summer event, French Touch 2024, which is expected to attract 10 million tourists during the Paris Olympic summer. The partnership aims to enhance France's international appeal and share its rich heritage and contemporary lifestyle with global visitors

Galeries Lafayette Paris Haussmann joins France's global promotion campaign

What: Galeries Lafayette Haussmann has opened (Re)-Store Kids, a new second-hand goods area in its children's section, offering pre-loved clothing and toys across three specialized spaces.

Why it is important: The initiative underscores the growing trend and demand for sustainable and circular economy practices in retail. By expanding its second-hand offerings, Galeries Lafayette is catering to environmentally-conscious consumers and promoting sustainability in children's fashion and toys.

Three years after launching (Re)-Store, Galeries Lafayette Haussmann has introduced (Re)-Store Kids, a second-hand retail space on the fifth floor of its Parisian department store. Spanning 85 square meters, the new area focuses on children's ready-to-wear and toys. It features three main operators in the circular economy: Family Affaire, offering brands like Bonpoint and Petit Bateau; Club Trésor, showcasing vintage and upcycled pieces from the 50s to the 2000s; and Kidibam, presenting a selection of vintage and second-hand toys. This expansion highlights the department store's commitment to sustainability and catering to the growing market for pre-loved goods.

Galeries Lafayette Haussmann expands second-hand offerings with (Re)-Store Kids

What: El Palacio de Hierro reported a 23% increase in net profit, reaching USD 71 million in the first half of the year, with a total turnover of USD 1.37 billion.

Why it is important: This growth highlights the robust performance and strategic success of El Palacio de Hierro, particularly in its online sales channel, which saw a significant 36% increase. This success is indicative of the company's ability to adapt and thrive in the evolving retail landscape, maintaining strong growth amidst broader market challenges.

El Palacio de Hierro, led by CEO Juan Carlos Escribano, closed the first half of the year with a 23% increase in net profit, totaling USD 71 million. The company's turnover reached USD 1.37 billion, marking a 9.2% year-on-year increase. This growth is largely attributed to the impressive 36% rise in online sales.

The company's EBITDA also saw a 17% rise, amounting to USD 198 million. El Palacio de Hierro outperformed the average market growth reported by the National Association of Self-Service and Department Stores (ANTAD), with same-store sales growth of 6.6%. The company has also expanded its commercial offerings, adding more Spanish brands and maintaining exclusive partnerships with major luxury brands.

El Palacio de Hierro reports 23% profit increase

What: Falabella's Basement brand will design and produce the uniforms for the Chilean delegation at the opening ceremonies of the 2024 Paris Olympic and Paralympic Games.

Why it is important: This collaboration highlights Falabella's commitment to supporting national athletes and showcasing local design talent on an international stage. It also reinforces the company's brand presence and dedication to high-quality, fashionable attire.

Falabella has announced that its brand Basement will design and produce the uniforms for the Chilean athletes at the 2024 Paris Olympics and Paralympics opening ceremonies. The uniforms, crafted by designers Paula Breve and Catalina Undurraga, feature handmade finishes, noble materials like linen, and the colors of the Chilean flag. The creation process involved over 20 collaborators and took place at Mavesa, Falabella's factory in Chile. Loreto Santa Cruz, general manager of the Olympic Committee, and Angela Casassa, marketing manager of Falabella Retail Chile, expressed their pride and gratitude for this collaboration, which aims to ensure the athletes' comfort and style at this prestigious event. The Olympic opening ceremony will be held on July 26 along the Seine River, and the Paralympic ceremony on August 28 at the Place de la Concorde.

Falabella to dress Chilean delegation for Paris 2024 Olympics

What: Bloomingdale's has launched a new Carousel shop curated by Venus Williams, featuring the exclusive Aqua x Venus Williams collection.

Why it is important: This collaboration with Venus Williams showcases Bloomingdale's commitment to merging fashion and athleticism, offering a unique shopping experience that blends chic athleisure with luxury elements.

