Spain's Inditex and Mercadona are among the 50 largest family businesses in the world

Cristina Cándido

Tuesday, 25 March 2025, 20:32

For the first time two Spanish companies are among the 50 largest family retailers by turnover in the world. The Ortegas (Inditex) and the Roigs (Mercadona) are up there in a list which includes nineteenth-century family-owned businesses such as the German Bosch (1866) or the Swiss Roche (1896), according to the World Family Business Index. The list has been compiled every two years for the past decade by EY consultancy and the University of St Gallen and to which SUR has had exclusive access.

"It is a reality that both Inditex and Mercadona - with two different business models and sectors- are successful examples of leadership, profitability, efficiency and positive impact in their geographical areas. Their models are studied in many business schools around the world and showcase the talent, hard work and ability to shape the future of Spanish family businesses and their managers," said David Ruiz-Roso, partner in charge of EY's Private-Family Business practice.

The clothing empire built up by Amancio Ortega from the GOA brand, his first firm, and which his daughter Marta took over in 2022 as non-executive chairperson, has climbed this year to 43rd place from 51st, with a turnover of almost 36 billion euros, according to the report. The latest results recently presented by the company show that sales growth in 2024 was 7.5% to 38.63 billion euros. Inditex is now eighth in the world in the retail segment.

Mercadona climbed six places to 48th thanks to the 33.1 billion euros in turnover included in the index (its latest results for 2024 increase its turnover by nine per cent to 38.8 billion euros). In 2021 it was in 47th position. With 13 family-run businesses in the 2025 list, Spain has grown compared to the previous review in a list of 500 companies in which almost half (47%) are European.

In addition to the flagships of Spanish retail, eleven other Spanish companies are among the half a thousand companies in this category globally: Acciona, El Corte Inglés, Gestamp, Ferrovial, Grifols, Catalana Occidente, Antolín, Puig Brands, Prosegur and Técnicas Reunidas.

"The evolution is very positive, with two new companies this year in the on the list of the top 500, in markets where Spanish companies are also leaders, such as Barceló (269th place) in the hotel and tourism sector, and Puig (393rd place) in the premium beauty products sector. This demonstrates the capacity for growth, internationalisation and resilience of Spanish family businesses," says Ruiz-Roso.

Together, the thirteen Spanish companies in the ranking have around 171 billion euros in revenue and generate more than 735,200 jobs.

The overall figures show that there are 78 German companies, followed by France and Monaco (27), Italy (22), Switzerland (17) and the United Kingdom (14). Spain is next with13. But, in detail, the most relevant data for the analysis is the average income of our national companies, where they compete in terms of average income with German companies, compared with the average size of Spanish small and medium-sized enterprises (SMEs) compared with German companies. In Spain, the average company employs 4.7 people, while Germany is almost double this size, with around seven employees per company. "This shows that to be profitable, sustainable and resilient over time, you need size. And it highlights the need for growth in a global world," concludes Ruiz-Roso.