Tendam Group, the parent company of renowned brands like Cortefiel, Springfield, and Women’secret, reported a remarkable performance in the first half of the fiscal year. Their revenues reached €606.2 million, a 5% increase compared to the same period in 2022. Alongside this growth, Tendam boosted its recurring Ebitda by 8.2%, reaching €151 million.
Jaume Miquel, CEO and president of Tendam Group, attributed this success to the Tendam 5.0 strategy, which includes strengthening in-house brands, introducing new ones (such as Hi&Bye for Generation Z underwear and Springfield Kids), and advancing their omnichannel approach. The company now collaborates with third-party brands in its retail stores and e-commerce, boasting 150 available brands in its marketplace.
During the first half of the fiscal year, all core brands experienced growth, with Cortefiel and Pedro del Hierro sales surging by 8.3%. The group’s international expansion focus on Mexico also proved fruitful, with sales increasing by 20.4% in this crucial market, which now hosts 120 points of sale.
Additionally, Tendam’s strong financial performance allowed the company to redeem €190 million in bonds set to mature in 2028. This strategic move prompted leading rating agencies to upgrade their credit rating outlook for Tendam from stable to positive.
Miquel stated that the company is exploring possible strategic alternatives for its next phase of growth, including the potential for an initial public offering on a regulated market.
Tendam’s expanding commercial network included 25 new openings in the last year, reaching a total of 1,829 points of sale, comprising self-managed stores, corners, and franchises.
