Latest news with #Tendam
Zawya
a day ago
- Business
- Zawya
Video Archives July 30, 2025 MENA private equity deals fall 38% in H1 as risk aversion weighs Risk aversion impacted MENA private equity deals
Videos VIDEO ARCHIVES Video Archives UAE and Saudi Arabia cement Gulf's dominance in Global ESG sukuk market in H1 Video Archives UAE's Multiply Group acquires 67% stake in Spain's Tendam for $1.5bln Video Archives Islamic investment deals in UAE hit $1.53bln This makes the emirates one of the world's top destinations for investors seeking to align with the principles of Islam Video Archives Proceeds from GCC IPOs decline 6% in H1 2025 to $3.4bln Despite economic uncertainty, the GCC still managed to outpace last year's offerings with 24 listings in 2025, compared to the 23 recorded in H1 2024 Video Archives M&A deals in MENA jump 149% in H1 2025 This is a 149% increase compared to the same period last year Video Archives GCC stocks rally in June on easing Middle East tensions The S&P GCC Composite Index posted a 3% gain during the month, led by equities in Kuwait and Dubai. Video Archives Saudi Arabia's CMA approves three IPOs Property developer AlRamz Real Estate Company will float 12,857,143 shares, representing 30% of its share capital. Video Archives Fitch affirms UAE's AA- rating; expects conflict to be short-lived The long-term foreign-currency issuer default rating (IDR) with a stable outlook mainly benefits from the UAE capital's substantial sovereign net foreign assets, which were estimated to be 157% of the country's gross domestic product (GDP) last year. Video Archives UAE, Saudi Arabia to see higher economic growth 'The UAE's economy is set to maintain its strong growth momentum, driven by rising oil output and robust activity in the non-oil sector, which is being supported by a loose fiscal stance' James Swanston, MENA economist at Capital Economics.
Arabian Post
7 days ago
- Business
- Arabian Post
Multiply Group Completes Major Stake Purchase in Tendam
Abu Dhabi-based Multiply Group has concluded the acquisition of a 67.91% majority stake in Spanish fashion retailer Tendam, valued at AED 5.6 billion. This move marks a significant leap into the European retail market for the UAE-listed conglomerate, solidifying its position in the global apparel industry. The deal with Tendam, which operates several prominent fashion brands including Cortefiel, Pedro del Hierro, and Springfield, will elevate Multiply Group's international presence. Tendam is an established player in the omnichannel retail space, combining physical stores with an increasingly sophisticated digital sales infrastructure, which positions the company as a strong contender in the fast-evolving European fashion market. Multiply Group's entry into this space is seen as part of a broader strategy to diversify its portfolio and tap into lucrative international markets. Samia Bouazza, the Group CEO and Managing Director of Multiply Group, highlighted the strategic nature of the acquisition. She noted that by securing control over a leading omnichannel business, Multiply is embracing a forward-thinking business model that is not only resilient but also adaptable to changing market conditions. ADVERTISEMENT The acquisition comes at a time when global retail trends are shifting towards an integrated, omnichannel approach, allowing companies to reach consumers across both physical and digital platforms. Tendam's long-standing expertise in this area makes the company an attractive investment for Multiply Group as it seeks to expand its footprint in Europe. Analysts suggest that the acquisition will bolster Multiply's operational EBITDA, driving growth in the firm's retail segment. Multiply Group, which has made waves in sectors ranging from technology to entertainment, views the purchase as a step towards achieving its long-term growth objectives. The acquisition is expected to provide significant synergies across Multiply's existing portfolio, with the potential to scale Tendam's brands across different European regions and beyond. The move also indicates Multiply Group's growing focus on consumer-facing businesses, which is a departure from its traditional concentration on investments in industrial and commercial sectors. By diversifying into the fashion industry, the group is positioning itself to benefit from the continued shift in consumer behaviour, where e-commerce and digital sales channels are becoming dominant drivers of growth. Industry experts believe the timing of the acquisition is particularly strategic. With the fashion industry adapting to evolving consumer preferences—especially in terms of sustainability and technological integration—the future of retail is poised for transformation. Tendam's strong digital presence, combined with its established retail stores, provides a balanced model that can better withstand economic fluctuations, making it an attractive proposition for investors. The deal strengthens Multiply Group's ties to the European market, offering more opportunities to collaborate with local businesses and expand its network of strategic partnerships. The UAE's growing influence in global investment circles, particularly in retail and fashion, is highlighted by this acquisition, which is expected to attract additional attention from global investors looking to enter the region.
