Multiply Group news and archive

Multiply approves integration of Two Point Zero and Ghitha, boosts valuation to 28 billion euros

Madrid – Following the news reported by FashionUnited last week, an extraordinary General Shareholders' Meeting for Multiply Group, the parent company of Tendam, was held this Monday at its Abu Dhabi headquarters. The meeting was convened to address the complex financial transaction for the integration, via acquisition, of two Emirati companies...

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Tendam reports losses of five million euros after Multiply's entry

Spanish fashion multinational Tendam, owner of Cortefiel, Springfield, and Women'secret, experienced a negative profitability in the last two months of the third quarter of 2025, the first period in which its results were consolidated within the financial statements of its new parent company, Multiply Group. Revenues for Tendam rose by 7.5...

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A visit to Tendam's new Illescas logistics centre

At the invitation of Tendam and technology company Dematic, FashionUnited toured the new logistics centre that the Spanish fashion multinational has now brought to full capacity in the Toledo town of Illescas, Spain. This is a particularly strategic location, bordering Madrid, where the company has just established the new hub for its online...

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Multiply Group completes acquisition of Tendam, will drive growth using AI as a lever

Multiply Group, an investment holding company based in Abu Dhabi, completed the acquisition of a 67.91 percent stake in Tendam, a Spanish fashion multinational, on 23 July 2025. Tendam owns brands such as Cortefiel, Springfield, and Women’secret. The transaction values Tendam at approximately 1.3 billion euros (5.6 billion UAE dirhams), with...