Spanish retail group Tendam, one of Europe’s leading fashion retailers, has opened a luxury store in the upmarket commercial district of Westlands in Nairobi, its first venture into East Africa.
The luxury brand, which operates stores in 79 countries with 2,056 points of sale across the globe, said the new store located at the West Gate Shopping Mall deals in its Women’s Secret and Springfield brands.
Targeting a market between the ages of 25 and 45, its collections include undergarments, sleepwear, accessories, and swimwear.
Its Springfield brands on the other hand target young, urban and cosmopolitan men and women. The Kenya entry coincides with the retail giant’s expansion across the continent, with recent openings in Tunisia, Mauritius, and Libya.
“Tendam will continue with its international growth policy, thanks to its own stores and franchises,” said the firm in a statement.
Tendam, which also deals in exclusive high-end custom-fitted clothing (Haute couture), ended the year 2018 with a profit of Sh8.9 billion ($88.9 million).
Group sales, on the other hand, stood at Sh130 billion ($1.3 billion). Direct management of Tendam stores includes more than 1,400 stores primarily located in Europe, while the nearly 600 franchises serve as the main vehicle for expansion in the remaining markets.
Tendam brand franchises are managed by franchisees who specialise in the fashion sector, with extensive knowledge of their local markets and financial capacity to develop the brands.
Source: Business Daily Newspaper.