Canonical URL: https://elacelerador.es/en/acquisition/tendam-digital-growth-loyalty-clubs-first-half-2026/ --- description: Tendam’s half-year results, multi-brand model and Cortefiel and Springfield loyalty mechanics, with financial data and Cortefiel searches in Spain. title: Tendam: 20.7% digital growth and five loyalty clubs image: https://elacelerador.es/images/social/v1/tendam-grows-digital-revenue-20-7-through-multi-brand-model-five-loyalty-e297e0c7bec1f648fc71e6253c93169e.jpg --- 1. [Home](https://elacelerador.es/en/) 2. [Acquisition](https://elacelerador.es/en/acquisition/) # Tendam grows digital revenue by 20.7% through a multi-brand model and five loyalty clubs The group reports €744.9 million in sales between March and August. Its clubs, more than 200 third-party brands and stores’ logistics role explain the commercial architecture. By [Marian Vasile](https://elacelerador.es/en/author/marian-vasile/) 19 October 2026 at 05:56 CEST 14 min read [ Add as preferred source ](https://www.google.com/preferences/source?q=elacelerador.es&utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es) Share [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Felacelerador.es%2Fen%2Facquisition%2Ftendam-digital-growth-loyalty-clubs-first-half-2026%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial&utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es "Share on LinkedIn") [ ](https://wa.me/?text=Tendam+grows+digital+revenue+by+20.7%25+through+a+multi-brand+model+and+five+loyalty+clubs+https%3A%2F%2Felacelerador.es%2Fen%2Facquisition%2Ftendam-digital-growth-loyalty-clubs-first-half-2026%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial&utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es "Share on WhatsApp") [ ](https://t.me/share/url?url=https%3A%2F%2Felacelerador.es%2Fen%2Facquisition%2Ftendam-digital-growth-loyalty-clubs-first-half-2026%2F%3Futm%5Fsource%3Dtelegram%26utm%5Fmedium%3Dsocial&text=Tendam+grows+digital+revenue+by+20.7%25+through+a+multi-brand+model+and+five+loyalty+clubs&utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es "Share on Telegram") [ ](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Felacelerador.es%2Fen%2Facquisition%2Ftendam-digital-growth-loyalty-clubs-first-half-2026%2F%3Futm%5Fsource%3Dfacebook%26utm%5Fmedium%3Dsocial&utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es "Share on Facebook") ![Window display and sign of the Cortefiel store on Gran Vía in Bilbao](https://elacelerador.es/images/variants/v1/tendam-grows-digital-revenue-20-7-through-multi-brand-model-five-loyalty-w1280.webp) Cortefiel store on Gran Vía in Bilbao, March 8, 2020\. Archive photograph by Zarateman, CC0 1.0\. Framing, size and format adapted. Photo: [Zarateman · CC0 1.0](https://commons.wikimedia.org/wiki/File:Bilbao%5F-%5FTienda%5Fde%5FCortefiel%5Fen%5FGran%5FV%C3%ADa.jpg?utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es) **In this report** 1. [Three growth rates describing related businesses](#article-section-three-growth-rates-describing-related-businesses) 2. [Five clubs and a crucial distinction between people and memberships](#article-section-five-clubs-and-a-crucial-distinction-between-people-and-memberships) 3. [More than 200 third-party brands broaden the catalogue](#article-section-more-than-200-third-party-brands-broaden-the-catalogue) 4. [Cortefiel’s search calendar](#article-section-cortefiel-s-search-calendar) 5. [Physical stores also work for the online channel](#article-section-physical-stores-also-work-for-the-online-channel) 6. [Demand, margin and artificial intelligence](#article-section-demand-margin-and-artificial-intelligence) 7. [Who's who and how to read the figures](#article-section-who-s-who-and-how-to-read-the-figures) 3 figures * [Three growth rates in the fiscal half-year](#article-figure-1) * [Sales and reported results for March–August 2026](#article-figure-2) * [Cortefiel searches in Spain across the year](#article-figure-3) [Download data (CSV)](https://elacelerador.es/en/download.csv?article=%2Fen%2Facquisition%2Ftendam-digital-growth-loyalty-clubs-first-half-2026%2F) Chart values, table cells, source references and the report revision date. [Tendam](https://elacelerador.es/en/company/tendam/) ’s digital revenue grew by 20.7% in the first half of its 2026 financial year, compared with a 10.7% increase in total sales to €744.9 million. The group behind Cortefiel, Springfield and Women’secret reports these results with more than 27 million unique members across its loyalty clubs. That combination makes the case relevant to marketing: online growth takes place within a platform sharing commercial capabilities and customer knowledge among brands that retain their