El Palacio de Hierro
Encyclopedia
El Palacio de Hierro (The Iron Palace) is an upscale chain of department store
s in Mexico
.
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 Chicago
(Marshall Field's
).
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 housewares, 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, Coach, Burberry, 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), and Puebla
(1 store), 1 in Guadalajara
(the newest). The company has terrain in the city of Querétaro as a possible future location. Plans for a new store in Guatemala City
are currently under planning and construction, making this the first Palacio outside Mexico.
Department store
A department store is a retail establishment which satisfies a wide range of the consumer's personal and residential durable goods product needs; and at the same time offering the consumer a choice of multiple merchandise lines, at variable price points, in all product categories...
s in Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
.
History
Mexico City
Mexico City is the Federal District , capital of Mexico and seat of the federal powers of the Mexican Union. It is a federal entity within Mexico which is not part of any one of the 31 Mexican states but belongs to the federation as a whole...
called "Las Fábricas de Francia" (The Factories of France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan 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
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
(Le Bon Marché
Le Bon Marché
Le Bon Marché is the name of one of the best known department stores in Paris, France. It is sometimes regarded as the "first department store in the world". Although this depends on what is meant by 'department store', it may have had the first specially designed building for a store in Paris...
), New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
(Macy's
Macy's
Macy's is a U.S. chain of mid-to-high range department stores. In addition to its flagship Herald Square location in New York City, the company operates over 800 stores in the United States...
), London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
(Harrods
Harrods
Harrods is an upmarket department store located in Brompton Road in Brompton, in the Royal Borough of Kensington and Chelsea, London. The Harrods brand also applies to other enterprises undertaken by the Harrods group of companies including Harrods Bank, Harrods Estates, Harrods Aviation and Air...
), and Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
(Marshall Field's
Marshall Field's
Marshall Field & Company was a department store in Chicago, Illinois that grew to become a major chain before being acquired by Macy's Inc...
).
Tron and Leautaud chose to build a five story building. It was, notably, the first building in Mexico City
Mexico City
Mexico City is the Federal District , capital of Mexico and seat of the federal powers of the Mexican Union. It is a federal entity within Mexico which is not part of any one of the 31 Mexican states but belongs to the federation as a whole...
made of iron
Iron
Iron is a chemical element with the symbol Fe and atomic number 26. It is a metal in the first transition series. It is the most common element forming the planet Earth as a whole, forming much of Earth's outer and inner core. It is the fourth most common element in the Earth's crust...
and steel
Steel
Steel is an alloy that consists mostly of iron and has a carbon content between 0.2% and 2.1% by weight, depending on the grade. Carbon is the most common alloying material for iron, but various other alloying elements are used, such as manganese, chromium, vanadium, and tungsten...
. 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
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
with interests in insurance, mining and retail.
It is a comprehensive department store with product lines ranging from clothing, to housewares, 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, Coach, Burberry, Carolina Herrera, Bottega Veneta, and Hermés.
Today, Palacio has stores in Mexico City
Mexico City
Mexico City is the Federal District , capital of Mexico and seat of the federal powers of the Mexican Union. It is a federal entity within Mexico which is not part of any one of the 31 Mexican states but belongs to the federation as a whole...
(10 stores, of which 3 are known as Outlets), Monterrey
Monterrey
Monterrey , is the capital city of the northeastern state of Nuevo León in the country of Mexico. The city is anchor to the third-largest metropolitan area in Mexico and is ranked as the ninth-largest city in the nation. Monterrey serves as a commercial center in the north of the country and is the...
(1 store), and Puebla
Puebla, Puebla
The city and municipality of Puebla is the capital of the state of Puebla, and one of the five most important colonial cities in Mexico. Being a planned city, it is located to the east of Mexico City and west of Mexico's main port, Veracruz, on the main route between the two.The city was founded...
(1 store), 1 in Guadalajara
Guadalajara, Jalisco
Guadalajara is the capital of the Mexican state of Jalisco, and the seat of the municipality of Guadalajara. The city is located in the central region of Jalisco in the western-pacific area of Mexico. With a population of 1,564,514 it is Mexico's second most populous municipality...
(the newest). The company has terrain in the city of Querétaro as a possible future location. Plans for a new store in Guatemala City
Guatemala City
Guatemala City , is the capital and largest city of the Republic of Guatemala and Central America...
are currently under planning and construction, making this the first Palacio outside Mexico.