Bloomingdale's has introduced its latest Carousel shop, "Game On," curated by tennis star Venus Williams. The shop, available in-store and online, highlights the Aqua x Venus Williams collection, featuring a range of athletic and ready-to-wear apparel inspired by Williams' personal style. The collection includes active sets, cashmere cardigans, and statement pieces designed to empower women. The launch, in partnership with Air France, also includes exclusive items from brands like Anine Bing and Longchamp. The Carousel shop will offer various customer activations and will be open through August 26. Williams aims to create pieces that make women feel confident and powerful, reflecting her passion for fashion and empowerment.

Bloomingdale's gets its 'Game On' with Carousel shop curated by Venus Williams

What: OTB Group has formed a strategic joint venture with Chalhoub Group to expand its luxury brand presence in the Middle East by launching 15 new stores over the next five years.

Why it is important: This partnership marks a significant expansion for OTB in key Middle Eastern markets, leveraging Chalhoub Group's regional expertise to enhance the visibility and accessibility of luxury brands.

Italian fashion conglomerate OTB, led by Renzo Rosso, has partnered with Chalhoub Group to significantly expand its presence in the Middle East. The joint venture aims to open 15 new stores across the UAE, Qatar, Saudi Arabia, and Kuwait within the next five years. This initiative will bolster OTB's existing presence, including the Maison Margiela store in Dubai Mall, and focus on enhancing each brand's e-commerce platforms and local marketing activities. Chalhoub Group, a regional leader in luxury retail, will help integrate OTB's iconic brands into the Gulf region, providing high-quality offerings and personalized customer experiences.

OTB partners with Chalhoub Group to expand in the Middle East

What: The Manor Cultural Prize 2025 has announced its winners from various Swiss cantons, recognizing new talents in contemporary art.

Why it is important: The Manor Cultural Prize is a significant platform for emerging Swiss artists, providing them with exposure, financial support, and opportunities to exhibit their work, which can be a crucial step towards an international career.

The Manor Cultural Prize 2025 has revealed its winners, celebrating the diversity and innovation in contemporary art across Switzerland. The winners include Cassidy Toner (Basel-City and Basel-Country), Noemi Pfister (Graubünden), Sarah Benslimane (Geneva), Andrin Winteler (Schaffhausen), and Lorenza Longhi (Zurich). Each artist will have the opportunity to exhibit their work in a major institution in their respective canton and receive a monographic publication of their works. This initiative, launched in 1982, continues to support young Swiss artists, helping to elevate their careers on an international scale.

The 2025 winners showcase a wide array of mediums and themes, from sculpture and ceramics to painting and video installations. This year's winners explore diverse topics such as desire, existence, and social dynamics, reflecting the Prize's commitment to promoting a broad spectrum of artistic expression. The award not only provides financial support and recognition but also plays a crucial role in fostering the development of Switzerland's vibrant contemporary art scene.

Manor Cultural Prize 2025: new talents awarded!

What: Adidas has opened a new store in Breuningerland Sindelfingen, showcasing its "Home of Sports" concept on a 625-square-meter space.

Why it is important: This store launch coincides with the start of the European Championships, featuring a broad range of products and marking a significant expansion in Adidas's retail footprint in the region, emphasizing sport, culture, inclusion, and sustainability.

Adidas has inaugurated a new store in Breuningerland Sindelfingen to celebrate the European Championships. The store, spanning 625 square meters, offers a variety of products from running shoes to streetwear under the "Home of Sports" concept. Center manager Andreea Risch highlighted the addition as an attractive and versatile brand expansion. To commemorate the opening, Adidas has introduced an oversized version of the official European Championship soccer ball "Football Love," which will be raffled to a regional football club post-tournament. Breuningerland Sindelfingen, managed by Unibail-Rodamco-Westfield, features three floors, 120 tenants, and a shopping area of approximately 52,000 square meters.

Breuningerland Sindelfingen welcomes new Adidas store ahead of European Championships

What: El Palacio de Hierro has opened "Mencare," a new space dedicated to men's personal care, within the "Belleza Palacio" area in four of its stores.

Why it is important: This launch aligns with global trends and the growing demand for beauty and skin care products among men, enhancing the luxury department store's offerings and catering to a broader audience.

