Multiply Group completes acquisition of Tendam, will drive growth using AI as a lever
Multiply Group aims to accelerate Tendam's international expansion, particularly in Europe, Latin America, and the Middle East. The strategy includes integrating artificial intelligence (AI) across all business operations, from sourcing to customer interactions, to enhance growth and leverage Tendam's existing digital infrastructure.
Samia Bouazza, CEO and managing director of Multiply Group, stated that the acquisition is a strategic entry into the retail and fashion sector, investing in a "future-oriented and highly profitable business model". She emphasized leveraging Multiply Group's expertise in "synergy creation, artificial intelligence implementation, and strategic mergers and acquisitions" to accelerate growth and generate long-term value.
Jaume Miquel, chairman and CEO of Tendam, indicated that this acquisition marks a new era for the company, focusing on expanding brands into new formats, markets, and channels with advanced AI and digital technology to drive growth and profitability through an omnichannel fashion brand ecosystem. Financial performance and future outlook
For the 12 months ending 30 June 2025, Tendam reported total sales of approximately 1.4 billion euros and an EBITDA of 341 million euros. Multiply Group and Tendam plan to outline an "aggressive" five-year strategic roadmap in the coming months, targeting double-digit sales growth from 2026.
This growth is expected to be driven by expanding Tendam's 12 current brands, developing proprietary store networks in Spain and internationally (with a focus on Mexico and the Persian Gulf), and pursuing new acquisitions. Acquisitions are projected to account for approximately 45 percent of Tendam's revenue growth in the coming years, with the remaining 55 percent from organic growth. Tendam is open to acquiring companies that offer diversification (e.g., sports, footwear, accessories), market penetration, or internationalization opportunities.
Tendam's current portfolio includes 12 brands: Cortefiel, Pedro del Hierro, Women'secret, Springfield, Hoss Intropia, Slowlove, High Spirits, Dash and Stars, OOTO, Hi&Bye, Milano, and Fifty. Multiply Group's investment strategy
Multiply Group views Tendam as its first major investment in Europe and estimates it will double its operating EBITDA. The investment holding company plans further investments in Spain and Europe, focusing on acquiring strategic companies and injecting capital and technology to boost their market leadership. 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@fashionunited.com
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