Latest news with #JaumeMiquel
Fashion United
6 days ago
- Business
- Fashion United
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 Multiply Group's 67.91 percent stake valued at approximately 880 million euros. This acquisition positions Tendam as the anchor platform for Multiply Group's new investment vertical in fashion and retail. The acquisition of Tendam's business in Bosnia and Herzegovina is pending approval from competition authorities. Strategic vision and growth initiatives Multiply Group aims to accelerate Tendam's international expansion, particularly in Europe, Latin America, and the Middle East. The strategy includes integrating artificial intelligence (AI) across all business operations, from sourcing to customer interactions, to enhance growth and leverage Tendam's existing digital infrastructure. Samia Bouazza, CEO and managing director of Multiply Group, stated that the acquisition is a strategic entry into the retail and fashion sector, investing in a "future-oriented and highly profitable business model". She emphasized leveraging Multiply Group's expertise in "synergy creation, artificial intelligence implementation, and strategic mergers and acquisitions" to accelerate growth and generate long-term value. Jaume Miquel, chairman and CEO of Tendam, indicated that this acquisition marks a new era for the company, focusing on expanding brands into new formats, markets, and channels with advanced AI and digital technology to drive growth and profitability through an omnichannel fashion brand ecosystem. Financial performance and future outlook For the 12 months ending 30 June 2025, Tendam reported total sales of approximately 1.4 billion euros and an EBITDA of 341 million euros. Multiply Group and Tendam plan to outline an "aggressive" five-year strategic roadmap in the coming months, targeting double-digit sales growth from 2026. This growth is expected to be driven by expanding Tendam's 12 current brands, developing proprietary store networks in Spain and internationally (with a focus on Mexico and the Persian Gulf), and pursuing new acquisitions. Acquisitions are projected to account for approximately 45 percent of Tendam's revenue growth in the coming years, with the remaining 55 percent from organic growth. Tendam is open to acquiring companies that offer diversification (e.g., sports, footwear, accessories), market penetration, or internationalization opportunities. Tendam's current portfolio includes 12 brands: Cortefiel, Pedro del Hierro, Women'secret, Springfield, Hoss Intropia, Slowlove, High Spirits, Dash and Stars, OOTO, Hi&Bye, Milano, and Fifty. Multiply Group's investment strategy Multiply Group views Tendam as its first major investment in Europe and estimates it will double its operating EBITDA. The investment holding company plans further investments in Spain and Europe, focusing on acquiring strategic companies and injecting capital and technology to boost their market leadership. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Barnama
6 days ago
- Business
- Barnama
Multiply Group Makes Bold Leap Into Europe With 1.3 Bln Euros Acquisition Of Spain's Tendam
BUSINESS KUALA LUMPUR, July 24 (Bernama) -- In a landmark European entry, Abu Dhabi's Multiply Group has acquired a 67.91 per cent majority stake in Tendam, Spain's second-largest apparel company, in a transaction valued at 5.6 billion UAE dirhams (1.3 billion euros) enterprise value. (1 Euro = RM4.95) According to Multiply in a statement, the deal cements the group's position as a rising force in the global Retail & Apparel space and doubles its operational earnings before interest, taxes, depreciation, and amortisation (EBITDA) post-consolidation. Multiply now has a majority interest in Castellano Investments S.À R.L. (the owner of Tendam Brands S.A.U. and other subsidiaries), with Llano Holdings S.À R.L. and Arcadian Investments S.À R.L., the corporate investment vehicles for CVC Funds and PAI Partners, remaining as minority shareholders. Multiply Group Chief Executive Officer (CEO) and Managing Director, Samia Bouazza called the deal a "strategic entry" into a high-performing sector, noting the platform's potential to scale globally through technology, brand agility, and Multiply's expertise in value creation. Meanwhile, Tendam Chairman and CEO, Jaume Miquel echoed the optimism, hailing the start of a 'new era' that will unlock greater brand potential and profitability through digital innovation. The investment positions Tendam as the cornerstone of Multiply Group's new Retail & Apparel vertical, giving the group a strategic springboard for international expansion, especially across Europe, Latin America, and the Middle East. Multiply aims to embed artificial intelligence (AI) across Tendam's operations—from supply chain to customer experience—while exploring targeted mergers and acquisitions (M&A) to grow its brand universe. Tendam, an omnichannel retail powerhouse with over 1,800 outlets and digital reach across more than 80 markets, brings a diverse fashion portfolio including Women'secret, Springfield, Cortefiel, and Pedro del Hierro. Its market footprint spans Spain, Portugal, France, the United Arab Emirates (UAE), and Latin America. The transaction saw advice from top firms including Greenhill, Hogan Lovells, and KPMG for Multiply; Uria Menendez for Castellano; and Ramón Hermosilla Abogados and Latham & Watkins LLP for Tendam.
