Multiply Group, an investment holding company based in Abu Dhabi, has made a move by securing a 67.91% stake in Tendam, a prominent player in the fashion retail sector. This landmark investment was made in partnership with CVC Capital Partners and PAI Partners, marking a pivotal moment for Multiply Group’s expansion strategy.

The investment is part of Multiply Group’s broader initiative to diversify its portfolio and strengthen its presence in global markets. The collaboration with CVC and PAI Partners is expected to enhance Tendam’s growth prospects and operational efficiencies, as they leverage their combined expertise in the retail industry.

According to an official statement from Multiply Group, this acquisition represents a strategic step towards unlocking new growth opportunities and achieving long-term value creation within their investment framework. The partnership aims to support Tendam in expanding its reach and enhancing its brand portfolio in the competitive fashion landscape.