Newsletter December

Tendam enters a new market as Springfield opens in Puerto Rico

newsletter 02122021

The Spanish textile company consolidates its presence in the Caribbean

Springfield, Tendam’s highly sustainable, contemporary-style brand opens in San Juan de Puerto Rico with a 270 m2 store in the Plaza las Américas shopping centre located in the island’s capital. This opening strengthens Tendam’s presence in the Caribbean and Central America, where it already has retail spaces in the Dominican Republic, Costa Rica, and Guatemala.

The new Springfield store targets an urban market between the ages of 25-35 and will feature the latest collections for men and women. It is located in Puerto Rico’s largest shopping centre, situated in the capital’s most important hub, adjacent to the central business district, in an area with the island’s highest demographic concentration. The store is also close to the airport, the Convention Centre, and major hotels.

For Tendam, entering Puerto Rico implies a commitment to a market with tremendous growth potential, which could reach 4% this year and which, in recent months, has received commercial support in the form of federal aid.

With the opening of this first Springfield store, the Spanish multinational continues its expansion in the region, where it currently has 23 points of sale: 14 in Costa Rica, six in the Dominican Republic, and three in Guatemala.

Tendam beats expectations in the first half of 2021 growing sales by 65% and recovering pre-pandemic levels a year early

newsletter 02122021

Tendam Brands, Tendam’s parent company and one of Europe’s leading omni-channel fashion retailers, today announces its results for the period from 1 March through 31 August 2021, which corresponds to the first half of the company’s 2021-22 financial year.
The company’s first half results reflect outstanding profit growth. Adjusted EBITDA for the first half stands at €131.5m, hitting 95% of the figure for 2019 and climbing €80.1m versus H1 2020, after rising for the fifth consecutive month.
With sales of €515m in the first half of the 2021/22 financial year, up 64.9% versus H1 2020, Tendam outperformed expectations and achieved 92% of its 2019 sales.
The digital business continued to enjoy robust growth, with sales climbing 34.5% versus H1 2020 and standing at +84.5% versus 2019. Digital sales now account for 16% of total sales in Spain.
The multi-brand digital platform now boasts more than 60 third-party brands.
The three new own brands launched by Tendam this financial year (Hoss Intropia, Slowlove and High Spirits) will all post positive EBITDA in their first year.
The company’s cash position is the highest in its recent history, standing at €386.6m for the six months ending 31 August, up 25.5% versus 2020 and 38.5% versus 2019.
The autumn-winter campaign is off to a very strong start for Tendam, with total sales in September up 21.6% versus September 2020 and like-for-like sales up 4.5% versus 2019.
The company is six months ahead of schedule in its sustainable product targets across all brands and its science-based decarbonisation goals have been validated by the SBTI initiative.
Loyalty club membership continues to grow; 2.2 million new members signed up over the last 12 months, taking the total to 28.9 million. The percentage of sales accounted for by loyalty club members in Tendam’s own stores rose by seven percentage points over the last 12 months to total 77.3%.
Tendam Chairman and CEO Jaume Miquel said: “The first half of the year has exceeded our expectations. All our brands and channels performed extremely well and online sales were up by an impressive 34.5%, which is all the more significant given the remarkable growth recorded by the online channel during the year of the pandemic as a consequence of operational limitations at the brick-and-mortar shops”.
And he concluded: “Our first half performance, the success of the growth initiatives rolled out under the strategic plan and the positive start to the second half lead us to believe that in spite of macroeconomic pressures related to supply chains and logistics, Tendam is in a strong position to further improve its full-year forecasts.”
With regard to sustainability, Tendam has reached its year-end target of ensuring sustainable products account for 25% of all brands’ collections six months ahead of schedule. Another milestone in H1 2021 was the validation of Tendam’s science-based decarbonisation targets by the Science Based Target Initiative (SBTI), which Tendam has joined in a bid to fulfil its commitments to the UN Global Compact, the 1.5º global warming initiative, The Fashion Pact and the United Nations Framework Convention on Climate Change (UNFICCA).

Hoss Intropia accelerates its expansion in physical store

newsletter 02122021

The Tendam brand, with almost 50% of its sales in the digital channel, increases its physical presence in Spain and Portugal with 11 new points of sale promoting omnichannel development

Hoss Intropia consolidates its growth plan in Spain and Portugal by adding 11 physical points of sale to the 28 already existing, reaching a total of 39. In six of them it integrates the @Showroom concept: a space where you can meet, touch and try a selection of garments that can be ordered at the moment and decide where to receive. Which, added to the online sales channel, which already reaches 47% of the sales planned by the company, and the expansion of the number of collections from 4 to 6, one of which is exclusively online sales, establishes the presence of the brand. in the market.