own teams and identities. The results provide a way to examine the organisation behind that multi-brand proposition. The period runs from 1 March to 31 August 2026\. It is the company’s first fiscal half-year; its own announcement is dated 16 September, while Revista Centros Comerciales reported the results on 14 September. The information describes the business over those six months. Chairman and chief executive Jaume Miquel points to the continuation of a strong start to the season and identifies artificial intelligence for demand management and margin optimisation among the priorities. The company also plans to strengthen its digital and technological capabilities in the second half of the financial year. ## Three growth rates describing related businesses The 20.7% digital increase is ten percentage points above the 10.7% growth in total revenue. Sales on a comparable-area basis rose by 7.6%. The three rates describe different dimensions of the half-year: digital-channel development, aggregate sales and comparable sales. Digital is the fastest-growing of the three. At the same time, the comparable improvement shows growth across an existing commercial base alongside the development of channels and formats. The result is broader than a simple addition of new stores: the announcement places channel growth within the performance of an established retail operation. The data behind the story ### Three growth rates in the fiscal half-year Change in digital revenue, total sales and comparable-area sales between March and August 2026 against the same period of the preceding financial year. Year-on-year change Tap or hover for details. All values are also available in the data table. Expand notesCollapse notes **Source:** Tendam · first-half fiscal 2026 results Fiscal first half: 1 March–31 August 2026\. Each rate has its own prior-year revenue base: digital channel, aggregate sales and comparable area. These are not shares of sales. Explore the data table Scroll left or right to see all columns __Three growth rates in the fiscal half-year (%)__ | Category | Year-on-year change | | ---------------- | ------------------- | | Digital revenue | 20.7% | | Total sales | 10.7% | | Comparable sales | 7.6% | The release also supplies the economic context. Net profit rose by 27.9% to €59.3 million, while EBITDA increased by 12.2% to €190.2 million. Gross margin reached 63.4%, improving by 0.2 percentage points against the first half of 2025\. These indicators perform different roles: revenue describes commercial scale, EBITDA provides a measure of operating results, and net profit is the final result reported by the company. Margin development helps explain why Miquel includes its optimisation among the priority uses of technology, alongside the task of managing demand across the business. The data behind the story ### Sales and reported results for March–August 2026 Aggregate amounts published by Tendam for its fiscal first half: sales, EBITDA and net profit, expressed in millions of euros. Reported amount EUR million Tap or hover for details. All values are also available in the data table. Expand notesCollapse notes **Source:** Tendam · first-half fiscal 2026 results These are three different financial measures for the same group and period, not components to be added together or results exclusively attributable to digital channels. EBITDA and net profit retain the release’s labels. Explore the data table Scroll left or right to see all columns __Sales and reported results for March–August 2026 (EUR million)__ | Category | Reported amount | | ---------- | ----------------- | | Sales | 744.9 EUR million | | EBITDA | 190.2 EUR million | | Net profit | 59.3 EUR million | For digital strategy, the important question is how the group organises the business behind those figures. Tendam describes a shared platform serving owned, incubated and third-party brands aimed at different customer segments. Its brands retain their design, product and marketing teams while sharing corporate services. The structure preserves each label’s specialism and uses common resources to support it. Shoppers interact with a recognisable brand; the group builds capabilities that can serve several of them. Brand identity and the organisational resources used to operate it therefore sit at different levels of the model. ## Five clubs and a crucial distinction between people and memberships The company’s business-model page identifies five clubs associated with Women’secret, Springfield, Cortefiel, Hoss Intropia and Fifty. It publishes two figures together: more than 27 million unique members and 41 million members. The first describes distinct people within the loyalty base; the