Jaume Miquel, the CEO and President of fashion conglomerate Tendam, has expressed the company’s readiness for a potential stock market debut once market conditions improve. While Miquel acknowledges that the markets are currently closed, he believes that Tendam’s sustainable and profitable business model has been validated. The company’s goal for the coming years is to achieve sustained and profitable growth of 6% to 8% and increase its market share from 6% in 2019 to 7% currently.

Tendam consists of popular brands such as Cortefiel, Springfield, Pedro del Hierro, SlowLove, and Otto. Its future plans involve transforming physical stores into stronger sales engines for third-party brands and expanding its membership base. The company also aims to accelerate the growth of new brands and potentially establish physical stores for those brands, similar to what they have done with Hoss Intropia. Miquel specifically highlighted the excellent performance of SlowLove, a brand that Tendam acquired from Sara Carbonero and Isabel Jiménez.

In terms of international expansion, Tendam is exploring opportunities in Iberia and Mexico. They are particularly interested in acquiring franchises in Mexico and integrating them into their business model. While Tendam currently operates in 80 countries through proprietary and franchised store models, it considers Spain, Portugal, and Mexico as its primary managed markets. The company has a strong presence in the franchise model from Mexico to Chile in Latin America.

Miquel explained that Tendam has decided not to focus on Argentina and Brazil due to market dynamics and currency volatility. They have also made a strategic decision to not prioritize China, as it does not align with their market position. Instead, the company is looking to focus on other areas for growth.

The transformation from Cortefiel to Tendam has played a crucial role in capturing market share aggressively. Tendam has built an ecosystem that hosts over 150 third-party brands in addition to its own brands. Miquel emphasized the complementarity of these brands and the company’s focus on engaging new customers. The creation of new niche brands and the revamping of physical stores into digital hubs for sales and logistics have been key drivers of growth.

Despite the presence of third-party brands, Miquel has stated that there is no evidence of cannibalization. In fact, online sales have increased conversion rates, average spending, and time spent on pages. Tendam has also started selling these brands in physical stores but in digital formats.

Miquel also highlighted the importance of physical stores in creating value and stability within communities. He emphasized the social importance of physical stores in aiding community integration and stated that companies should contribute to the community. Tendam currently covers 80% of the population and maintains a 97% profitable network.

Miquel believes that the era of “savage capitalism” is over and companies should play an active role in creating a positive impact within society. He expressed his gratitude for the support of CVC and PAI funds in Tendam’s growth and strategic thinking, describing them as excellent partners in creating value for the company.

In conclusion, Tendam’s CEO Jaume Miquel is optimistic about the company’s growth prospects and its potential for a stock market debut. By focusing on sustainable and profitable growth, expanding internationally, and transforming physical stores, Tendam aims to strengthen its position in the fashion industry and create value within communities.

Useful Links:
Tendam Official Website
Tendam Brands