El Palacio de Hierro, Mexico's leading luxury department chain, has introduced "Mencare," a dedicated space for men's beauty and personal care, in its stores in Durango, Santa Fe, Interlomas, and Querétaro. This new section within the "Belleza Palacio" area features top brands such as Acqua Di Parma, Clinique, Sisley Paris, and Shiseido, among others, and offers expert-managed personal care experiences. The initiative is part of the company's effort to cater to the increasing demand for men's skincare and grooming products.

El Palacio de Hierro opens its new space "Mencare"

What: Magasin has reported a 1% growth in turnover for 2023 and is investing heavily in new business areas and properties to drive future growth, despite challenges from a recent warehouse move.

Why it is important: Magasin's strategic investments in real estate and new business ventures signify its commitment to long-term growth and resilience. By expanding its omni-channel presence and acquiring new brands, the 150-year-old department store aims to enhance customer experience and increase market share, positioning itself for sustained success in a competitive retail landscape.

Magasin, the historic department store, reported a turnover of 2.9 billion kroner in 2023, reflecting a 1% growth despite logistical challenges from a warehouse relocation. CFO Michael Jelbo expressed satisfaction with the results and highlighted the company's expanded business areas and significant investments as key drivers for future growth. Magasin's parent company, Emil Holding, increased its equity by 148 million kroner, bolstered by earnings from Magasin and returns on its property portfolio. The department store now owns buildings in Aalborg, Aarhus, Odense, Lyngby, and Copenhagen, and has made notable acquisitions, including the sex toy brand Lust, sunglasses company MessyWeekend, and swimwear brand Copenhagen Cartel. Looking ahead, Magasin plans to invest 70 million kroner in enhancing both physical stores and digital platforms, with a focus on improving customer experience through innovative IT solutions and service enhancements.

Magasin bets on properties and investments for growth

What: The General Shareholders' Meeting of Falabella Peru has approved a partial spin-off of the company to facilitate the transfer of assets to Mallplaza.

Why it is important: The spin-off is a strategic move to streamline the asset transfer process to Mallplaza, while also maximizing shareholder returns through a substantial dividend distribution.

Falabella Peru's shareholders have approved a partial spin-off to transfer real estate assets to Mallplaza. This decision, made on June 20, 2024, involves creating a new entity, Inverperú Inmobiliaria SAA, to manage specific assets not included in the Mallplaza acquisition. The spin-off will reduce Falabella Peru's share capital by redeeming over one billion common shares, with Inverperú taking over these assets. Concurrently, shareholders approved a USD 150 million dividend distribution. The transfer, valued at USD 848 million, will expand Mallplaza's presence in Peru to 15 shopping centers. The spin-off and asset transfer are expected to be completed by September, with both Falabella Peru and Inverperú shares continuing to be listed on the Lima Stock Exchange.

Falabella Peru approves partial spin-off as part of transfer of assets to Mallplaza

What: The Mall Group Company Limited is hosting "Innovation Keeping the World 2024," an event focused on sustainable innovation and environmental issues.

Why it is important: The event aims to address global warming and environmental sustainability through showcasing business innovations and promoting sustainable practices. It also encourages customer participation in environmental conservation.

From June 6 to December 31, 2024, The Mall Group Company Limited is organizing "Innovation Keeping the World 2024," an event dedicated to sustainable innovation to combat the global environmental crisis. The event will feature business showcases highlighting sustainable practices through ESG (Environmental, Social, and Governance) principles. Among the highlights is the PET Bottle Machine, an automatic bottle return machine that has garnered significant interest from attendees. The event also includes various campaigns aimed at engaging customers in environmental conservation efforts.

The Mall Group hosts Innovation Keeping the World 2024

What: El Corte Inglés is expanding its low-cost clothing brand Unit by opening standalone stores.

Why it is important: This move signifies El Corte Inglés' strategy to compete more aggressively in the low-cost fashion market against established brands like Primark and Lefties, potentially increasing its market share and brand presence.

