What Tendam is and which entity heads the group
Tendam is a Madrid-based fashion group that designs and sells clothing and accessories through its own brands, stores, franchises and digital channels. Its Spanish parent entity is Tendam Brands, S.A.U., tax identifier A87870937, with its registered office at Avenida del Llano Castellano 51, Madrid. Cortefiel, Springfield and Women’secret are group brands and should be distinguished from the parent company. This profile uses the consolidated scope of Tendam Brands and its subsidiaries. Independent manufacturers and suppliers in its supply chain are outside that corporate group and its workforce. Tendam: legal notice; Tendam: 2025 sustainability report, PDF p. 3.
From a Madrid haberdashery to a portfolio of brands
The business traces its origins to the haberdashery opened by the García-Quirós brothers on Madrid’s Calle Romanones in 1880; this is not the incorporation date of today’s Tendam Brands. The La Palma shirt factory followed in 1933 and the first Cortefiel-labelled suits in 1945. Springfield launched in 1988 and Women’secret in 1993. International expansion began with stores in Portugal and France in 1991, and Pedro del Hierro joined in 1999. CVC, PAI Partners and Permira became shareholders in 2005; CVC and PAI acquired the whole company in 2017. Tendam became the corporate brand in 2018, followed by the acquisition of Hoss Intropia in 2019. Tendam: group history; Tendam: 2025 sustainability report, PDF p. 13; Tendam: 2025 sustainability report, PDF p. 14.
2PointZero control and management
UAE-based 2PointZero, formerly Multiply Group, controls Tendam through MG Ventures Holding LLC. The parent’s accounts record MG Ventures acquiring 67.91% of Luxembourg-based Castellano Investments, which owns 100% of Tendam Brands, effective 31 July 2025. Tendam’s 23 July announcement reported completion while identifying pending competition clearance for Bosnia and Herzegovina: these are distinct documentary dates and scopes. CVC and PAI remained minority investors through investment vehicles. The governance website checked on 8 November 2026 identifies Jaume Miquel Naudí as chairman and CEO. Tendam’s figures must not be added independently to its parent’s consolidated totals. 2PointZero: 2025 annual report, PDF p. 110; 2PointZero: 2025 annual report, PDF p. 130; Tendam: acquisition announcement, 23 July 2025; Tendam: governance, checked 8 November 2026.
How the business model works
Tendam combines the design and management of its own brands with external manufacturing and sourcing. Each brand retains creative, product and marketing teams while sharing corporate services, logistics and technology. Stores also support digital purchasing, order collection and returns. Five loyalty clubs associated with Women’secret, Springfield, Cortefiel, Hoss Intropia and Fifty support customer insight and personalised marketing. Since 2020 the platform has included selected third-party brands; distributing them does not establish ownership. The model requires coordination between directly operated stores, franchisees, sourcing offices, independent manufacturers and logistics operators, while preserving their distinct legal identities. Tendam: business model; Tendam: 2025 sustainability report, PDF p. 18; Tendam: 2025 sustainability report, PDF p. 80.
Brands and product segments
The 2025 report groups brands into segments. The specialist segment comprises Women’secret, Dash and Stars and HI&BYE, serving underwear, sportswear and teenage customers. The adult segment includes Cortefiel, Pedro del Hierro, Hoss Intropia, Slowlove and OOTO. The young segment groups Springfield, High Spirits and Springfield Kids. Fifty operates as a multibrand outlet chain, including Milano. The twelve own brands and third-party assortment share channels but retain different commercial positions. Segment revenue encompasses several brands and must not be attributed entirely to the best-known brand in that segment. Tendam: 2025 sustainability report, PDF p. 12; Tendam: 2025 sustainability report, PDF p. 14; Tendam: 2025 sustainability report, PDF p. 20; Tendam: FY2025 results, 16 June 2026.
