In an operation that redefines the European fashion panorama, Multiply Groupthe investment holding of the royal family of Abu Dhabi (Capital of United Arab Emirates)he has acquired a majority participation 67.91% in Tendamhe largest Spanish fashion group in the country by market share, owner of brands such as Cortefiel, Springfield and Women'Secret. This transaction, valued in approximately 1,000 million eurosmarks the entry of Multiply Group into the retail and fashion sector, with tendam as a cornerstone for its new international expansion strategy.
With the operation -being to be approved by the relevant regulatory authorities -, Multiply Group seeks to make the most of the experience and resources of the Emirati holding company with the objective of duplicate your operational ebitda (Benefit before interest, taxes, depreciation and amortizations, but excluding non -recurring income or alien to the main business) and leading the next tendam growth phase, focused on the global expansion and strengthening its ecosystem omnicanal.
The details of the purchase of Tendam by Multiply Group
Multiply Group has agreed to invest through a capital expansion that gives it a control participation in Castilian Investments S.à RL, the Matrix of Tendam. The previous major shareholders, the CVC and PAI Partners investment funds will maintain minority participations in the company. This shareholding structure seeks to combine Multiply Group's investment experience with the previous knowledge of CVC and PAI about the European fashion market.
Samia Bouazza, CEO and General Director of Multiply GroupHe stressed that this control participation in Tendam meets three strategic objectives for the holding company: moving towards a double digit ebitda growth, entering the retail and fashionable sector, and expanding globally. Bouazza said: “This acquisition is a tangible step that is part of our global expansion efforts, placing the group in a strategic position to continue expanding the international presence of Tendam,” he said Bouazza
For its part, Jaume Miquel, President and CEO of TendamHe said that “the entry of Multiply Group as a majority shareholder will allow us to accelerate our growth plans and consolidate our position as leader in the Omnicanal Fashion sector in Europe.” Miquel also stressed the importance of maintaining the identity and values that have characterized Teuedam throughout its history.
The now minority shareholders also expressed their enthusiasm with the operation. The Director of Llano Holdings S.à RL, Caroline GoergenHe said that they are delighted with this new society and that they feel very grateful to the tendam management team, which “has created a unique brand ecosystem and has far exceeded the market.”
The PAI's membership and responsible for Spain in Spain, Laura MuriesHe said that since the company invested in Tendam, the success was exceptional: “Tendam is a leading and very profitable omnicanal company, with unique access to 24 million customers and that grows constantly above the market,” he said.
The importance of tendam in Spanish fashion and economy
Founded in 1880, Tendam has evolved to become one of the main fashion groups in Spain and Europe. Its portfolio includes Twelve brands: Cortefiel, Springfield, Women'secret, Pedro del Hierro, hoss intrapia, high spirits, dash and stars, Ooto, Hi & Bye, Milano and Fiftyeach aimed at specific market segments and with a strong presence in both physical stores and digital platforms. In addition to their own brands, the group also markets near 200 third -party brands.
These are some of the most popular brands of the holding (which you surely already know):
Cortefiel: Historical brand that offers elegant and functional fashion for men and women, highlighting for their quality and timeless design.
Springfield: casual youth fashion, aimed at an urban and dynamic audience.
Women'Secret: Specialized in intimate and bathing fashion for women, recognized for their innovation and attractive design.
Pedro del Hierro: Accessible luxury firm that combines tradition and modernity in its fashion proposals for men and women.
Hoss intropia: female garments with a bohemian and sophisticated style, focused on originality and quality.
Slowlove: Eco-Friendly garments and accessories.
Expansive and omnichannel approach
Tendam's success is based on a business model that efficiently integrates its physical and digital channels, creating an omnichannel ecosystem that maximizes customer experience. The group has a solid central electronic commerce platform and many independent platforms for each of the brands in their corresponding markets. They offer their customers multiple purchase options and personalized services.
In addition, it has a network of More than 1,800 points of sale (including own management stores, corneres and franchises) in near 80 countries of 4 continents. The company's most relevant markets are Spain, Portugal, France, United Arab Emirates and Latin America.
One of the fundamental pillars of this strategy is its robust loyalty programwhich has more than 35 million members. This program allows tendam to collect valuable data on the preferences and behaviors of its customers, facilitating a Personalized offer and improving consumer satisfaction.
A market valued at 1.3 billion euros
Since 2020, Tendam has registered a constant growth quarter to quarter, consolidating its business model in key markets and expanding its international presence. According to official data, at the end of January 2025, the group's total sales for the last twelve months reached about 1.4 billion euros and the recurrent Ebitda (Ebitda eliminating exceptional income or expenses, such as sale of assets, compensation, or unique events ) It was 341 million euros.
For its part, in 2024 Multiply Group He also obtained excellent results in his main business areas, consolidating his leadership in Mobility, media and beauty. The company's income grew 56% year -on -yearovercoming the 2,000 million dirhams (about 518 million euros). This impulse was due to a solid two -digit organic growth In all its divisions. As a result, the Ebitda of the group increased by 15%reaching the 1.9 billion dirhams (about 493 million euros).
With this alliance, both companies will unite synergies to grow in the fashion market, which is estimated to move 1.3 billion euros worldwide, but that is highly competitive and diverse.
Photo: Tendam.