second reflects the clubs’ membership dimension. That distinction matters in a multi-brand group, where one person can maintain relationships with more than one label. The half-year release dates the unique-member base to 31 August 2026 and presents it as a central element of the group’s model. Loyalty is connected with personalisation and digitalisation. Tendam says it listens to and communicates with members to offer relevant propositions and uses advanced data analysis. The commercial value of that relationship lies in knowing a customer over time, as well as attracting an individual purchase. The brands address different interests and life stages: the corporate history presents Springfield as youthful casual fashion and Women’secret as lingerie and swimwear, while the results release describes OOTO for men and Springfield Kids for children. Segmentation is built into the way the company organises its offer. The Spanish club pages, consulted in October, give this consumer relationship a specific form. Cortefiel & Pedro del Hierro explains that identified purchases, online and in physical shops, accumulate a balance generating vouchers: five euros off for every €75 spent. Vouchers are issued in multiples of five and expire two months after issue. The programme turns a purchase into an incentive with a deadline for returning. Its homepage also advertises a birthday gift starting at €12\. The benefit is presented alongside the catalogue and member identification, within the label’s commercial journey and the continuing relationship offered to its customers. Springfield uses a different invitation: join the club free and receive €12\. This recruitment proposition differs from the birthday gift advertised by Cortefiel. Its programme uses Springfield Money, a balance customers can consult in their account alongside their level and the corresponding benefits. The page says it must be used in full on a purchase worth at least as much as the balance, and that it remains valid for six months. The incentive therefore has accumulation and redemption rules within the relationship with the brand. These are conditions published in October, after the March–August period covered by the financial results. Identification connects the channels in a specific way. Both pages provide registration through the website, app or a physical shop. Their frequently asked questions tell members to log in to accumulate benefits on an online purchase. In a store, they can show their membership card’s barcode in the app or provide their details to staff. The app therefore supports identification as well as serving as a commercial channel. The account brings together the balance, level and benefits alongside routes to orders and returns. The same member relationship is presented through a digital session or identification at the shop’s till. Category review introduces another time dimension. Cortefiel publishes three levels, Plata, Oro and Platino, and carries out a general review each 1 March based on purchases and returns between 21 February of the preceding year and 20 February of the current year. The new level’s benefits take effect on 1 March. Springfield organises its programme into Friend, Fan and Lover, with an annual review at the end of February; new members start as Friend until that review. The programmes therefore combine incentives for purchasing with a membership category reviewed according to its own calendar, alongside the shorter validity periods attached to individual rewards. The multi-brand relationship also appears within Springfield’s rules. On myspringfield.com, its page says purchases involving High Spirits and guest brands count towards the programme and allow Springfield Money to be redeemed. The balance can be used across a catalogue broader than the principal label alone. Management is concentrated in the customer account, where available money and its expiry can be checked and membership level reviewed. The programme thus accompanies the expansion of the offer: navigation presents different labels, while loyalty maintains a recognisable commercial relationship when customers use them. The wider assortment is connected to a programme already presented within the brand’s shopping environment. Returns form part of that operation. Cortefiel says a full return can regenerate the voucher with its original validity if it has not expired; a partial return loses the proportional amount allocated to the item. Springfield explains that the redeemed discount is distributed across the items on the receipt and that the amount corresponding to a returned product goes back to the member balance, unless it expired during the return period. These rules help