The man who turned El Corte Ingl¨¦s into a symbol of modern Spain

Only five days separated the deaths of two of Spain¡¯s leading businessmen. Emilio Bot¨ªn, the emperor of Spanish banking, was survived for less than a week by Isidoro ?lvarez, the country¡¯s emperor of retail distribution. Both were 79 years old.

?lvarez, the chairman of El Corte Ingl¨¦s, died on Sunday at Puerta de Hierro University Hospital in the Madrid satellite town of Majadahonda, where he had been admitted with breathing problems on Wednesday, the day that the chairman of Banco Santander passed away.

According to a company statement, ?lvarez died of ¡°unexpected heart failure¡± after initially showing an improvement in his respiratory troubles.

Under his guidance, El Corte Ingl¨¦s became a ubiquitous presence across Spain, a symbol of modernity, and the store of choice for many Spaniards who appreciated its long opening hours, easy return policies, and the possibility of buying everything they needed in one place. El Corte Ingl¨¦s also became a part of many people¡¯s lives, serving as a meeting point for friends, and an air-conditioned refuge from the summer heat. One of its advertising campaigns, ¡°Ya es primavera en El Corte Ingl¨¦s¡± (It¡¯s already spring at El Corte Ingl¨¦s), has entered the popular lexicon.

Used to working long hours, Isidoro ?lvarez had begun to feel the strain in recent months

Astute, intuitive and reserved, Isidoro ?lvarez was the prototype of the self-made businessman. Respected by his friends and feared by his enemies, he was just 18 when his uncle and?El Corte Ingl¨¦s founder Ram¨®n Areces asked him to join the family business, then a simple tailor¡¯s shop. The young man took up an entry-level position and quickly learned the trade, displaying great tenacity and commercial intuition.

Although he preferred hands-on training, ?lvarez completed his economics and business degree at Madrid¡¯s Complutense University at the age of 22, graduating with honors.

Two years later in 1959 he was named a board member at the company, and in 1989 ?lvarez became chairman following Areces¡¯ death.

He always disliked to be reminded of his family links to the business. ¡°The only secret to joining the leadership of El Corte Ingl¨¦s is team work,¡± he used to say.

?lvarez was always reluctant to expand the group internationally, preferring to focus on the national market as he believed that different nationalities have different idiosyncrasies. Nevertheless, in 2001 El Corte Ingl¨¦s opened a department store in Portugal, later followed by another. Its webpage has been the tool for real international growth in the British, Dutch and Irish markets.

El Corte Ingl¨¦s¡¯ big national rival was Galer¨ªas Preciados, and ?lvarez would visit both department stores incognito to take note of each one¡¯s strengths and weaknesses. His decision to diversify into food, travel and other sectors through offshoots Hipercor, Supercor, Opencor, Bricor, Sfera, Telenor and Viajes El Corte Ingl¨¦s represented a major blow to its eternal rival, which was struggling financially.

Despite longtime assurances that it would never happen, in 1995 El Corte Ingl¨¦s bought out Galer¨ªas Preciados, whose flagship store was located on Madrid¡¯s Callao square. It was the largest deal in the history of Spanish distribution.

The economic crisis that began in 2008 dealt a major blow to El Corte Ingl¨¦s¡¯ sales volumes, but the last fiscal year showed a 6.2-percent rise in consolidated profit.

Used to working long hours, Isidoro ?lvarez had begun to feel the strain in recent months, and had made preparations for a change in leadership. Last year he named his nephew Dimas Gimeno director general of El Corte Ingl¨¦s. Gimeno joined the company while still at university, working as a salesman while he studied law. While El Corte Ingl¨¦s has not confirmed that he will be the next chairman, Gimeno is the most likely candidate to succeed his uncle.

?lvarez leaves behind a consolidated group that nevertheless needs to connect with new forms of distribution and most especially with new generations.