COMPANY PROFILE -El Corte Inglés
Business Sector :Retail
Operating Geography :Spain, Europe, Global
About El Corte Inglés :
El Corte Ingles is a retail department store chain with its headquarters in Madrid, Spain. In 1934, the business's founders, Ramón Areces Rodriguez and Cesar Rodriguez Gonzalez purchased a tailor's shop on Calle Preciados, one of Madrid's busiest streets, and turned it into a limited corporation. He renamed the tailor's shop El Corte Inglés in 1940. Supermarkets, department shops, hypermarkets, convenience stores, agencies, and digital stores are all part of the company's network. Fashion garments, sporting goods, accessories, cultural products, electronics, household goods, and electrical appliances are among the company's product offerings. Insurance, brokerage, and agency travel services are all available through the organisation. It has subsidiaries in China, Hong Kong, Europe, and South America. El Corte Inglés' business plan is centred on an appealing, broad, and diverse commercial offer that includes innovative items and services continuously. As a result, the firm has pursued a diversification strategy that includes the establishment of new commercial formats such as Hipercor, Superior, Sfera, Bricor, Viajes El Corte Inglés, Seguros, and the SICOR Group, among others. In March 2022, El Corte Ingles completed a new refinancing arrangement with over 20 Spanish and foreign banks, which enhances the retail group's present terms and conditions by locking in stable, lower-cost, and longer-term financing.
El Corte Inglés's unique selling proposition lies in its being Spain's largest privately held corporation, as well as the country's third-largest firm and largest retailer. The mission statement of the company reads, "to generate growth, wealth and employment for society, by striving to achieve full customer satisfaction in every project".
El Corte Inglés Revenue :
€ 12.50 billion – FY ending 28th February 2022
€ 10.26 billion – FY ending 28th February 2021
Competitive Analysis of El Corte Inglés
The SWOT analysis for El Corte Ingles is presented below in a matrix followed by the detailed analysis report:
| Strengths | Weaknesses |
1. Strategic change in business plan to digitalization, diversification and sustainability.
2. Expanding the features of the store card to facilitate its usage within and beyond Spain and Portugal
3. Market highly receptive of the business plans, resulting in greater financial stability
4. Reinforced digitalization thrust by offering in-store pickup and same-day delivery services
5. Adapted to the pandemic by transforming stores to hubs for online order fulfilment
| 1. The company witnessed severe slump in sales and incurred losses due to pandemic
2. Exposed to national economy ups and down due to limited expansion outside Spain and Portugal
|
| Opportunities | Threats |
1. Launched a new app to facilitate user access to products
2. Expanding into telecommunication, facility maintenance and security services to become an ecosystem player
3. Tapped optimal resources for future business prospects
4. Strategic collaboration with SICOR to obtain tailored products and services
| 1. Rigorous marketing and sale campaigns by the company throughout the year might not pull revenue to the pre-pandemic levels |
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Detailed SWOT Analysis of El Corte Inglés
Strength
1. Strategic change in business plan to digitalization, diversification and sustainability: The pandemic was the most challenging period for El Corte Ingles since the eighty years of its establishment. With the implementation of lockdown and social distancing norms, decreased consumer spending was the key factor in net negative sales. The company adapted to the situation and took decisive steps to implement an omni channel strategy. A new app was launched that gave customers access to goods and services across all business areas and online sales marked a year-on-year growth of 130%. The customers could choose to get their orders delivered at home with a nominal delivery charge or to pick their order from their nearby store. The company also diversified its portfolio to become an ecosystem player. The projects taken up were building mobile and fiber operators to provide telecommunication services, end-to-end services such as facility maintenance and home alarms and supply of energy. The firm embarked on new projects in financial services leveraging the experience built up their insurance companies.
The remaining section under "Strength" is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
This section is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for El Corte Inglés is presented below in a table followed by the detailed analysis report:
| Political | Economical |
1. Increase in minimum wages, labour reforms in Spain likely to give more wage bargaining power to workers
2. Government policies to revamp short-term and temporary contracts
| 1. Spanish government to regulate cryptocurrency advertisements, imposes restrictions on influencers
2. Minimum corporate income tax imposed in Spain 2022 budget, applies to firms even if they function abroad
|
| Social | Technological |
1. Department stores focusing on foodservice development as tourism revives
2. Retail industry moving towards implementation of omnichannel strategy
| 1. Companies from various sectors incorporating crypto in their system to adapt to the fintech revolution
2. Firm files for crypto-related trademark, to provide financial services to card users
|
| Legal | Environmental |
| 1. Firm’s appeal on protecting trademark rights against competitor dismissed by court. | 1. Domestic climate laws with provisions for corporate climate action plans to reduce emissions over five years |
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Detailed Pestle Analysis of El Corte Inglés
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
1. Domestic climate laws with provisions for corporate climate action plans to reduce emissions over five years: Spain adopted a Climate Law to regulate logistics and automated transportation in May 2021. This law aims to promote sustainable mobility and research and development in the sector. It is the country's first Climate Change and Energy Transition Law, which commits the country to cutting emissions by 23% by 2030, compared with 1990 levels. The law also has a requirement for corporate climate action plans with measures to reduce emissions over five years. It will regulate building and mobility activities to reduce carbon footprint. El Corte Inglés is working to improve everyone's future and make the planet more sustainable in accordance with national and international regulations. It promotes decent and ethical working conditions for manufacturers and rationalises resource usage and waste production. The Spanish clothing retailer offers a "Responsablymente" collection that uses recycled or organic materials. Reducing resource consumption, limiting greenhouse gas emissions, and preventing and recovering waste are its ultimate objectives.
The remaining section under "Environmental" is available only in the 'Complete Report' on purchase.
Major Brands :
- Hipercor
- Bricor
- Supercor
- Opencor
- Viajes El Corte Inglés
- Informática El Corte Inglés
El Corte Inglés SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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| El Corte Inglés Covid-19 Impact Analysis |
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| El Corte Inglés BCG Analysis |
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| El Corte Inglés Segmentation, Targeting and Positioning (STP) Analysis |
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| El Corte Inglés Ansoff Matrix Analysis |
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Check Out Analysis of Other Relevant Companies
References used in El Corte Inglés SWOT & PESTLE Analysis Report
1. Annual Report - https://ungc-production.s3.us-west-2.amazonaws.com/attachments/cop_2021/506350/original/nonfinancialreport2020.pdf?1640171341
2. Marta Álvarez follows in the footsteps of her father Isidoro in El Corte Inglés - https://okdiario.com/economia/marta-alvarez-sigue-pasos-padre-isidoro-corte-ingles-8422365
3. Analysis: Spain close to reversal of post-crisis labour reforms - https://www.reuters.com/markets/europe/spain-close-reversal-post-crisis-labour-reforms-2021-11-25/
4. The rise of using cryptocurrency in business - https://www2.deloitte.com/us/en/pages/audit/articles/corporates-using-crypto.html
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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El Corte Inglés SWOT and PESTLE analysis has been conducted by Kenishaa M and reviewed by senior analysts from Barakaat Consulting.
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