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 Multiply Group's 67.91 percent stake valued at approximately 880 million euros. This acquisition positions Tendam as the anchor platform for Multiply Group's new investment vertical in fashion and retail. The acquisition of Tendam's business in Bosnia and Herzegovina is pending approval from competition authorities.