Store network and logistics centres
For financial year 2025 Tendam reports 1,844 points of sale: 1,213 directly operated and 631 franchises. It identifies 67 markets with physical sales and 56 with online sales; these sets overlap and cannot be added to obtain a unique country count. The report locates the main European distribution centre in Aranjuez, Madrid, and another omnichannel centre in Illescas, Toledo. It also identifies one logistics centre in Hong Kong and two in Mexico, alongside sourcing units in Spain, Hong Kong, India and Bangladesh. Operating a facility does not mean owning the property: the report states that operational premises belong to third parties. Tendam: 2025 sustainability report, PDF p. 12; Tendam: 2025 sustainability report, PDF p. 80.
Revenue and reporting year
Financial year 2025 runs from 1 March 2025 to 28 February 2026. The report declares approximately €1,467 million in consolidated revenue and €111.7 million in net profit for Tendam Brands and its group. These measure different things: revenue indicates commercial scale, while profit is the result after costs and tax. This selection uses rounded revenue for the latest complete financial year, corroborated by the June 2026 results announcement. The economic table shows €1,467.30 million in total operating revenue, whereas the taxonomy table uses a slightly different revenue base; these figures are not merged. The evidence is published corporate information, without implying that this review examined complete audited financial statements. Tendam: 2025 sustainability report, PDF p. 3; Tendam: 2025 sustainability report, PDF p. 6; Tendam: 2025 sustainability report, PDF p. 154; Tendam: 2025 sustainability report, PDF p. 158; Tendam: FY2025 results, 16 June 2026.
Workforce and the limits of employment data
The 2025 report lists 10,975 employees, including 8,096 in Spain and 1,412 in Portugal. The total comprises 9,438 women and 1,537 men. These are people, not full-time equivalents; the tables reviewed do not specify whether this is a year-end count or an annual average, so neither interpretation is assigned. Employees work across offices, stores and logistics centres. The report itself identifies tracing limitations for some international human-resources data. Each employment indicator’s scope must be checked in its own table: worldwide headcount does not automatically make Spanish or Iberian prevention results worldwide measures. Tendam: 2025 sustainability report, PDF p. 3; Tendam: 2025 sustainability report, PDF p. 95; Tendam: 2025 sustainability report, PDF p. 96.
Data, artificial intelligence and omnichannel operations
The 2025 report puts digital sales at 15.8% of revenue. Tendam 5.0 combines brands, loyalty clubs, the store network and shared services through data analytics. In its 16 June 2026 announcement, Tendam reported more than 25 practical AI applications across the business. That statement describes commercial technology adoption; it does not establish a preventive application or a reduction in accidents. The same announcement planned more than one hundred point-of-sale openings during 2026. This is a plan, not a verified count of completed openings in this profile. Tendam: 2025 sustainability report, PDF p. 6; Tendam: 2025 sustainability report, PDF p. 18; Tendam: FY2025 results, 16 June 2026.
How prevention is organised
In Spain, Tendam has an internal prevention service covering occupational safety, industrial hygiene, ergonomics and applied psychosociology. Health surveillance is supported by an external prevention provider. The 2025 report documents 86 prevention representatives across 27 provinces, representing 8,096 employees, and 28 health and safety committees meeting quarterly. The prevention policy, approved by the chairman and CEO and reviewed annually, is stated to cover all workplaces and employees. That policy coverage does not establish group-wide ISO 45001 certification: no certificate with that scope has been verified for this profile. Tendam: 2025 sustainability report, PDF p. 105.
Psychosocial assessment and store emergencies
During financial year 2025, Tendam conducted 18 psychosocial-factor assessments in Spanish stores and prepared or updated risk assessments and evacuation and emergency plans in 263 stores in Spain. These are specific actions with a defined geographical scope; this passage does not publish each assessment’s scores or the subsequent effectiveness of each plan. In Portugal, 476 employees participated in the mandatory OHS consultation. The report also identifies four facilities with self-protection plans and states that all accidents and incidents are investigated. These measures document procedures and participation; they do not alone demonstrate the elimination of excessive workload, stress or emergency risks. Tendam: 2025 sustainability report, PDF p. 105.