Fashion Network
6 days ago
- Business
- Fashion Network
Multiply Group completes acquisition of Tendam
Emirati investment firm Multiply Group has concluded its purchase of Spanish conglomerate Tendam, owner of fashion brands such as Women'secret, Springfield, Cortefiel, and Pedro del Hierro. The Abu Dhabi-based business has acquired 67.91% of the capital, in a deal that values Tendam at around 1.3 billion euros. The acquisition, announced in February, is notably "the first major investment" by the Emirati group in Europe. "Multiply now owns a 67.91% majority stake in Castellano Investments S.À R.L., owner of Tendam Brands S.A.U. and other subsidiaries, while Llano Holdings S.À R.L. and Arcadian Investments S.À R.L., the corporate investment vehicles of the CVC and PAI Partners funds, will remain as minority shareholders," announced the business. In the same statement, Multiply indicated that it will "lead the next phase of Tendam's growth". A phase that, according to the business, will be driven by further international expansion in Europe, Latin America, and the Middle East. Another key component will be the incorporation of artificial intelligence into all areas of the business, from procurement to customer experience, "leveraging the existing digital infrastructure". In addition to this, Multiply announced that it will support the business "with selective acquisitions (M&A)" to add new brands and categories to its offering. "This acquisition marks Multiply Group's strategic entry into the retail and fashion sector," said Multiply Group's CEO and managing director Samia Bouazza."By securing a controlling stake in a leading omni-channel platform, we are investing in a high-performing, future-focused business model backed by an exceptional management team. Based on strong, established proprietary brands, this model offers the agility and vision needed to expand into new categories and scale emerging brands globally. With our expertise in creating synergies, applying artificial intelligence, and strategically executing mergers and acquisitions, we are positioned to accelerate growth and generate long-term value for our shareholders". Jaume Miquel, chairman and CEO of the Spanish conglomerate, said: "Today we are entering a new era. Together, shareholders and management team, we will fully deploy Tendam's potential, expanding our brands into new formats, markets, and channels, supported by advanced artificial intelligence and digital technology to achieve stronger growth and profitability through a unique and unrivalled omni-channel ecosystem of brands." Formerly known as Grupo Cortefiel, Tendam includes a dozen retail brands in its portfolio: Women'secret, Springfield, Cortefiel, Pedro del Hierro, Hoss Intropia, Slowlove, High Spirits, Dash and Stars, OOTO, Milano, Fifty, and Hi&Bye. It operates more than 1,760 points of sale, including its own stores, points of sale in department stores, and franchises in more than 80 markets around the world. According to Multiply Group's press release, at the end of June 2025, the Spanish company reported sales of 1.4 billion euros over the last twelve months and EBITDA totalling 340.7 million euros. This article is an automatic translation. Click here to read the original article.
