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Fashion Network
9 hours ago
- Business
- Fashion Network
Cortefiel expands into Ireland with 10 new points of sale
Home › News › Retail Translated by Roberta HERRERA Download Print Translated by Roberta HERRERA The Tendam-owned brand has officially entered the Irish market as part of its broader international expansion strategy. Cortefiel has launched 10 retail corners inside Shaws department stores, each designed under its latest store concept. The brand makes its debut in Ireland with 10 points of sale, showcasing its latest spring/summer collections. - Ig: @cortefiel_official Dubbed 'Loft,' the brand's updated retail aesthetic embraces a minimalist and open layout, incorporating natural materials such as stone finishes and wooden furnishings. Each new point of sale will feature the full Spring/Summer collection from Cortefiel's womenswear line. The brand now has a presence in Athlone, Ballina, Carlow, Castlebar, Fermoy, Limerick, Portlaoise, Tralee, Waterford and Wexford, covering a combined footprint of 600 square meters. With its arrival in Ireland, Cortefiel bolsters Tendam's growing footprint in the country. The group currently operates 32 locations in the Irish market, including 15 stores under the Springfield banner and seven locations of lingerie brand Women'secret. All three brands are also distributed locally through Tendam's e-commerce platform. Founded in 1945, Cortefiel was the inaugural brand launched by the Tendam Group—formerly known as Grupo Cortefiel—which also owns Women'secret, Springfield, Pedro del Hierro, Hoss Intropia, Slowlove, High Spirits, Dash and Stars, OOTO, Milano, Fifty and Hi&Bye. Today, the brand maintains a presence in 46 countries, operating a commercial network of more than 256 points of sale. Today, the group oversees more than 1,760 points of sale—including owned stores, franchises and department store concessions—across more than 80 global markets. Its digital presence extends to over 33 branded websites. On the financial front, Tendam reported revenues of €253.8 million in the first quarter of its 2024 fiscal year, marking a 4.6% year-over-year increase. Among the company's latest strategic developments is the acquisition of a 67.91% stake by Multiply Group, the investment arm of the Abu Dhabi royal family. news_translation_auto Click here to read the original article. Copyright © 2025 All rights reserved. Tags : Fashion Ready-to-wear Fashion Retail
Fashion Network
9 hours ago
- Business
- Fashion Network
Cortefiel expands into Ireland with 10 new points of sale
The Tendam-owned brand has officially entered the Irish market as part of its broader international expansion strategy. Cortefiel has launched 10 retail corners inside Shaws department stores, each designed under its latest store concept. Dubbed 'Loft,' the brand's updated retail aesthetic embraces a minimalist and open layout, incorporating natural materials such as stone finishes and wooden furnishings. Each new point of sale will feature the full Spring/Summer collection from Cortefiel's womenswear line. The brand now has a presence in Athlone, Ballina, Carlow, Castlebar, Fermoy, Limerick, Portlaoise, Tralee, Waterford and Wexford, covering a combined footprint of 600 square meters. With its arrival in Ireland, Cortefiel bolsters Tendam's growing footprint in the country. The group currently operates 32 locations in the Irish market, including 15 stores under the Springfield banner and seven locations of lingerie brand Women'secret. All three brands are also distributed locally through Tendam's e-commerce platform. Founded in 1945, Cortefiel was the inaugural brand launched by the Tendam Group—formerly known as Grupo Cortefiel—which also owns Women'secret, Springfield, Pedro del Hierro, Hoss Intropia, Slowlove, High Spirits, Dash and Stars, OOTO, Milano, Fifty and Hi&Bye. Today, the brand maintains a presence in 46 countries, operating a commercial network of more than 256 points of sale. Today, the group oversees more than 1,760 points of sale—including owned stores, franchises and department store concessions—across more than 80 global markets. Its digital presence extends to over 33 branded websites. On the financial front, Tendam reported revenues of €253.8 million in the first quarter of its 2024 fiscal year, marking a 4.6% year-over-year increase. Among the company's latest strategic developments is the acquisition of a 67.91% stake by Multiply Group, the investment arm of the Abu Dhabi royal family.
