Cortefiel owner gets ready to float

Cortefiel owner gets ready to float

TENDAM: Cortefiel owners preparing an IPO Photo credit: CC/Zarateman

Tendam, best known for its Cortefiel, Springfield and Women’s Secret labels amongst others, is preparing to go public.

As predicted, based on October 2023 Reuters reports, Tendam has selected Paribas, Citigroup and JPMorgan as the lead managers and global coordinators of the initial public offer (IPO) with an estimated value of €2 billion.

Societe Generale, Credit Agricole, BBVA and CaixaBank will join the investment banks as co-managers, with the further addition of a “third line” expected in coming weeks, the financial daily Cinco Dias revealed on March 20.

The private equity groups CVC and Pai Partners, Tendam’s owners since 2005, have also appointed Rothschild as the operation’s financial adviser.

During the first nine months of Tendam’s financial year, which finished in February 2024, the company reported a turnover of €884.3 million, 5.2 per cent more than the previous year.  It now expects a gross profit of  €310 million for 2022-2023.

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Written by

Linda Hall

Originally from the UK, Linda is based in Valenca and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share? Then get in touch at