Preventive training, health and wellbeing
In Spain and Portugal, 5,903 employees received prevention training during financial year 2025, totalling 12,793 hours. The table’s historical 2024 and 2023 figures cover Spain only and are not a like-for-like comparison. The company coordinated 2,646 medical examinations for headquarters and warehouse employees in Spain and Portugal. In a narrower site scope, Madrid headquarters reported 1,402 examinations. Five facilities, including that headquarters and the Aranjuez centre, had defibrillators. Be!Healthy added physiotherapy at headquarters, physical activities and wellbeing workshops. These activities supplement prevention; they are not presented as evidence of a causal reduction in injuries or mental-health disorders. Tendam: 2025 sustainability report, PDF p. 105; Tendam: 2025 sustainability report, PDF p. 106; Tendam: 2025 sustainability report, PDF p. 107.
Accidents and rates: preserve the reporting scope
The 2025 table records 206 accidents involving sick leave, 116 without sick leave and 6,198 days lost to accidents in Spain and Portugal, which the report identifies as 87% of the workforce. These are not worldwide figures and do not automatically include supplier employees. For Spain, the reported frequency index is 15.47 for men and 19.12 for women; the severity index is 0.38 and 0.64 respectively. The definitions include workplace and commuting accidents, using factors of one million and one thousand over hours worked. They therefore cannot be equated with TRIR or rates excluding commuting accidents. The report also records two occupational diseases without specifying their type, severity or geographical distribution alongside the figure. Tendam: 2025 sustainability report, PDF p. 105; Tendam: 2025 sustainability report, PDF p. 106.
Contractor coordination and supplier assessment
The report describes a platform and system for coordinating business activities, logistics and work in shopping centres. This establishes a coordination procedure, not a contractor accident rate. For external manufacturing, Tendam uses technical and social assessments, periodic audits and corrective plans. For 2025 it reports 353 factory social audits: 86 rated A, 91 B, 174 C, one D, none E and one unclassified. Its scheme permits production at a D-rated factory subject to corrective-action follow-up and provides for rejection if that rating is repeated. These results describe controls and identified deficiencies; they do not establish that the entire supply chain is free from risks. Tendam: 2025 sustainability report, PDF p. 105; Tendam: 2025 sustainability report, PDF p. 88; Tendam: 2025 sustainability report, PDF p. 89; Tendam: 2025 sustainability report, PDF p. 90.
Safety agreements and trade-union evidence
The official International Accord list dated 5 November 2026 includes Tendam Retail S.A. as a signatory to the international agreement and the Pakistan Accord. The report links these commitments to supplier assessments, training and safety improvements; they are not company-wide certification. Separately, CCOO’s December 2025 report described joint visits to two Karachi suppliers: it acknowledged corrections to contracting and contributions but identified long working hours and difficulties with trade-union representation. These union observations are limited to the sites visited. They help distinguish agreement membership, implementation and unresolved problems. International Accord: signatories, 5 November 2026; Tendam: 2025 sustainability report, PDF p. 91; CCOO: Tendam in Pakistan, December 2025, PDF p. 3; CCOO: Tendam in Pakistan, December 2025, PDF p. 12; CCOO: Tendam in Pakistan, December 2025, PDF p. 14; CCOO: Tendam in Pakistan, December 2025, PDF p. 15.
Product, circularity and the scope of claims
The report states that 57% of units in 2025 met Tendam’s internal sustainable-product standard. This classification uses corporate criteria for raw materials and/or processes; it does not mean that these garments have no environmental impact or that one certification covers the whole company. Springfield’s R[ECO]LLECT programme operated in 69 stores in Spain and Portugal, collecting used garments to support reuse or recycling. The report records 652 collections and 2,250 packages, not tonnes or a final recycling rate for all garments sold. These environmental aspects remain distinct from occupational health and safety outcomes. Tendam: 2025 sustainability report, PDF p. 6; Tendam: 2025 sustainability report, PDF p. 86; Tendam: 2025 sustainability report, PDF p. 152.