Fashion United
4 days ago
- Business
- Fashion United
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 its entry into Ireland. Under the terms of the partnership, Cortefiel launched ten points of sale within selected Shaws Department Stores located across sixteen Irish cities. These openings marked Cortefiel's debut in the Irish market, with the ten points of sale situated in Shaws shopping centres in Athlone, Ballina, Carlow, Castlebar, Fermoy, Limerick, Portlaoise, Tralee, Waterford, and Wexford. Collectively, these points of sale cover more than 600 square metres, all dedicated to Tendam Group's flagship brand's womenswear offering. Cortefiel has begun marketing its latest women's Spring/Summer 2025 (SS25) collections in the country. Notably, Cortefiel's entry into Ireland in partnership with Shaws did not follow the independent store model previously used by Cortefiel and other Tendam brands for international expansion. Instead, the company adopted a new 'corner' format. This point-of-sale model allows the brand to take a more dynamic and flexible approach to international growth. Presented as a new store concept called 'Loft,' rather than a one-off initiative, this format suggests plans for broader implementation in other markets. In Ireland, this corner model will drive the brand's physical retail presence, complemented by online sales through both Cortefiel's and Shaws' websites. In the context of this partnership with Shaws, 'the brand launched its new 'Loft' store concept in all Irish Cortefiel points of sale,' stated Tendam in a press release. Regarding this format, the company explained, 'the new 'Loft' visual store concept was designed to showcase the collections in their entirety and offer styling options through flexible furniture.' From an experiential standpoint, the model 'conveys a sense of spaciousness through the use of stone materials' and 'natural woods that add contrast to the minimalist lines of the overall design.' With this latest move, Cortefiel has added ten new points of sale in a corner format to the 246 it already operates across Asia, Africa, the Americas, and Europe. Tendam has thus strengthened its presence in the Anglo-Saxon market, particularly in Ireland, where the Spanish company now operates thirty-two points of sale: fifteen Springfield stores, seven Women'secret stores, and ten Cortefiel corners within Shaws' shopping centres. These physical operations are complemented by online sales from each of Tendam's brands. 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@
Zawya
26-02-2025
- Business
- Zawya
Multiply Group signs landmark investment with CVC and PAI Partners
Multiply Group establishes new Retail and Apparel Vertical with Tendam as its anchor business, further deepening the Group's presence in consumer-focused industries. Tendam is Spain's second-largest apparel group by market share and one of Europe's leading omnichannel apparel groups, operating 1,800 points of sale in more than 80 markets including Spain, Portugal, France, UAE and Latin America and brands such as Women'secret, Springfield and Cortefiel. This majority stake in Tendam is the latest vertical building investment activity by Multiply Group, having recently deployed approximately AED 1 billion to acquire BackLite Media, Excellence Premier Investment, and The Grooming Company Holding. Abu Dhabi, United Arab Emirates: Multiply Group PJSC (ADX: MULTIPLY), the Abu Dhabi-based investment holding company that invests in and operates businesses globally through four sectors, Mobility, Media and Communications, Energy and Utilities, and Beauty and Wellness, subject to successful receipt of all regulatory approvals, has agreed to invest via a capital increase that will secure a controlling stake of 67.91% in Castellano Investments S.À R.L. ('Company') (the owner of Tendam Brands S.A.U and other subsidiaries), becoming the majority shareholder in the Company alongside Llano Holdings S.À R.L. and Arcadian Investments S.À R.L., the corporate investment vehicles for CVC Funds and PAI Partners respectively, who will remain minority shareholders in the Company. Tendam is Spain's second-largest apparel group by market share and one of Europe's leading omnichannel apparel groups. Multiply Group will lead the next phase of growth for Tendam, geared towards further international expansion and development of the group's omnichannel ecosystem. The transaction is subject to approval by the pertinent regulatory authorities. With this investment, Multiply Group has established its presence in the retail and apparel sector, with Tendam serving as the anchor for the new vertical. The deal marks Multiply Group's first major investment into Europe, representing significant geographical growth and further deepening its presence in consumer-focused businesses. Since 2020, Tendam has delivered consistent growth quarter after quarter, consolidating its business model in key markets and growing its international footprint. At the end of January 2025, Tendam's total sales for the last twelve months (LTM) stood at c. €1.4 billion, with EBITDA post IFRS-16 of €341 million. Samia Bouazza, Group CEO and Managing Director of Multiply Group, said: 'The majority stake in Tendam achieves three strategic goals for Multiply Group: It enables us to push forward with our commitment to create double-digit EBITDA growth. It marks our first entry into the retail and apparel sector we have been targeting and believe has significant growth potential. And finally, the acquisition is a tangible step in our global expansion efforts, which strategically positions the Group to continue building on its international portfolio in years to come.' Tendam has become a pioneer in the omnichannel apparel retail sector, present at over 1,800 points of sale in nearly 80 countries on four continents. It features twelve own brands that are primarily positioned in the premium mass market segment (Women'secret, Springfield, Cortefiel, Pedro del Hierro, Hoss Intropia, Slowlove, High Spirits, Dash and Stars, OOTO, HI&BYE, Milano, and children's clothing line Springfield Kids), as well as almost 200 third-party brands, well-established loyalty clubs, market-leading technological capabilities, an extensive network of more than 1,800 points of sale (including directly-operated stores, corners and franchises) and online. From a strategic perspective, the acquisition presents a significant opportunity for Multiply Group to build on Tendam's platform of brands and strong