Fashion Network
6 days ago
- Business
- Fashion Network
Multiply Group completes acquisition of Tendam
"This acquisition marks Multiply Group's strategic entry into the retail and fashion sector," said Multiply Group's CEO and managing director Samia Bouazza."By securing a controlling stake in a leading omni-channel platform, we are investing in a high-performing, future-focused business model backed by an exceptional management team. Based on strong, established proprietary brands, this model offers the agility and vision needed to expand into new categories and scale emerging brands globally. With our expertise in creating synergies, applying artificial intelligence, and strategically executing mergers and acquisitions, we are positioned to accelerate growth and generate long-term value for our shareholders". Jaume Miquel, chairman and CEO of the Spanish conglomerate, said: "Today we are entering a new era. Together, shareholders and management team, we will fully deploy Tendam's potential, expanding our brands into new formats, markets, and channels, supported by advanced artificial intelligence and digital technology to achieve stronger growth and profitability through a unique and unrivalled omni-channel ecosystem of brands." Formerly known as Grupo Cortefiel, Tendam includes a dozen retail brands in its portfolio: Women'secret, Springfield, Cortefiel, Pedro del Hierro, Hoss Intropia, Slowlove, High Spirits, Dash and Stars, OOTO, Milano, Fifty, and Hi&Bye. It operates more than 1,760 points of sale, including its own stores, points of sale in department stores, and franchises in more than 80 markets around the world. According to Multiply Group's press release, at the end of June 2025, the Spanish company reported sales of 1.4 billion euros over the last twelve months and EBITDA totalling 340.7 million euros.
Fashion Network
6 days ago
- Business
- Fashion Network
Multiply Group completes acquisition of Tendam
Emirati investment firm Multiply Group has concluded its purchase of Spanish conglomerate Tendam, owner of fashion brands such as Women'secret, Springfield, Cortefiel, and Pedro del Hierro. The Abu Dhabi-based business has acquired 67.91% of the capital, in a deal that values Tendam at around 1.3 billion euros. The acquisition, announced in February, is notably "the first major investment" by the Emirati group in Europe. "Multiply now owns a 67.91% majority stake in Castellano Investments S.À R.L., owner of Tendam Brands S.A.U. and other subsidiaries, while Llano Holdings S.À R.L. and Arcadian Investments S.À R.L., the corporate investment vehicles of the CVC and PAI Partners funds, will remain as minority shareholders," announced the business. In the same statement, Multiply indicated that it will "lead the next phase of Tendam's growth". A phase that, according to the business, will be driven by further international expansion in Europe, Latin America, and the Middle East. Another key component will be the incorporation of artificial intelligence into all areas of the business, from procurement to customer experience, "leveraging the existing digital infrastructure". In addition to this, Multiply announced that it will support the business "with selective acquisitions (M&A)" to add new brands and categories to its offering. "This acquisition marks Multiply Group's strategic entry into the retail and fashion sector," said Multiply Group's CEO and managing director Samia Bouazza."By securing a controlling stake in a leading omni-channel platform, we are investing in a high-performing, future-focused business model backed by an exceptional management team. Based on strong, established proprietary brands, this model offers the agility and vision needed to expand into new categories and scale emerging brands globally. With our expertise in creating synergies, applying artificial intelligence, and strategically executing mergers and acquisitions, we are positioned to accelerate growth and generate long-term value for our shareholders". Jaume Miquel, chairman and CEO of the Spanish conglomerate, said: "Today we are entering a new era. Together, shareholders and management team, we will fully deploy Tendam's potential, expanding our brands into new formats, markets, and channels, supported by advanced artificial intelligence and digital technology to achieve stronger growth and profitability through a unique and unrivalled omni-channel ecosystem of brands." Formerly known as Grupo Cortefiel, Tendam includes a dozen retail brands in its portfolio: Women'secret, Springfield, Cortefiel, Pedro del Hierro, Hoss Intropia, Slowlove, High Spirits, Dash and Stars, OOTO, Milano, Fifty, and Hi&Bye. It operates more than 1,760 points of sale, including its own stores, points of sale in department stores, and franchises in more than 80 markets around the world. According to Multiply Group's press release, at the end of June 2025, the Spanish company reported sales of 1.4 billion euros over the last twelve months and EBITDA totalling 340.7 million euros.
