- Prachi Singh |
Tendam, having brands such as Cortefiel, Pedro del Hierro, Springfield, Women’secret and Fifty under its portfolio is said to be considering going public. According to a report by CincoDías, the company may launch the initial public offering (IPO) in 2020. The report added quoting industry sources that its current shareholders CVC Capital Partners and PAI Partners have decided to give it a green signal.
However, the report further said that among the factors that would decide whether the company would finally manage to launch its IPO or not include response to its winter collections, impact of Brexit decision on the European market and the trade war between China and the United States.
The company’s accounts of the last 12 months until its first fiscal quarter reveal an increase in net operating profit (Ebit) of 6 percent to 1,148 million euros, and an increase of 109.2 percent in net income driven by decrease in financial expenses to 37.8 million euros from 71.7 million euros a year earlier.
The European fashion retailer, earlier known as Grupo Cortefiel, announced a change of name as part of the group’s ongoing strategic plan to address the future challenges of internationalisation, growth and digitisation.
Picture:Tendam Brands media gallery