Hoss Intropia, which was acquired by Tendam in November 2019 launched its first spring-summer 2021 collection with the company on March 1, continues its plan of openings in physical Cortefiel stores and will now add 29 cities throughout the Iberian Peninsula . As of September 1 Albacete, Badajoz, Cáceres, Ciudad Real, Granada, Las Palmas, Palma de Mallorca, Tarragona, and Tenerife in Spain –and Cascáis and Colombo in Portugal in the coming weeks– will have new shopping spaces. The strong digital growth that the brand is experiencing is joined by the acceleration of openings in physical stores.

The concept of the space that houses the new openings follows in the wake of those previously opened, both in the format of boutiques, which will be 3, and corners, 8 on this occasion. Designed in a Mediterranean-inspired environment, with quality sustainable materials, generators of a bright, warm and welcoming atmosphere, with very careful images that reflect the essence of Hoss Intropia.

Likewise, Hoss Intropia continues to bet on the sustainability that has characterized it since its inception. Not only through its collections, in which more than 30% of the garments are more sustainable, but also through projects committed to the environment such as the one carried out together with Save Posidonia Project. It is a pioneering project in Europe in which both join forces to preserve the oceanic posidonia, a UNESCO World Heritage Site and one of the main green lungs on the planet.

Spanish retail giant Tendam selects Nedap iD Cloud for sustainable omnichannel fulfillment

newsletter 02122021

Nedap (AMS:NEDAP), the global leader in RFID solutions, today announces that Spanish retail giant Tendam has selected the iD Cloud Platform as part of its digitization strategy and drive to become more sustainable. The platform will be deployed in 1,222 stores throughout Europe, Russia, and Mexico.

Tendam, known from brands such as Women’secret, Springfield, and Cortefiel among others, has a strong omnichannel focus and wants to become an innovative fashion retailer, while keeping the environment in mind. RFID is the key enabler towards a fully transparent supply chain, allowing for full item traceability from source to consumer. Knowing the exact location and status of an item allows for lean operations, which results in lower safety thresholds, enabling Tendam to sell more with less stock and using more efficient fulfillment methods such as Ship-from-Store or Click & Collect (BOPIS).

By using RFID technology, we are taking a major step in our digitization strategy. Knowing exactly which items are in stock and where these are located in real-time enables us to always choose the most efficient fulfillment method. For example: if a customer lives just a few minutes away from the store, we think it is a waste to have a parcel sent from a distribution center. To us, it makes more sense to have this shipped from the nearest store or to have this picked up at a moment that suits the customer, as this is more efficient and more sustainable”, comments Manel Jimenez, Chief Operating Officer at Tendam.

Besides lean fulfillment processes and inventory accuracy, Tendam leverages product availability to enhance customer experience. Jimenez: “RFID brings us closer to implementing omnichannel services that further enhance our customer experience, such as smart fitting rooms and seamless checkouts using secured in-app and mobile payment solutions on the consumer’s own smartphone to provide a true omnichannel shopping experience.”

After implementing RFID in all 1,222 stores, the project will be expanded to the rest of the supply chain. The deployment of RFID readers in distribution centers and warehouses allows for the automation and optimization of data capturing, verification steps, and seamless integration with the merchandise flow. This allows for e.g. more effective return handling and efficient e-commerce order fulfillment, limiting human error and time spent preparing an order.

 

Tendam partners with YOOBIC to enhance employee engagement and streamline in-store operations.

newsletter 02122021

Digital platform unifies experience for shoppers, whilst improving communication among its frontline workforce.

Global fashion retail group Tendam has chosen the YOOBIC digital platform to increase employee engagement, streamline in-store operational efficiencies and optimize client experience.

Tendam partnered with YOOBIC to centralize task management, whilst delivering both an improved employee experience, via renewed communication and operations, and an enhanced customer experience in-store, all on one platform.

With a diverse set of brands, each with their own distinct identity and personality, Tendam wanted to unify brand consistency within their stores to elevate service and shopping experiences for its customers. 

Using the mobile-first YOOBIC platform, Tendam could ensure visual merchandising (VM) compliance through the app, without the need to use email to communicate with its frontline teams, ensuring the look and feel of each store consistently told the brand story for shoppers.

With a young, dynamic and digitally-native workforce, Tendam recognized that its frontline staff increasingly wanted to have communication delivered straight to the devices they’re used to operating on a daily basis, namely their smartphones. 

Tendam is using YOOBIC’s platform to digitally transform employee experience (EX), enabling direct communication with its frontline teams via the mobile app.  This not only improves speed of communications, with directives from HQ delivered in real-time but it also removes the reliance on paper forms, digitalizing in-store operations, processes and store checklists to improve accuracy and efficiency.

