Tendam, a well-known fashion group in Spain, is stepping into what it calls a “new era” with the backing of Multiply Group, a holding company based in Abu Dhabi. This partnership marks a significant shift for Tendam, which encompasses popular brands like Women’secret, Springfield, Cortefiel, Pedro del Hierro, Hoss Intropia, and Slowlove. With this new alignment, Tendam’s leaders anticipate a hopeful landscape of double-digit growth over the next five years as they seek to expand their global footprint.
Jaume Miquel, the president and CEO of Tendam, expressed optimism about the future, stating, “We are starting a new era, opening an important stage. This allows us to lay down a long-term strategy that can provide the stability everyone involved needs, paving the way for accelerated growth.” This optimistic outlook comes just after the finalization of Multiply Group’s acquisition, solidifying their stake in Tendam.
Currently, Tendam is working on a business plan that outlines ambitious growth targets. Although 2025 is anticipated to be a “transition year,” Miquel assured stakeholders that they should expect growth that aligns with previous years, with a significant ramp-up set for 2026 and beyond. He remarked, “This year, we should see growth consistent with what’s happened in the past, but acceleration will begin from 2026 onward, averaging in double digits.”
One of the exciting aspects of this partnership is the potential for exponential growth in Tendam’s brands. Expansion plans include not only launching into new international markets but also exploring acquisition opportunities and investing in digital technologies, including artificial intelligence. “There’s a significant opportunity here; looking forward, we anticipate that 55% of our growth will be organic while 45% will come from geographic expansion, acquisitions, and digital initiatives,” Miquel elaborated.
In line with this vision, Tendam aims to enhance the international presence of its 12 brands. Miquel noted, “We’re observing a strong interest globally, particularly in the Middle East and Gulf regions, which we see as critical for our growth. Mexico is also a key market where we’re experiencing notable double-digit growth.” The strategy aims to ensure that each brand establishes a physical presence internationally.
In addition to bolstering its brand portfolio, Tendam is exploring further acquisitions targeted at enhancing its collection beyond just fashion. This could include opportunities in footwear, sneakers, and accessories. “We’re looking for acquisitions that add substantial quality in terms of management, branding, and profitability,” Miquel stated, emphasizing a commitment to sustainable growth. He anticipates that significant developments in this area could unfold within the next two to three years.
When asked about the possibility of acquiring fast fashion brands, Miquel conveyed caution but openness, indicating that the focus remains on elevating the current brands while exploring new ones. “We’re committed to strengthening our existing brands, but we’re also weighing our options. If new brands present a fruitful opportunity, we’re open to both accelerating acquisitions and launching new ones.”
Expressing similar enthusiasm, Samia Bouazza, president and CEO of Multiply Group, shared her excitement about being involved with Tendam. “We see tremendous potential in Tendam,” she said. “Our vision is to not only grow within fashion but also potentially enrich our portfolio with acquisitions related to services, logistics, and even integrating other brands.”
This acquisition also marks Multiply Group’s first major investment in Spain, securing a 67.9% ownership stake in Tendam. Bouazza highlighted the advantages this brings, stating that it will allow Multiply Group to enhance its investment model and broaden its reach in Spain, which already includes interests in various sectors like energy and media.
As for the future, Bouazza clearly sees a strong alignment of the company goals with Tendam and is eager for further expansion. “Spain is ripe for investment,” she remarked, highlighting its favorable macroeconomic environment. “Our long-term objective is not just to support Tendam’s growth but to identify additional opportunities in related services and brands. If something truly fitting arises, we’re ready to act, especially if it’s scalable on a global level.”
This phase of growth for Tendam and Multiply Group represents not just a familiar story of business expansion, but a powerful narrative of collaboration and forward-thinking in a rapidly evolving global market. The excitement surrounding this partnership resonates with anyone passionate about fashion and business, as both companies strive to make their mark on an already bustling industry.
Image Source: Tendam.es