explain continuity in the relationship: purchases, discounts and returns affect the account customers consult through the different channels and the benefits they can subsequently use. ## More than 200 third-party brands broaden the catalogue The platform is open to more than 200 third-party brands, according to the corporate pages consulted. Tendam combines that offer with owned labels and the creation of new brands for particular customer segments. A broader catalogue uses existing places of contact: its brands’ physical and digital stores. For visitors, the commercial proposition can cover more options within a familiar environment. For the group, it adds a dimension of product selection and distribution to its capacity to design and develop its own collections. The multi-brand platform connects those activities within the same commercial organisation. The corporate timeline dates this opening to 2020, when Tendam incorporated third-party brands into its multi-brand omnichannel platform. That step followed a longer digital history. Women’secret became the first group label to sell online in 2000; the company dates the online presence of all its brands to 2012\. Digital growth in 2026 therefore rests on channels developed over many years and a subsequent broadening of the commercial offer. The current half-year gives a quantitative update on that development, rather than marking the beginning of the group’s ecommerce activity or its first use of a multi-brand model. At Cortefiel, this breadth is visible in navigation separating exclusive and guest brands. The former include Cortefiel, Pedro del Hierro, Slowlove, Hoss Intropia and TFP by Tamara Falcó; guest labels include Vero Moda, Polin et Moi, Silbon and Morgan. The storefront also includes beauty and home products, presenting Nuxe, The Body Shop and Freshly Cosmetics in one category and Calma House, Textura and Bassols in another. The platform thus broadens the occasions for searching beyond one label’s collection. Visitors can enter through a brand, a product category or a particular purchasing need, with several routes into the wider commercial offer. Springfield’s Spanish website organises entrances for women, men and children aged five to 14, alongside a section for guest brands. Among the labels appearing there are Only, JDY, Pepe Jeans, New Balance and Levi’s. The children’s catalogue adds names including Name it and Xti. Categories combine clothing, footwear, accessories and seasonal editorial content. The brand retains its own presentation and club routes while the available products extend into other labels. This storefront gives a specific expression to the combination Tendam describes at corporate level: brand identity, audience segmentation and a multi-brand offer distributed through the company’s own commercial channels. ## Cortefiel’s search calendar Search interest in Cortefiel in Spain adds a time-based perspective on one of the labels. In the weekly series, the maximum of 100 appears on 4–10 January 2026; the week of 23–29 November 2025 records 77\. The level reaches 62 for two consecutive weeks, from 28 June to 11 July, compared with 23 on 13–19 September and 33 on 4–10 October. The profile shows substantial fluctuations, with its largest peak before the fiscal half-year. This relative index describes searches for Cortefiel in Spain, while the revenue growth concerns the group’s digital business. The data behind the story ### Cortefiel searches in Spain across the year Weekly relative search interest in Cortefiel in Spain, from 19 October 2025 to 10 October 2026. Cortefiel interest index (0–100) Tap or hover for details. All values are also available in the data table. Expand notesCollapse notes **Source:** Google Trends Explore the data table Scroll left or right to see all columns __Cortefiel searches in Spain across the year (interest index (0–100))__ | Category | Cortefiel | | --------------------- | -------------------------- | | 2025-10-19/2025-10-25 | 33 interest index (0–100) | | 2025-10-26/2025-11-01 | 42 interest index (0–100) | | 2025-11-02/2025-11-08 | 51 interest index (0–100) | | 2025-11-09/2025-11-15 | 44 interest index (0–100) | | 2025-11-16/2025-11-22 | 55 interest index (0–100) | | 2025-11-23/2025-11-29 | 77 interest index (0–100) | | 2025-11-30/2025-12-06 | 67 interest index (0–100) | | 2025-12-07/2025-12-13 | 62 interest index (0–100) | | 2025-12-14/2025-12-20 | 61 interest index (0–100) | | 2025-12-21/2025-12-27 | 67 interest index (0–100) | | 2025-12-28/2026-01-03 | 82 interest index (0–100) | | 2026-01-04/2026-01-10 | 100 interest index (0–100) | | 2026-01-11/2026-01-17 | 76 interest index (0–100) | | 2026-01-18/2026-01-24 | 66 interest