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Spanish business giant Isidoro Alvarez dies 79

Spanish business giant Isidoro Alvarez dies 79
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One of Spain’s most celebrated retailers Isidoro Alvarez has died at the age of 79.

Although shy of publicity Alvarez is credited with turning the department store chain El Corte Ingles into a household name in Spain.

Although recently hit by the economic crisis the privately owned group had sales of more than 14 billion euros last year.

Founded in the 1930s when his uncle bought a small tailor’s in central Madrid, El Corte Ingles became a retail darling for Spaniards in the 1970s with its then groundbreaking promise of no-questions-asked product return policy.