Tendam eyes IPO in late 2024 or early 2025, pending market conditions

Jaume Miquel, president and CEO of Tendam – a fashion group that owns brands such as Cortefiel, Pedro del Hierro, Women’secret and Springfield – has estimated that the company could go public “this year or early next year, depending on market conditions.”

This statement comes in the wake of the successful IPO of Puig on May 3.

During the International Forum hosted by the newspaper Expansión, Miquel initially hesitated to disclose specific plans about Tendam’s IPO: “No, there is nothing that can be known at this time.”

However, he reiterated the group’s intention to initiate a public offering, stating, “It should happen this year or at the beginning of next year, provided that the market conditions are favorable.”

“The critical factor is to have a company that is ready for the IPO,” Miquel noted, adding that “a series of conditions need to align.”

He specifically mentioned the need for a “reasonably robust market” and that, geopolitically, “nothing unusual should suddenly occur.” He assured that when the time comes, “the company will be prepared.”

Referring to the recent IPO of the fashion and perfume group Puig Brands on May 3, Miquel praised their market debut as “very successful,” calling it “a great company.”