Multiply Group, an investment holding company based in the United Arab Emirates, announced the acquisition of Tendam, a group that owns brands such as Springfield, Women'secret, Cortefiel, and Pedro del Hierro.

The operation marks one of Multiply's biggest forays into the European fashion market and positions the group as a relevant new player in international retail.

Tendam is one of the largest specialized fashion operators in the Iberian Peninsula and currently has a network of over two thousand stores in 80 markets, with a direct presence or through franchising . The company has been investing in digital transformation, sustainability, and the expansion of its own and licensed brands, in addition to maintaining a strong focus on online channels.

Multiply, which has diversified its investments in sectors such as media , healthcare, energy, and technology, justifies the operation as part of its long-term strategy to strengthen its presence in consumer and lifestyle products globally. The acquisition of Tendam will allow it to capitalize on operational synergies and explore new markets, particularly in the Persian Gulf and Southeast Asia, where the holding company already owns other significant assets.

Although the total value of the transaction was not disclosed, sources close to the matter indicate that Multiply is expected to financially support Tendam's expansion and contribute to accelerating the group's digital and sustainable transition.

The operation is still subject to approval by the relevant regulators.