doc_ECI

1935
Ramón Areces Rodríguez purchases a tailor's shop founded in 1890 that bears the name El Corte Inglés (''The English Cut''), deciding to keep the name, since the
tailor's shop enjoys certain prestige in Madrid at the time.
1939
A new phase starts with the purchase of a property at number 3, Calle Preciados, Madrid. The ground floor, first floor and part of the second floor are made into sales
areas.
1940
Ramón Areces establishes the El Corte Inglés company, with his uncle César Rodríguez as a shareholder and the first chairman of the company.
1945/46
First complete refurbishment of the Preciados building. The sales area now occupies a total of 2,000 square metres, on five floors. A departmental sales structure is
put in place, as in a department store.
1966
Ramón Areces becomes company chairman following the death of César Rodríguez. Throughout the sixties El Corte Inglés expands as a department store, with
centres opening in Barcelona, Seville and Bilbao as well as Madrid.
1969
Establishment of Viajes El Corte Inglés (Travel Agency), with a wide range of domestic and international travel services. The offering is rounded out with specialised
activities such as organising conferences, conventions, etc.
1979
Establishment of Hipercor, designed as a hypermarket, with the usual textiles, household goods, groceries, perishable produce and catering sections, complemented
by El Corte Inglés Shops, a complex of spaces specialising in fashion, gifts, accessories and cosmetics.
1982
Acquisition of an insurance company, Centro de Seguros, and setting up of Grupo El Corte Inglés' insurance brokerage.
1986
Establishment of Investrónica, a company dedicated to the design, manufacture and sale of IT products. Market launch of the 512 X computer model, the first
Spanish-made IBM PC compatible computer, under the brand name Inves.
1988
March sees the incorporation of Informática El Corte Inglés, (Information Technology).
1989
Isidoro Álvarez is appointed chairman of El Corte Inglés following the death of Ramón Areces. Two new companies are set up and start to operate within the
insurance branch: the first is Seguros El Corte Inglés, Vida, Pensiones y Reaseguros, and the second is Seguros El Corte Inglés, Ramos Generales y Reaseguros. The
objective is to enable customers of El Corte Inglés, families and companies to take out cover for personal risks (life and accident insurance) and to offer them ways of
investing.
1995
A major milestone for Grupo El Corte Inglés: the acquisition of the assets of Galerías Preciados. The same year sees the creation of Telecor.
1998
El Corte Inglés and the Repsol group set up a joint venture company called Gespevesa to open service stations with small supermarkets.