Buckle up because Multiply Group just made a major move and it’s shaking up the global retail game in a way you didn’t see coming. If you thought the UAE was all about real estate and tech, think again, because Multiply is diving into the world of fashion, and they’re doing it in a big way.

Say hello to their latest power move: the acquisition of Tendam, Spain’s second-largest apparel group! Multiply Group now holds a majority stake in Tendam, and the impact? Huge. This deal, valued at €1.3 billion enterprise value, means Multiply’s operational EBITDA has officially doubled.

A true fashion fashion giant with some serious style

So, who is Tendam? Well, they’re one of Europe’s top omnichannel apparel groups, with a portfolio that includes some seriously popular brands like Women’s Secret, Springfield, Cortefiel, and Pedro del Hierro. With over 1,800 points of sale spread across across more than 80 countries, including Spain, Portugal, the UAE and Latin America, Tendam’s not just making waves, they’re dominating the retail scene. And now, Multiply Group is taking the reins.

Multiply Group has locked in a 67.91% majority stake in Castellano Investments S.À R.L., the parent company behind Tendam. With this acquisition, Multiply is set to expand Tendam’s footprint even further, and you know what that means! More fashion, more growth, and more global domination!

 

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What’s the big plan here? It’s simple: Multiply is going global, and they’re doing it with the power of tech

First up? Expansion.

Multiply has big plans to take Tendam into even more markets, focusing on Europe, Latin America, and the Middle East. But they’re not just stopping there! They’re all about using AI to make things run even smoother. From sourcing to customer service, AI is going to be the driving force behind this next phase of growth. Multiply is also eyeing some strategic M&A to add more brands and categories into the mix.

Samia Bouazza, the CEO of Multiply Group, put it best: “By securing a controlling interest in a leading omnichannel platform, we are investing in a future-focused, high-performing business model backed by an outstanding management team. Built on strong, well-established owned brands, the platform offers the agility and vision to expand into new categories and scale emerging brands globally.”

 

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Now, with Multiply’s backing, Tendam is about to get even bigger, faster, and smarter. Expect to see these brands popping up all over the globe in a way that’ll make you do a double-take!

Jaume Miquel, CEO of Tendam, is just as excited: “We’re starting a new era with Multiply. With their support, we’re ready to take our brands to new places and new channels, backed by the best in AI and digital tech.”

So, what’s on the horizon?

Multiply and Tendam are focused on:

• Further expanding into new markets like Europe, Latin America, and the Middle East

• Leveraging AI to optimize everything from sourcing to customer service

• Exploring M&A opportunities to introduce fresh brands and categories

• Creating long-term growth and value for shareholders

Multiply Group’s move into retail is HUGEEEE a game-changer!