El Palacio de Hierro
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| Type | Department store |
|---|---|
| Industry | Retail |
| Founded | 1850 as Las Fabricas de Francia, 1891 as El Palacio de Hierro |
| Headquarters | Mexico City, Mexico |
| Key people | José María Blanco Alonso, (CEO) |
| Products | clothes, cosmetics, electronics, furniture |
| Website | www.elpalaciodehierro.com.mx |
El Palacio de Hierro (El Palacio de Hierro S.A. de C.V.) (English: The Iron Palace) is an upscale chain of department stores in Mexico.
[edit] History
In the 1850s, a clothing store opened in Mexico City called "Las Fábricas de Francia" (The Factories of France) which was owned by Victor Gassier, a Frenchman. In 1860, Gassier teamed up with Alexander Reynaud, forming a business called Gassier & Reynaud.
In 1876, José Tron and José Leautaud bought in, forming the association V. Gassier & Reynaud, Sucs. S. en C. In 1879 the business' formal name was changed to J. Tron y Cía.. However, it continued to trade as "Las Fábricas de Francia". From here Tron and Leautaud's endeavor met with considerable success.
In 1879, they began planning to build a department store in Mexico City similar to famous upscale, and high class stores in Paris (Le Bon Marché), New York City (Macy's), London (Harrods), and Amsterdam (De Bijenkorf).
In 1888 they bought land to construct their new department store. They hired the french architect George Debrie for the project and construction was to last until 1891.
Tron and Leautaud chose to build a five story building. It was, notably the first building in Mexico City made of iron and steel. As the first such structure in Mexico, people who passed by often asked "What iron palace are they building?". In 1891, when construction finished, Tron and Leautaud decided to rename the business "El Palacio de Hierro", taking advantage of the publicity they earned during construction.
Nowadays, El Palacio de Hierro is part of Grupo Bal a diversified conglomerate in Mexico with interests in insurance, mining and retail.
It is a comprehensive department store with product lines ranging from clothing, to houseware, furniture, jewelry, select foods, toys, spa, travel services, and electronics. Especially in the clothing area, it is a high-end retailer, carrying top Mexican domestic brands, as well as hosting many in-store boutiques from exclusive lines such as Tiffany, Cartier, Louis Vuitton, Gucci, Ferragamo, Chanel, Burberry, Purificación García, Carolina Herrera, Bottega Veneta, and Hermés.
Today, Palacio has stores in Mexico City (10 stores, of which 3 are known as Outlets), Monterrey (1 store), Puebla (1 store), and Guadalajara (its newest store). The company owns an adequate lot in the city of Querétaro as a possible future location. Plans for a new store in Guatemala City are currently in planning and construction, making this the first Palacio outside Mexico.
[edit] External links
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Wikimedia Commons has media related to: El Palacio de Hierro |