Labour complaint and agreement in Almería
In April 2026 UGT Almería alleged excessive workload and understaffing at Women’secret stores in the province; FashionUnited covered the dispute. On 5 June, the Andalusian Labour Relations Council announced a SERCLA agreement: planned staffing increases at four of five stores, regulated pay for store managers and deputies, and cancellation of strikes scheduled for 4–7 June. The announcement establishes an agreement, not its subsequent implementation or elimination of risks. This local dispute is not extrapolated to the whole workforce. UGT Almería: Women’secret claims, 7 April 2026; FashionUnited: Almería labour dispute, 3 April 2026; CARL: Women’secret Almería agreement, 5 June 2026.
What the Tendam case helps examine
As Sabentis’s editorial interpretation, this case connects store work organisation with psychosocial assessment, preventive coordination across an omnichannel network and the quality of accident data. Retail and logistics risks provide sector context; the 18 assessments, plans for 263 stores and committees are specific actions reported by Tendam. Assessing their effectiveness requires follow-up of measures, meaningful participation and results with comparable scopes. The 2025 report states that external verification took place, but this profile assigns no specific assurance opinion or level without the signed report. Wellbeing activities, a social audit and membership of an agreement do not replace checking outcomes. Tendam: 2025 sustainability report, PDF p. 3; Tendam: 2025 sustainability report, PDF p. 105; Tendam: 2025 sustainability report, PDF p. 106; Tendam: 2025 sustainability report, PDF p. 90.
Frequently asked questions
Are Tendam and Cortefiel the same company?
Cortefiel is one of Tendam’s brands. The Spanish parent entity is Tendam Brands, S.A.U.; the corporate structure includes Tendam Fashion and Tendam Retail. Consolidated revenue is not the same as sales of the Cortefiel brand. Tendam: legal notice; 2PointZero: 2025 annual report, PDF p. 110; Tendam: 2025 sustainability report, PDF p. 12. [1] · [2] · [3]
Is Tendam still a Spanish company?
Tendam Brands has its registered office in Madrid. UAE-based 2PointZero controls it through MG Ventures and Castellano Investments. This selection classifies its domicile as Spanish while identifying its foreign parent and avoiding the addition of its figures as independent of that parent. Tendam: legal notice; 2PointZero: 2025 annual report, PDF p. 130. [1] · [2]
Which period does 2025 revenue cover?
The financial year runs from 1 March 2025 to 28 February 2026. Approximately €1,467 million represents reported consolidated group revenue, not Spain-only sales or calendar-year 2025 revenue. Tendam: 2025 sustainability report, PDF p. 3; Tendam: 2025 sustainability report, PDF p. 6. [1]
Which specific preventive measures are documented?
The 2025 report identifies an internal prevention service in Spain, 28 committees, 18 psychosocial assessments in Spanish stores and assessment and emergency-plan work in 263 stores in Spain. It also reports training, health surveillance and activity coordination. These are reported actions, not guarantees of an absence of harm. Tendam: 2025 sustainability report, PDF p. 105; Tendam: 2025 sustainability report, PDF p. 106. [1]
Do the 206 accidents involving sick leave cover all of Tendam?
No. The table covers Spain and Portugal in financial year 2025. The frequency and severity indices on the same page cover Spain only and include commuting accidents. They should not be read as worldwide or contractor rates, or automatically equated with TRIR. Tendam: 2025 sustainability report, PDF p. 106. [1]
Does a supplier audit establish safety throughout the supply chain?
No. The 353 social audits reported for 2025 have individual results and follow-up requirements, including one D rating. Tendam Retail S.A. participates in the International Accord and Pakistan Accord, undertaking specific commitments. This does not replace checking individual factories or constitute global certification. Tendam: 2025 sustainability report, PDF p. 90; International Accord: signatories, 5 November 2026. [1] · [2]
