Multiply Group Completes Acquisition of Tendam, Doubling Operational EBITDA and Expanding Global Footprint

ABU DHABI, United Arab Emirates & MADRID & LONDON & LUXEMBOURG & PARIS, July 24 (Bernama) -- Multiply Group (ADX: MULTIPLY), the Abu Dhabi-based investment holding company that invests in and operates businesses globally, today completed its first major investment in Europe with the acquisition of a majority stake in Tendam, Spain’s second-largest apparel group by market share¹. The deal doubles Multiply’s operational EBITDA post-consolidation and expands its model to acquire standout businesses, unlock potential through capital and tech, and deliver sustained market leadership.

As one of Europe’s leading omnichannel apparel groups, Tendam operates more than 1,800 points of sale and runs successful digital loyalty programmes in over 80 markets, including Spain, Portugal, France, the UAE, and Latin America, making it well-positioned in the evolving retail landscape. From affordable fashion to premium styles, the company’s diversified portfolio of 12 established brands caters to multiple customer segments through its leading fashion brands such as Women’secret, Springfield, Cortefiel and Pedro del Hierro, among others.