Fashion Network
24-07-2025
- Business
- Fashion Network
Tendam begins a "new era" with Multiply Group, projects double-digit growth over next five years
"This year we should have growth more in line with previous years, while the acceleration would be from 2026 and the average of the plan is in double digits," said Miquel. Entering into a new era, the fashion group expects to register "exponential growth" for its brands and will develop them by launching at new locations, including internationally. In addition, Tendam's CEO announced that the conglomerate is working on "an agenda of acquisitions," as well as investments in digital and artificial intelligence (AI). "There is significant potential for growth; if I look at the future of the group, 55% will be organic and 45% will come from geographic expansion, acquisitions, and digitalisation," said Miquel. In this new phase, Tendam plans to boost the internationalisation of the 12 brands it currently owns. "We see that there is international appetite," said Miquel. "The Middle East and the Gulf countries are going to be a growth priority to exploit the potential of our brands, but Mexico [also] continues to be a priority, where we have double-digit growth." Miquel also noted that the goal is for each brand to have physical stores and to internationalise. In addition, the owner of Cortefiel, Hoss Intropia, and Pedro del Hierro is analysing purchases to continue growing and expanding its portfolio. This includes other proposals that are not limited to men's and women's fashion or intimate apparel, such as footwear, sneakers, and accessories. "They have to be companies that are not good, but very good, that add quality in terms of management, brands, and profitability. We are evaluating what seems most appropriate to generate a future of sustainable growth," said Miquel, who anticipates "there should be movement" in this area in the next 24-36 months. As to whether the business is considering acquiring any fast fashion brands, the executive acknowledged that the team is looking for "good companies that add value to the business model," while remaining committed to "strengthening" the brands already created and are considering whether to launch new brands on the market. "We will evaluate what generates a greater opportunity for us; whether to accelerate acquisitions or to create new brands. We are open to both alternatives," said Miquel. Multiply Group sees "a lot of potential" in Tendam Multiply Group president and CEO, Samia Bouazza, expressed she was "very happy" with the holding company's entry into the textile group. "We see a lot of potential in Tendam. We want to grow in fashion, which can be complemented with additional acquisitions such as services, logistics or integrating other brands." The Middle Eastern investment holding company makes its debut in Spain with the acquisition of 67.9% of Tendam. The business already has operations in sectors such as energy, mobility, public services, media, and beauty. Specifically, the consolidation of this deal in Spain should enable the Middle Eastern holding company to double its gross operating profit (EBITDA) and amplify its investment model. Additionally, Bouazza made no secret of her desire for Tendam to expand its brands in Abu Dhabi. "We would love to, because there are customers who are asking us for it, and it will be a pleasure to bring in beautiful Spanish labels such as Pedro del Hierro and Cortefiel," said Bouazza. Regarding the shareholding situation of the textile group, where Multiply Group operates as the majority shareholder, Bouazza pointed out that "it is not important" to increase the holding, as Multiply Group is the majority shareholder, while she stressed that the business will continue to work with CVC and PAI, who, after this operation, remain as minority shareholders. Bouazza does not rule out further investments in Spain On the other hand, the CEO of Multiply Group acknowledged that Spain is a good country to invest in. "Spain has all the ingredients at the macro level to consider it a good environment for investment. Our long-term objective is to support Tendam's growth, but if there are synergies with ancillary services and new brands, we are here to give that support and we would do it in Spain," said Bouazza. "If a good opportunity comes along that fits our criteria, we will act. We are looking for scalable investments that can be expanded around the world," said Bouazza, regarding the possibility of making further investments in the Spanish market.
Fashion Network
24-07-2025
- Business
- Fashion Network
Tendam begins a "new era" with Multiply Group, projects double-digit growth over next five years
"This year we should have growth more in line with previous years, while the acceleration would be from 2026 and the average of the plan is in double digits," said Miquel. Entering into a new era, the fashion group expects to register "exponential growth" for its brands and will develop them by launching at new locations, including internationally. In addition, Tendam's CEO announced that the conglomerate is working on "an agenda of acquisitions," as well as investments in digital and artificial intelligence (AI). "There is significant potential for growth; if I look at the future of the group, 55% will be organic and 45% will come from geographic expansion, acquisitions, and digitalisation," said Miquel. In this new phase, Tendam plans to boost the internationalisation of the 12 brands it currently owns. "We see that there is international appetite," said Miquel. "The Middle East and the Gulf countries are going to be a growth priority to exploit the potential of our brands, but Mexico [also] continues to be a priority, where we have double-digit growth." Miquel also noted that the goal is for each brand to have physical stores and to internationalise. In addition, the owner of Cortefiel, Hoss Intropia, and Pedro del Hierro is analysing purchases to continue growing and expanding its portfolio. This includes other proposals that are not limited to men's and women's fashion or intimate apparel, such as footwear, sneakers, and accessories. "They have to be companies that are not good, but very good, that add quality in terms of management, brands, and profitability. We are evaluating what seems most appropriate to generate a future of sustainable growth," said Miquel, who anticipates "there should be movement" in this area in the next 24-36 months. As to whether the business is considering acquiring any fast fashion brands, the executive acknowledged that the team is looking for "good companies that add value to the business model," while remaining committed to "strengthening" the brands already created and are considering whether to launch new brands on the market. "We will evaluate what generates a greater opportunity for us; whether to accelerate acquisitions or to create new brands. We are open to both alternatives," said Miquel. Multiply Group sees "a lot of potential" in Tendam Multiply Group president and CEO, Samia Bouazza, expressed she was "very happy" with the holding company's entry into the textile group. "We see a lot of potential in Tendam. We want to grow in fashion, which can be complemented with additional acquisitions such as services, logistics or integrating other brands." The Middle Eastern investment holding company makes its debut in Spain with the acquisition of 67.9% of Tendam. The business already has operations in sectors such as energy, mobility, public services, media, and beauty. Specifically, the consolidation of this deal in Spain should enable the Middle Eastern holding company to double its gross operating profit (EBITDA) and amplify its investment model. Additionally, Bouazza made no secret of her desire for Tendam to expand its brands in Abu Dhabi. "We would love to, because there are customers who are asking us for it, and it will be a pleasure to bring in beautiful Spanish labels such as Pedro del Hierro and Cortefiel," said Bouazza. Regarding the shareholding situation of the textile group, where Multiply Group operates as the majority shareholder, Bouazza pointed out that "it is not important" to increase the holding, as Multiply Group is the majority shareholder, while she stressed that the business will continue to work with CVC and PAI, who, after this operation, remain as minority shareholders. Bouazza does not rule out further investments in Spain On the other hand, the CEO of Multiply Group acknowledged that Spain is a good country to invest in. "Spain has all the ingredients at the macro level to consider it a good environment for investment. Our long-term objective is to support Tendam's growth, but if there are synergies with ancillary services and new brands, we are here to give that support and we would do it in Spain," said Bouazza. "If a good opportunity comes along that fits our criteria, we will act. We are looking for scalable investments that can be expanded around the world," said Bouazza, regarding the possibility of making further investments in the Spanish market.