Raúl Ramírez, Global Retail Director at Tendam, commented: “The common thread that unites all of Tendam’s brands is the desire to put the customer first and foremost.  And to do this we needed to ensure that not only was brand storytelling consistent in the shopping experience each and every time a customer comes into store, but our store staff are motivated and empowered to create those lasting brand-led experiences.  Through YOOBIC, we have been able to enhance customer and employee experience, whilst gaining all the operational efficiencies within the store that the platform affords us.”

 

Tendam supports those damnified by the Cumbre Vieja Volcano

newsletter02122021

In September the Cumbre Vieja volcano, located on the island of La Palma in the Canary Islands archipelago, woke up causing irreparable damage to the inhabitants of La Palmaa. Tendam launched  #TodosSumamos_LaPalma campaign at the end of that month and some of its brands, Women’secret, Springfield, Cortefiel and Fifty made 27,000 units of garments, clothing and footwear available to those affected by the volcano.

Through the aid groups of Llanos de Aridane, El Paso and La Palma Red Cross institution started to distributed among warehouses close to the damaged towns.

Thanks to the Tendam operations, logistics, brands teams and, especially, the Fifty and commercial managers of La Palma and the Canary Islands, the garments have reached those affected.

We must highlight the special involvement of our colleagues from the Springfield and Women’secret stores in Santa Cruz de La Palma and Los Llanos de Aridane, who have collaborated with the organizations and have given their time to help classify and place the merchandise in warehouses enabled for those affected. Warehouses that were twice threatened by the wash and had to find new locations.

Proof of Tendam’s commitment, its brand Cortefiel has launched the solidarity initiative ‘X La Palma’ together with actress Toni Acosta and showman Andreu Buenafuente. The campaign is having great success and continues to add hearts in its communication through social networks.

Tendam’s Emissions Reductions Targets Validated by the SBTi

newsletter 02122021

SBTi validates Tendam’s targets to achieve a 46.2% reduction in scope 1 and scope 2 emissions between 2019 and 2030 and a 62% reduction of the intensity of scope 3 emissions per one million euros of revenues by 2030. The established targets will guide the company to become carbon neutral by 2040.

SBTi, which Tendam joined in 2019, is a partnership between the CDP (Carbon Disclosure Project), the UN Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and has been operating since 2015.

Tendam, one of Europe’s leading omni-channel fashion distribution groups which includes the retail brands Women’secret, Springfield, Cortefiel, Pedro del Hierro, Hoss Intropia, SlowLove, High Spirits and Fifty, announces that the Science Based Targets Initiative (SBTi) has validated its emission reductions targets, which entail a 46.2% reduction in scope 1 emissions (directly generated by the company) and scope 2 emissions (generated indirectly through the company’s energy consumption) between 2019 and 2030, and a 62% reduction in the intensity of scope 3 emissions (mainly attributed to external logistics and suppliers) per every one million euros of revenues, also by 2030.

The established targets will guide the company to become carbon neutral by 2040 and to fulfil its commitments to international initiatives like the UN Global Compact’s 1.5ºC Business Ambition, which aims to cut global warming from 2ºC to 1.5ºC.

Tendam has been measuring its carbon footprint since 2011, and in 2020 achieved a 38% reduction in its CO2 emissions versus the previous year. Direct scope 1 and 2 emissions directly resulting from the company’s activity were reduced by 77% fundamentally thanks to the use of renewable energy. In 2019, scope 3 emission calculations were refined and expanded to include new categories and in 2020 scope 3 emissions were cut by 36% versus the previous year. 82% of the energy consumed in Tendam’s facilities worldwide comes from renewable sources with that percentage standing at 100% in Spain.

In 2019, Tendam began to extensively review emissions related to its supply chain – scope 3 emissions – based on conservative estimates and calculations intended to improve its impact on the climate thanks to a sustainable product policy across all its brands and a detailed assessment of the CO2 impact of its core materials, garments and processes. For this reason, 2019 was chosen as the benchmark year for determining science-based targets.

SBTi has validated that Tendam’s targets and its adherence to initiatives and collective goals like the UN’s Business Ambition for 1.5º are sound and its calculations are science-based.

Jaume Miquel, Chairman and CEO of Tendam said: “It is time for us, as citizens of the world, to espouse a new social contract with the planet. Our sector, the fashion industry, must seek to make the most positive impact possible, working individually and collectively for a more enduring, timeless fashion that treats the product, its materials and the environment in a more thoughtful, respectful way”.

At the close of the first half of the year, Tendam was six months ahead of schedule on its sustainable product target, with 25% of all products qualifying as more responsible. Its new brands, which were launched in the first few months of 2021, boast collections comprising between 30% and 100% more sustainable products.

 

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