index (0–100) | | 2026-01-25/2026-01-31 | 57 interest index (0–100) | | 2026-02-01/2026-02-07 | 44 interest index (0–100) | | 2026-02-08/2026-02-14 | 34 interest index (0–100) | | 2026-02-15/2026-02-21 | 31 interest index (0–100) | | 2026-02-22/2026-02-28 | 30 interest index (0–100) | | 2026-03-01/2026-03-07 | 30 interest index (0–100) | | 2026-03-08/2026-03-14 | 27 interest index (0–100) | | 2026-03-15/2026-03-21 | 30 interest index (0–100) | | 2026-03-22/2026-03-28 | 30 interest index (0–100) | | 2026-03-29/2026-04-04 | 31 interest index (0–100) | | 2026-04-05/2026-04-11 | 32 interest index (0–100) | | 2026-04-12/2026-04-18 | 35 interest index (0–100) | | 2026-04-19/2026-04-25 | 37 interest index (0–100) | | 2026-04-26/2026-05-02 | 38 interest index (0–100) | | 2026-05-03/2026-05-09 | 35 interest index (0–100) | | 2026-05-10/2026-05-16 | 37 interest index (0–100) | | 2026-05-17/2026-05-23 | 38 interest index (0–100) | | 2026-05-24/2026-05-30 | 44 interest index (0–100) | | 2026-05-31/2026-06-06 | 45 interest index (0–100) | | 2026-06-07/2026-06-13 | 43 interest index (0–100) | | 2026-06-14/2026-06-20 | 47 interest index (0–100) | | 2026-06-21/2026-06-27 | 58 interest index (0–100) | | 2026-06-28/2026-07-04 | 62 interest index (0–100) | | 2026-07-05/2026-07-11 | 62 interest index (0–100) | | 2026-07-12/2026-07-18 | 55 interest index (0–100) | | 2026-07-19/2026-07-25 | 48 interest index (0–100) | | 2026-07-26/2026-08-01 | 47 interest index (0–100) | | 2026-08-02/2026-08-08 | 42 interest index (0–100) | | 2026-08-09/2026-08-15 | 34 interest index (0–100) | | 2026-08-16/2026-08-22 | 30 interest index (0–100) | | 2026-08-23/2026-08-29 | 30 interest index (0–100) | | 2026-08-30/2026-09-05 | 28 interest index (0–100) | | 2026-09-06/2026-09-12 | 28 interest index (0–100) | | 2026-09-13/2026-09-19 | 23 interest index (0–100) | | 2026-09-20/2026-09-26 | 27 interest index (0–100) | | 2026-09-27/2026-10-03 | 27 interest index (0–100) | | 2026-10-04/2026-10-10 | 33 interest index (0–100) | ## Physical stores also work for the online channel The corporate model gives the physical store a digital function: alongside being a customer contact point, it can act as a logistics hub serving online sales. This connects digital growth with a retail network already in place. The shop participates in an operation extending beyond its display and selling area. Tendam describes a widely distributed network close to consumers and a move towards more agile stores. Under that approach, digital channels and physical shops share part of the infrastructure needed to meet demand, giving the established network a role within the online commercial proposition. The Women’secret Cabinet format appears in the results release as an example of a shopping experience with greater omnichannel integration. Eight of the 16 stores opened by the brand between March and August use the concept. Those 16 are part of 32 new outlets across the group’s principal labels, alongside Cortefiel, Pedro del Hierro and Springfield, mainly in Mexico, Portugal and Spain. The figure places the format within a specific expansion programme. Its digital relevance lies in the role the company assigns it as an integrated experience within Women’secret’s strategy, alongside the label’s existing commercial channels. Net group openings totalled 60 during the half-year. Some brands also developed their own formats: Springfield Kids had 15 stores in Spain; Slowlove ended the period with nine owned stores after adding eight; and OOTO opened seven owned outlets between March and August. These are different situations within a developing portfolio. Their connection with marketing strategy lies in giving particular audiences a commercial space and identity supported by shared group services. The network includes international markets as well as Spain, so the release’s expansion figures describe the group’s broader commercial activity across its reported markets. Tendam’s history shows how this portfolio took shape. Springfield was founded in 1988 and Women’secret in 1993; the group acquired Pedro del Hierro in 1999 and Hoss Intropia in 2019\. High Spirits appears in 2021, OOTO in 2022, and HI&BYE and Springfield Kids in 2023\. The labels therefore combine established histories, acquisitions and newer initiatives. Their communication and product requirements differ, but they share a corporate model organising channels and services. That combination forms part of the context for the online growth reported in September, alongside the loyalty base and the widening range of products sold through the platform. ## Demand, margin and artificial intelligence Miquel identifies demand management and margin optimisation as