24 August 2021
The Weekly
Spain

With the aim of improving the efficiency of the group’s purchases, the Spanish retail giant has completed a consolidation that has reduced the number of suppliers practically in half, from 58,117 on February 28, 2020 to 31,488 at the end of the last fiscal year. With a volume of purchases in the last fiscal year of €8,377.9mn, 23.5% less due to the drop in activity due to the closure of stores and restraints, El Corte Inglés maintains a firm commitment to Spain, where 77% of its suppliers and 84.8% of its total volume of purchases are coming from. This commitment to local suppliers has also been consolidated with the MÑ Made in Spain program in fashion and accessories for own-brand garments such as Emidio Tucci, Én Emphasis Black or Gloria Ortiz. El Corte Inglés assumes the supervision of good practices in Environmental, Social and Good Governance (ESG) aspects, as well as respect for Human Rights throughout the supply chain, using different tools such as risk analysis, audits or training, among others. Thus, suppliers must pass the group’s approval process, which begins with an examination of their performance in terms of legal compliance and is extended to an analysis of financial solvency.

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