New owners push Tendam (Cortefiel) into “aggressive growth strategy”

Spanish fashion group Tendam, which owns brands such as Cortefiel and Springfield, is shifting into a higher gear following its acquisition by Multiply Group. The investment fund from Abu Dhabi is backing an “aggressive growth strategy.”

55 % organic, 45 % investment

Tendam aims to double in size by 2030, through acquisitions, digitisation and international expansion. Starting next year, the fashion group expects to grow at double-digit rates, but “2025 will be a transition year”, CEO Jaume Miquel told trade magazine Modaes. The first acquisitions are expected within two years.