particular areas of AI development. Choosing those two fields connects technology with commercial decisions: which demand to serve and how to protect business results. During the half-year, total revenue grew by 10.7% and gross margin improved by 0.2 percentage points. The release presents those results alongside the development of the model and its technological priorities. For the second half of the year, the company plans to reinforce digital capabilities and integrate artificial intelligence throughout the value chain as part of its roadmap for continued development. ## Who's who and how to read the figures Tendam is the fashion group whose history begins with a haberdashery opened by the García-Quirós brothers on Madrid’s Calle Romanones in 1880\. It adopted the corporate name Tendam in 2018\. The release identifies Tendam Brands, S.A.U., and Jaume Miquel as chairman and chief executive. Cortefiel, Pedro del Hierro, Springfield and Women’secret are among its main labels. The five loyalty clubs identified by the group belong to Women’secret, Springfield, Cortefiel, Hoss Intropia and Fifty, operating within the wider multi-brand business described in its corporate model. The growth percentages compare the March–August fiscal half-year with the same period of the preceding financial year. The 63.4% figure is gross margin; its improvement is expressed in percentage points. Revenue, EBITDA and net profit are reported in millions of euros and represent different financial measures. Unique members count people within the club base; memberships reflect relationships with those programmes. Net-opening figures describe movement over six months, while counts of existing stores describe a network at a particular point. Keeping these definitions distinct makes it possible to relate digital growth to the multi-brand model while preserving the meaning of each measure. [Back to top ↑](#article-top) ## In this article ### Companies * [Tendam](https://elacelerador.es/en/company/tendam/) ### Sources and documents * [Tendam · resultados primer semestre fiscal 2026](https://www.tendam.es/tendam-registra-el-mejor-primer-semestre-de-su-historia-con-un-crecimiento-de-sus-ventas-totales-de-un-107-y-del-279-de-su-beneficio-neto/?utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es) · Tendam * [Revista Centros Comerciales · balance publicado el 14 de septiembre](https://revistacentroscomerciales.com/noticias/marcas/tendam-eleva-un-107-sus-ventas-y-suma-60-aperturas-netas-hasta-agosto-1/?utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es) · Revista Centros Comerciales * [Tendam · modelo multimarca y clubes](https://www.tendam.es/modelo-de-negocio/?utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es) · Tendam * [Tendam · historia y desarrollo digital](https://www.tendam.es/historia/?utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es) · Tendam * [Tendam · identidad jurídica propia](https://www.tendam.es/aviso-legal/?utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es) · Tendam * [Cortefiel · escaparate español](https://cortefiel.com/es/es?utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es) · Cortefiel * [Springfield · escaparate español](https://myspringfield.com/es/es?utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es) · Springfield * [Club Cortefiel & Pedro del Hierro · funcionamiento y preguntas frecuentes](https://cortefiel.com/es/es/club-cortefiel-pedro-del-hierro?utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es) · Cortefiel * [Springfield Club · funcionamiento y preguntas frecuentes](https://myspringfield.com/es/es/club-springfield?utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es) · Springfield * Google Trends Share [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Felacelerador.es%2Fen%2Facquisition%2Ftendam-digital-growth-loyalty-clubs-first-half-2026%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial&utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es "Share on LinkedIn") [ ](https://wa.me/?text=Tendam+grows+digital+revenue+by+20.7%25+through+a+multi-brand+model+and+five+loyalty+clubs+https%3A%2F%2Felacelerador.es%2Fen%2Facquisition%2Ftendam-digital-growth-loyalty-clubs-first-half-2026%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial&utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es "Share on WhatsApp") [ ](https://t.me/share/url?url=https%3A%2F%2Felacelerador.es%2Fen%2Facquisition%2Ftendam-digital-growth-loyalty-clubs-first-half-2026%2F%3Futm%5Fsource%3Dtelegram%26utm%5Fmedium%3Dsocial&text=Tendam+grows+digital+revenue+by+20.7%25+through+a+multi-brand+model+and+five+loyalty+clubs&utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es "Share on Telegram") [ ](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Felacelerador.es%2Fen%2Facquisition%2Ftendam-digital-growth-loyalty-clubs-first-half-2026%2F%3Futm%5Fsource%3Dfacebook%26utm%5Fmedium%3Dsocial&utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es "Share on Facebook") ![Portrait of Marian Vasile](https://elacelerador.es/images/variants/v1/marian-vasile-autor-acelerador-retrato-w320.webp) [LinkedIn](https://www.linkedin.com/in/nairamelisav/?utm%5Fsource=elacelerador.es&utm%5Fcampaign=elacelerador.es) About the author ## [Marian Vasile](https://elacelerador.es/en/author/marian-vasile/) Marian Vasile is a MarTech and growth professional. His work spans product marketing, SEO, paid advertising and deep online tracking, including behavioral analytics and attribution. ## Related articles [Acquisition](https://elacelerador.es/en/acquisition/) Analysis ### [Yatekomo turns its old recipe into a €100,000 digital challenge](https://elacelerador.es/en/acquisition/yatekomo-sayonara-old-recipe-digital-challenge/) [Marian Vasile](https://elacelerador.es/en/author/marian-vasile/) 18 October 2026 12 min [Acquisition](https://elacelerador.es/en/acquisition/) Analysis ### [Sercotel connects its autumn campaign with Rewards and direct bookings](https://elacelerador.es/en/acquisition/sercotel-autumn-rewards-direct-booking-campaign/) [Marian Vasile](https://elacelerador.es/en/author/marian-vasile/) 19 October 2026 13 min [Acquisition](https://elacelerador.es/en/acquisition/) Analysis ### [Llaollao links a frozen-yogurt cup to a Latin Grammy video entry](https://elacelerador.es/en/acquisition/llaollao-latin-grammy-cup-video-competition/) [Marian Vasile](https://elacelerador.es/en/author/marian-vasile/) 19 October 2026 13 min **In this report** 1. [Three growth rates describing related businesses](#article-section-three-growth-rates-describing-related-businesses) 2. [Five clubs and a crucial distinction between people and memberships](#article-section-five-clubs-and-a-crucial-distinction-between-people-and-memberships) 3. [More than 200 third-party brands broaden the catalogue](#article-section-more-than-200-third-party-brands-broaden-the-catalogue) 4. [Cortefiel’s search calendar](#article-section-cortefiel-s-search-calendar) 5. [Physical stores also work for the online channel](#article-section-physical-stores-also-work-for-the-online-channel) 6. [Demand, margin and artificial intelligence](#article-section-demand-margin-and-artificial-intelligence) 7. [Who's who and how to read the figures](#article-section-who-s-who-and-how-to-read-the-figures) [Download data (CSV)](https://elacelerador.es/en/download.csv?article=%2Fen%2Facquisition%2Ftendam-digital-growth-loyalty-clubs-first-half-2026%2F) [Back to top ↑](#article-top) ## Related articles [Acquisition](https://elacelerador.es/en/acquisition/) Analysis ### [Yatekomo turns its old recipe into a €100,000 digital challenge](https://elacelerador.es/en/acquisition/yatekomo-sayonara-old-recipe-digital-challenge/) [Marian Vasile](https://elacelerador.es/en/author/marian-vasile/) 18 October 2026 12 min [Acquisition](https://elacelerador.es/en/acquisition/) Analysis ### [Sercotel connects its autumn campaign with Rewards and direct bookings](https://elacelerador.es/en/acquisition/sercotel-autumn-rewards-direct-booking-campaign/) [Marian Vasile](https://elacelerador.es/en/author/marian-vasile/) 19 October 2026 13 min [Acquisition](https://elacelerador.es/en/acquisition/) Analysis ### [Llaollao links a frozen-yogurt cup to a Latin Grammy video entry](https://elacelerador.es/en/acquisition/llaollao-latin-grammy-cup-video-competition/) [Marian Vasile](https://elacelerador.es/en/author/marian-vasile/) 19 October 2026 13 min ```json {"@context":"https://schema.org","@graph":[{"@type":["Organization","NewsMediaOrganization"],"@id":"https://elacelerador.es/#publisher","name":"El Acelerador","url":"https://elacelerador.es/","description":"Marketing and growth hacking with examples from Spanish companies.","email":"pr@elacelerador.es","publishingPrinciples":"https://elacelerador.es/en/editorial-policy/","correctionsPolicy":"https://elacelerador.es/en/editorial-policy/","verificationFactCheckingPolicy":"https://elacelerador.es/en/editorial-policy/","masthead":"https://elacelerador.es/en/about/","ownershipFundingInfo":"https://elacelerador.es/en/about/","logo":{"@type":"ImageObject","url":"https://elacelerador.es/icon-512.png?v=20261017-stacked"}},{"@type":"Person","@id":"https://elacelerador.es/author/marian-vasile/#person","name":"Marian Vasile","url":"https://elacelerador.es/en/author/marian-vasile/","description":"Marian Vasile is a MarTech and growth professional. 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