Launched in 2017 and initially sold exclusively at Hipercor, El Corte Inglés' low-cost clothing brand Unit is set to expand with its own stores. The brand currently has three locations in Majadahonda, Rivas Vaciamadrid, and Portal de l'Àngel in Barcelona, and plans to open a fourth store in El Escorial. Led by Antonio Travesedo, the project aims to explore further development opportunities, replicating the strategy used for their Sfera brand, which competes with Zara. Unit offers a range of women's, men's, and children's clothing, along with lingerie, footwear, and accessories, employing around 60 people.

El Corte Inglés promotes its low-cost brand Unit with its own stores

What: El Corte Inglés reported its highest Recurring Net Income since 2009, with significant growth across its retail, travel, and insurance sectors.

Why it is important: This milestone underscores the company's robust performance and strategic initiatives, including enhanced profitability, improved efficiency, and strong market positioning in various segments.

In the fiscal year 2023-24, El Corte Inglés achieved a milestone by recording its highest Recurring Net Income since 2009, demonstrating significant growth across its primary business segments: retail, travel, and insurance. The company's Total Transaction Value reached 16,333 million euros, marking a 5.4% increase from the previous year. Retail operations contributed 12,845 million euros, with notable gains in fashion, beauty, food, and hospitality sectors.

The company's EBITDA rose to 1,081 million euros, reflecting a 13.6% year-over-year increase. This improvement was driven by enhanced profitability and operational efficiency. The retail division's EBITDA alone surpassed 840 million euros, while the travel segment achieved a remarkable 84.5% increase, reaching nearly 93 million euros.

El Corte Inglés also achieved significant progress in its online sales, which saw over 900 million visits and more than 17 million online orders, an 8.5% increase from the previous year. The company's financial services and insurance divisions also reported strong performance, with Financiera El Corte Inglés exceeding three million customers and the insurance business recording a 16% increase in policies.

Financially, El Corte Inglés reduced its net financial debt to 2,059 million euros, the lowest level in 16 years, achieving a 1.9x Net Financial Debt to EBITDA ratio. This financial robustness, coupled with the company's solid performance, earned El Corte Inglés an Investment Grade credit rating from Standard & Poor's and Fitch Ratings for the first time in its history.

The company's commitment to sustainability was also highlighted, with significant efforts in resource management, waste reduction, and responsible manufacturing practices. These initiatives earned El Corte Inglés an "AA" ESG Rating from MSCI and the top ESG Risk Rating from Sustainalytics among its peers.

Investments in technology, product development, and store renovations were significant, with 25 stores undergoing refurbishment. Notable renovations included stores in Bilbao, A Coruña, Málaga, and Pozuelo (Madrid), and the acquisition of the iconic building at Puerta del Sol 10 in Madrid.

Overall, El Corte Inglés' fiscal year 2023-24 results reflect a strong and resilient performance across its diverse business lines, underpinned by strategic investments, sustainability commitments, and a robust financial position.

El Corte Inglés releases 2023-2024 fiscal results

What: El Corte Inglés has successfully placed senior bonds worth 500 million euros with strong investor demand exceeding the offer by seven times.

Why it is important: This bond issue marks a significant milestone for El Corte Inglés, reflecting strong investor confidence and providing the company with diversified financing sources. The funds will support general corporate needs and the issuance is backed by an "investment grade" corporate rating from Standard & Poor's and Fitch, highlighting the company's solid financial position.

El Corte Inglés has completed a highly successful bond placement, raising 500 million euros through senior bonds maturing in June 2031 with an annual coupon of 4.25%. The issuance, aimed at qualified investors, saw demand exceeding the offer by approximately seven times, with 240 investors participating. This is the most oversubscribed operation by a Spanish company since November 2020. The strong demand and the investment grade rating from Standard & Poor's and Fitch underscore investor confidence in El Corte Inglés, bolstered by its robust financial performance in the 2023-2024 fiscal year. The company reported a 5.4% increase in revenue to 16,333 million euros and a 73.7% rise in recurring net profit to 359 million euros. The funds from the bond issue will be used for general corporate purposes, further strengthening the company's financial flexibility.

El Corte Inglés places a bond issue worth 500 million euros