Tendam news and archive

Multiply approves integration of Two Point Zero and Ghitha, boosts valuation to 28 billion euros

Madrid – Following the news reported by FashionUnited last week, an extraordinary General Shareholders' Meeting for Multiply Group, the parent company of Tendam, was held this Monday at its Abu Dhabi headquarters. The meeting was convened to address the complex financial transaction for the integration, via acquisition, of two Emirati companies...

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Tendam reports losses of five million euros after Multiply's entry

Spanish fashion multinational Tendam, owner of Cortefiel, Springfield, and Women'secret, experienced a negative profitability in the last two months of the third quarter of 2025, the first period in which its results were consolidated within the financial statements of its new parent company, Multiply Group. Revenues for Tendam rose by 7.5...

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Business|In-depth

A visit to Tendam's new Illescas logistics centre

At the invitation of Tendam and technology company Dematic, FashionUnited toured the new logistics centre that the Spanish fashion multinational has now brought to full capacity in the Toledo town of Illescas, Spain. This is a particularly strategic location, bordering Madrid, where the company has just established the new hub for its online...

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Multiply Group completes acquisition of Tendam, will drive growth using AI as a lever

Multiply Group, an investment holding company based in Abu Dhabi, completed the acquisition of a 67.91 percent stake in Tendam, a Spanish fashion multinational, on 23 July 2025. Tendam owns brands such as Cortefiel, Springfield, and Women’secret. The transaction values Tendam at approximately 1.3 billion euros (5.6 billion UAE dirhams), with...

Retail

Tendam partners with Shaws to bring Cortefiel to Ireland

With the foundations of its immediate future clarified following the arrival of Emirati firm Multiply Group as the company’s new majority shareholder, Spanish group Tendam has continued to advance its international expansion plan, this time with its flagship brand, Cortefiel. The brand formalised a partnership with Shaws Department Stores for...

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Tendam enters Turkey with Women’secret

Madrid – Women’secret, the lingerie brand from the Tendam Group, has entered a new market with the opening of its first store in Turkey. The chain has just launched with the opening of its first establishment in Istanbul, the country’s capital. With a retail space of approximately 100 square metres, which the chain will use to sell its latest...

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Business|In Depth

Multiply Group: Who is the new owner of Tendam, and how will it boost its value?

Madrid – The Spanish fashion scene, and potentially the international fashion scene, was shaken on February 25, 2025, following the unexpected announcement and official confirmation that Emirati company Multiply Group had become the new dominant shareholder in Tendam Group. The Spanish fashion multinational, which owns chains such as Cortefiel,...

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Abu Dhabi’s Multiply Group takes controlling stake in Tendam parent company

Abu Dhabi-based investment firm Multiply Group has acquired a controlling stake in Castellano Investments, the parent company of Spanish fashion giant Tendam Brands S.A.U and other subsidiaries. With its intention of securing a 67.91 percent holding, Multiply Group would become a majority shareholder of Castellano alongside Llano Holdings and...

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Severe weather in Spain: The fashion world offers help

Madrid - Inditex, H&M, Mango, Scalpers, Nude Project and many more fashion companies, both national and international, are expressing support and solidarity for the victims of last week's extreme weather in Spain. The storm devastated areas of Castilla-La Mancha and the southern part of metropolitan Valencia, where the clean-up continues as the...

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'Sustainability Lab': UDIT launches research and development project with Spanish fashion giant Tendam

Determined to support the transformation of fashion from the ground up, Spanish fashion group Tendam has announced the creation of its new Sustainability Lab, a research and development laboratory focused on sustainability, which in collaboration with UDIT University in Madrid and consultancy IDavinci aims to ‘redefine the future of fashion’...

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Hackers attack Spanish fashion multinational Tendam, demand 800,000 dollar ransom

A group of hackers has attacked the computer systems and databases of Spanish fashion giant Tendam, the parent company of chains such as Cortefiel, Pedro del Hierro, Springfield and Women'secret. The cybercriminals are now demanding 800,000 dollars to prevent them from leaking or selling the more than 720 gigabytes of confidential information...

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Tendam posts Q1 like-for-like sales growth of 6 percent

In the first quarter, Tendam posted total revenue of 253.8 million euros, up by 4.6 percent year-on-year. Like-for-like revenue increased by 6 percent versus the first quarter of FY2023. Recurring EBITDA for the quarter was 57.1 million euros, up by 10 percent. Commenting on the trading results, Jaume Miquel, chairman of the board of directors...