Spanish clothing group Tendam, which owns brands such as Cortefiel, Springfield and Women’secret, was in the red in the last two months of the third quarter of 2025. It was the first period in which the results were included in the consolidated financial statements of the new parent company Multiply Group.
Tendam’s sales increased by 7.5 percent year-on-year to 739.0 million dirhams (187.5 million euros) in the period from July 31 to September 30. However, during the same period, the company suffered losses of around 21.4 million dirhams (5.4 million euros).
The Multiply Group’s total sales grew by 190.9 percent to 1.2 billion dirhams (309.4 million euros) in the third quarter. The reason for this was the takeover of Tendam and other acquisitions.
“Despite the market weakness in the third quarter, Tendam was able to increase its market share and increase sales by 7.5 percent, thanks to the continued strength of its specialized segments and the expansion of its online business,” explained Multiply.
Looking ahead to the coming months, Multiply Group plans to further strengthen its inorganic growth through the integration of Two Point Zero and Ghitha. Tendam is also “exploring possible mergers and acquisitions to accelerate geographic expansion and expand product offerings.” The focus is on international expansion in Europe, Latin America and the Middle East. Artificial intelligence should be integrated throughout the entire company – “from procurement to customer service”.
Originally published on FashionUnited.ES from Jaime Martinezadapted for an international audience by Alicia Reyes Sarmiento.
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