Spanish apparel group Tendam is the latest company to bet on the recovery of the Iraqi economy. The company has opened three stores (for brands Cortefiel, Springfield and Women’s Secret) at Baghdad’s Al Mansour shopping mall earlier this week.
Launched in 2013, Al Mansour is one of the symbols of a new chapter in the city’s history. Cortefiel, Springfield and Women’s Secret share the space with several other international brands, including Timberland, Clarks, Clinique and Ecco.
“Iraq is a nation with a young population that, together with oil wealth, is an interesting attraction for investment”, wrote the Spanish company on its website. Tendam added that the high percentage of young people in Iraq’s population is one of the main reasons why it expects the three brands to do well in the country.
In addition to entering the Iraqi market, Tendam’s expansion plans include more store openings in Latin America, Asia, Europe and the Middle East in the near future.