Fashion Network
24-07-2025
- Business
- Fashion Network
Tendam begins a "new era" with Multiply Group, projects double-digit growth over next five years
"This year we should have growth more in line with previous years, while the acceleration would be from 2026 and the average of the plan is in double digits," said Miquel. Entering into a new era, the fashion group expects to register "exponential growth" for its brands and will develop them by launching at new locations, including internationally. In addition, Tendam's CEO announced that the conglomerate is working on "an agenda of acquisitions," as well as investments in digital and artificial intelligence (AI). "There is significant potential for growth; if I look at the future of the group, 55% will be organic and 45% will come from geographic expansion, acquisitions, and digitalisation," said Miquel. In this new phase, Tendam plans to boost the internationalisation of the 12 brands it currently owns. "We see that there is international appetite," said Miquel. "The Middle East and the Gulf countries are going to be a growth priority to exploit the potential of our brands, but Mexico [also] continues to be a priority, where we have double-digit growth." Miquel also noted that the goal is for each brand to have physical stores and to internationalise. In addition, the owner of Cortefiel, Hoss Intropia, and Pedro del Hierro is analysing purchases to continue growing and expanding its portfolio. This includes other proposals that are not limited to men's and women's fashion or intimate apparel, such as footwear, sneakers, and accessories. "They have to be companies that are not good, but very good, that add quality in terms of management, brands, and profitability. We are evaluating what seems most appropriate to generate a future of sustainable growth," said Miquel, who anticipates "there should be movement" in this area in the next 24-36 months. As to whether the business is considering acquiring any fast fashion brands, the executive acknowledged that the team is looking for "good companies that add value to the business model," while remaining committed to "strengthening" the brands already created and are considering whether to launch new brands on the market. "We will evaluate what generates a greater opportunity for us; whether to accelerate acquisitions or to create new brands. We are open to both alternatives," said Miquel. Multiply Group sees "a lot of potential" in Tendam Multiply Group president and CEO, Samia Bouazza, expressed she was "very happy" with the holding company's entry into the textile group. "We see a lot of potential in Tendam. We want to grow in fashion, which can be complemented with additional acquisitions such as services, logistics or integrating other brands." The Middle Eastern investment holding company makes its debut in Spain with the acquisition of 67.9% of Tendam. The business already has operations in sectors such as energy, mobility, public services, media, and beauty. Specifically, the consolidation of this deal in Spain should enable the Middle Eastern holding company to double its gross operating profit (EBITDA) and amplify its investment model. Additionally, Bouazza made no secret of her desire for Tendam to expand its brands in Abu Dhabi. "We would love to, because there are customers who are asking us for it, and it will be a pleasure to bring in beautiful Spanish labels such as Pedro del Hierro and Cortefiel," said Bouazza. Regarding the shareholding situation of the textile group, where Multiply Group operates as the majority shareholder, Bouazza pointed out that "it is not important" to increase the holding, as Multiply Group is the majority shareholder, while she stressed that the business will continue to work with CVC and PAI, who, after this operation, remain as minority shareholders. Bouazza does not rule out further investments in Spain On the other hand, the CEO of Multiply Group acknowledged that Spain is a good country to invest in. "Spain has all the ingredients at the macro level to consider it a good environment for investment. Our long-term objective is to support Tendam's growth, but if there are synergies with ancillary services and new brands, we are here to give that support and we would do it in Spain," said Bouazza. "If a good opportunity comes along that fits our criteria, we will act. We are looking for scalable investments that can be expanded around the world," said Bouazza, regarding the possibility of making further investments in the Spanish market.
