SUR

El Corte Inglés creates new logistics subsidiary with 3,500 employees

The new company will start operations on 1 March and aims to compete with large operators in the sector

EUROPA PRESS

El Corte Inglés Advanced Logistics, a subsidiary created in mid-2021, will begin operations on 1 March with 3,500 employees. The company will be chaired by Marta Álvarez and it will aim to provide logistics services to third parties.

The move coincides with the of the group’s start of the fiscal year. The subsidiary’s employees will come from different areas of the group but maintain their current contract conditions and pay. Unions support the move and said in a joint statement, "This new autonomous business unit will go from providing a service exclusively to El Corte Inglés to competing with large operators in the sector.”

El Corte Inglés currently has two logistics centres, Valdemoro, Madrid, with 2,200 employees, and in Montornés del Vallès, Barcelona, with 650 employees.

El Corte Inglés also announced that it intends to go public before 2028 after reaching an agreement with insurance company Mutua which acquired eight percent of the distribution group.