performance to propel future growth by having access to the €1.3 trillion global apparel retail market. The move follows a series of recent acquisitions and vertical-building activities by Multiply Group where it has successfully acquired controlling stakes in Excellence Premier Investment, Media 247, BackLite Media, and The Grooming Company Holding and has overachieved its year of efficiency targets for 2024. Jaume Miquel, Chairman and CEO of Tendam, highlighted: 'Since implementing the Tendam 5.0 strategy, Tendam has demonstrated exceptional growth, underpinned by the creation of a unique, unrivalled omnichannel ecosystem. The investment by Multiply Group is an endorsement of that strategy and affords increased capacity for accelerated growth. Likewise, CVC Funds and PAI, through Llano and Arcadian, offer continuity and a strong, in-depth understanding of the company. All of our investors, in partnership with a committed management team, are the best possible guarantee of continuing growth and success.' Caroline Goergen, Director at Llano Holdings S.à r.l., said: 'We are very excited to partner with Multiply Group and continue supporting Tendam in this new phase of growth. We are very grateful to Tendam's management team, who have created a unique ecosystem of brands and significantly outperformed the market. We remain enthusiastic about Tendam's growth prospects and our continued investment.' Laura Muries, Partner & Head of Spain for PAI's Flagship Fund, said: 'Since our investment in 2017, the partnership with Tendam has been a successful transformation journey, driven by an exceptional team. Today, Tendam is a leading and highly profitable omnichannel company, with unique access to 24 million customers and consistent above-market growth. We are very happy to continue supporting the company in further developing this new strategy internationally.' Multiply Group has been advised by Greenhill (a Mizuho affiliate), Hogan Lovells and KPMG on the transaction. Castellano and its current shareholders have been advised by Uria Menendez. Ramón Hermosilla Abogados and Latham & Watkins LLP have been also legal advisors in this transaction. Multiply Group achieved strong performance in 2024 across key metrics, which was reinforced by its market-leading position across the mobility, media, and beauty sectors. The Group's revenue surged 56% year-on-year, exceeding the AED 2 billion mark, and was propelled by double-digit organic growth across all verticals, resulting in Group EBITDA growth of 15% reaching AED 1.9 billion. *Source: AETOSWire CONTACTS: For further information, please contact: Wassim El Jurdi Multiply Group M: +971 56 105 9595 E: wassim@
Gulf Business
26-02-2025
- Business
- Gulf Business
Multiply Group to secure majority stake in apparel giant, Tendam
Image: Multiply Group Multiply Group, the Abu Dhabi-based investment holding company, has reached an agreement to acquire a controlling 67.91 per cent stake in Castellano Investments, the parent company of Tendam Brands, subject to regulatory approval. The deal will make Multiply Group the majority shareholder in Tendam, alongside Llano Holdings and Arcadian Investments, corporate investment vehicles for CVC Funds and PAI Partners, who will remain minority shareholders. Tendam, Spain's second-largest apparel group by market share and a leading omnichannel apparel retailer in Europe, operates in nearly 80 countries across four continents with more than 1,800 points of sale. Multiply Group expands its presence in retail sector This investment marks a significant step for The company will now focus on the next phase of Tendam's growth, particularly international expansion and further strengthening its omnichannel business model. Samia Bouazza, group CEO and MD of Multiply Group, commented, 'The majority stake in Tendam achieves three strategic goals for Multiply Group: It enables us to push forward with our commitment to create double-digit EBITDA growth. It marks our first entry into the retail and apparel sector we have been targeting and believe has significant growth potential. And finally, the acquisition is a tangible step in our global expansion efforts, which strategically positions the group to continue building on its international portfolio in years to come.' — Multiply Group (@MultiplyGroupAE) Tendam brands and growth strategy As of January 2025, the company reported total sales of approximately EUR1.4bn and EBITDA of EUR341m, positioning itself as a leader in the omnichannel apparel space. Jaume Miquel, chairman and CEO of Tendam, expressed, ' Since implementing the Tendam 5.0 strategy, Tendam has demonstrated exceptional growth, underpinned by the creation of a unique, unrivalled omnichannel ecosystem. The investment by Multiply Group is an endorsement of that strategy and affords increased capacity for accelerated growth. Likewise, CVC Funds and PAI, through Llano and Arcadian, offer continuity and a strong, in-depth understanding of the company. All of our investors, in partnership with a committed management team, are the best possible guarantee of continuing growth and success.' Multiply Group's move into the retail sector complements its broader strategy of expanding into consumer-focused businesses, alongside recent acquisitions in media, entertainment, and other sectors. The transaction will also help the group tap into the EUR1.3tn global apparel retail market, providing significant growth opportunities. Caroline Goergen, director at Llano Holdings, said, 'We are very excited to partner with Multiply Group and continue supporting Tendam in this new phase of growth.' Laura Muries, partner and head of Spain for PAI's Flagship Fund, added, 'Since our investment in 2017, the partnership with Tendam has been a successful transformation journey, driven by an exceptional team. Today, Tendam is a leading and highly profitable omnichannel company, with unique access to 24 million customers and consistent above-market growth. We are very happy to continue supporting the company in further developing this new strategy internationally.' The acquisition of Tendam solidifies Multiply Group's growing portfolio of investments and marks a key milestone in its ongoing global expansion strategy. This majority stake in Tendam is the latest vertical building investment activity by Multiply Group, having recently deployed approximately AED 1 billion to acquire BackLite Media, Excellence Premier Investment, and The Grooming Company Holding. — Multiply Group (@MultiplyGroupAE)
