IADS Exclusive: The secret sauce to El Palacio de Hierro’s excellence

IADS Exclusive October 2023 Christine Montard

The Mexican member of the IADS, El Palacio de Hierro, is one of the largest in the world by turnover. Founded in 1891 with a store in the centre of Mexico City, the company was the first Public Limited Company in the country’s retail industry. El Palacio de Hierro, owned by Grupo Bal, is also the owner of shopping centres in the country.

Lately, the introduction of experiences to generate traffic and answer customers’ expectations has been key to El Palacio de Hierro’s strategy. Whether it is Polanco, Perisur or their new Coyoacan store, each of them offers something unique, from architectural features (such as Coyoacan’s huge 1,270 square-meter glass dome on the top floor) to product offerings and unprecedented and tailor-made services. Celebrating Mexican history, culture, and art, each store reflects the group’s strategy of offering different designs inspired from their direct environment. 

The IADS travelled to Mexico for the CEO mid-year meeting in May 2023, an opportunity to visit the Coyoacan store and the recently refurbished Polanco and Perisur stores.

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. 

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