Jaume Miquel, the dynamic CEO and president of Tendam, a prominent fashion conglomerate featuring renowned brands like Cortefiel, Springfield, Pedro del Hierro, SlowLove, and Otto, recently shared insights into the company’s growth strategy and future plans. During a discussion at the ESADE Breakfasts, Miquel hinted at the possibility of a stock market debut, underlining Tendam’s confidence in its «appealing, sustainable, and profitable business model.»
Strategic Objectives and Growth Targets:
- Sustained Growth: Tendam aims for sustained and profitable growth in the range of 6% to 8%.
- Store Transformation: The company envisions turning physical stores into robust sales engines, especially for third-party brands.
- Membership Expansion: Tendam plans to expand its membership base and accelerate the growth of new brands.
- International Focus: While maintaining a stronghold in Spain, Portugal, and Mexico, Tendam explores international expansion, particularly in key markets.
Creating a Versatile Ecosystem: Tendam has evolved into a comprehensive ecosystem, hosting over 150 third-party brands strategically aligned for perfect complementarity. Miquel emphasized the creation of new brands as a pivotal step, contributing to niche markets and safeguarding profit margins. Physical stores, revamped as digital hubs, play a crucial role in this transformation, facilitating seamless sales and logistics.
Global Expansion Strategy: In the pursuit of international expansion, Miquel highlighted Tendam’s interest in Mexico, contemplating franchise acquisitions as a strategic move. The company remains cautious about entering certain markets, prioritizing regions with stable dynamics.
Community Contribution and Social Capitalism: Miquel underscored the value physical stores bring to local communities, emphasizing Tendam’s commitment to contributing positively. He expressed a broader vision for companies to play an active role in societal well-being, transitioning from what he termed «savage capitalism» to a new era of social capitalism.
Prospects of an IPO: While discussing Tendam’s readiness for a potential stock market debut, Miquel stated that the company would evaluate the option when the market reopens. He expressed confidence in Tendam’s readiness, emphasizing that the markets are presently closed.
Partnering for Success: Tendam, backed by CVC and PAI funds, views its partners as excellent collaborators in creating value and contributing to strategic thinking. This collaborative approach aligns with Tendam’s vision for a dynamic and sustainable future.
For more updates on Tendam’s growth journey and industry insights, stay tuned.
