Estrella Tendam


Logo Tendam





CEO Message

Dear Stakeholders,

This is our twelfth annual Sustainability Report, the result of our commitment to transparency.

We have worked on many initiatives but I would like to draw attention to a significant change that was planned and developed in 2017 but was finalised and presented publicly the following year: the corporate identity change.

TENDAM was born thanks to the track record, experience and growth of Grupo Cortefiel, a group that in its 138 years of history has given us 90 countries, 2,000 stores, more than 300 million customers throughout the world and the creation of leading global fashion brands.

Tendam, our new name, allows the company to evolve and gain value as a company that manages brands in the premium mass market segment.

This report summarises the most relevant operational indicators for the financial year from 1 March 2017 to 28 February 2018, as well as the main financial indicators and initiatives in terms of corporate responsibility that we identify ourselves with, whether it be in the environmental, social or educational areas where we work to build the future.

The activity of Grupo Cortefiel—now Tendam—in 2017 has been characterised by the consolidation of the measures in the strategic plan that were put in place at the end of the previous financial year and its positive results.

These measures were aimed at strategically repositioning the Cortefiel and Pedro del Hierro brands; improving the profitability of the store portfolio leading to efficiencies and increases in productivity; implementing processes to protect the profitability of the business; and accelerating digital growth in both sales and profitability but always from an omnichannel perspective.

This is the first whole financial year that reflects the effects of this strategic plan and the results show that the commitments that have been made are being fulfilled: all markets, channels and brands registered positive comparable sales and improved their profitability.

The company’s revenue reached 1,154.7 million euros, a figure that, despite the closure of unprofitable areas, is 2.4% higher than the previous financial year. Comparable sales increased by 4.8%.

On the other hand, recurring EBITDA grew by 48% reaching 170 million euros (versus 114.6 million in 2016/17) as a result of the combination of the increase in sales, the improvement in gross margin—which has been raised by 3.4 percentage points—and a decrease in operating expenses.

Digital business, one of the backbones of the five-year strategic plan, has experienced strong sales growth (+26%), also improving profitability and outperforming physical stores.

In addition, during the 2017/18 financial year, the Group's debt was considerably reduced, which allowed the period to be closed with a solid financial situation that, together with the performance of the business, ensures a future of confidence and growth.

CVC and PAI buying Permira’s shares and redoubling their faith in the company was key. This transaction, which was closed in June 2017, guarantees shareholding security and stability.

None of this would be possible without our customers who have once again renewed their trust in our brands Cortefiel, Pedro del Hierro, Springfield, Women'secret and Fifty. An example of this is that the clubs or loyalty programmes have continued to grow until topping 22 million members for all the brands.

At the management level, the renewal of the Management Committee, currently made up of the general management of the brands and key areas that support the Group, was consolidated.

Thus, the company closed the financial year with 1,988 points of sale in 90 countries. During the period, the opening of stores in Qatar, Spain, France, Ireland, Italy, Lebanon, Norway, Portugal, Russia and the Dominican Republic stands out, as well as the entry into new markets such as Norway, Cuba, India, Mauritius and Reunion Island.

I thank each one of the 10,000 employees who are part company for their effort and dedication which are key to achieving the successes I touched on.

A team of young, experienced and culturally diverse professionals, where there is a work environment that is based on effort in an atmosphere of respect with equal opportunities for all.

I am especially proud of each of the initiatives we have carried out in the area of corporate responsibility. Some have been undisputed successes and have received public recognition, but all are aimed at positively impacting and are aligned with the strategic and transversal nature of corporate responsibility in the company.

Our brands being in touch with our customers and employees’ social reality has led to strengthening social projects such as Cosas que Sí Importan (Things That Do Matter), through the post-surgery bra, Women’secret's line of underwear and swimwear for women who have had breast cancer. Another example of the success of the initiatives led by employees is the 'Proyecto Involucrados' (‘Get Involved’ project= that is possible thanks to the commitment and volunteer work of our employees and social entities. In its 13 years of life, it has become the icon of our social action, financing 50 projects of 40 NGOs with over €1,300,000.

In the environmental area, we focus on knowing and managing the impacts we make, which has led us to implement measures for energy efficiency, waste management and responsible use of resources.

One of the main challenges that we face as an industry in the fashion sector is the protection of human rights throughout the entire supply chain or the safety and sanitation of garments.  Continuing its transparency policy when selecting international suppliers, Tendam strengthens its commitment through its partnership with amfori, the main global business association dedicated to open and sustainable trade, thus reinforcing its ongoing commitment to a more sustainable and responsible supply chain through its social programme BSCI and environmental programme BEPI.

In the area of education, we collaborate with and support the most prestigious universities with the aim of professionalising the sector to foster research and development in the fashion industry, also acting as a driving force for the incorporation of young talent into the labour market.

The company also has other collaborations through training agreements with 200 regulated educational training institutions for employment, public institutions and social entities with which we seek to promote the inclusion of young people and groups at risk of exclusion in the labour market.

We are a company that is committed to promoting innovative projects that drive the sector, and, as ISEM employers through the ATELIER project by ISEM, we seek to combine fashion and technology as start-up accelerators, allowing them to test their products to fine-tune them before launching them on the market.

Another one of Tendam's great initiatives to foster innovation and university/business cooperation is its partnership with the Universidad Politécnica de Madrid through the Centro Superior de Diseño de Moda to search for new solutions in the area of fashion and sustainability through sustainable design.

A new corporate brand, a plan that is paying off, a solid financial situation, a committed and motivated team and a commitment to society, education and innovation are the basis for the success story that those of us who are part of Tendam are building. I encourage all of them to continue like this.

This is a great company that, in a challenging and unpredictable market environment, will be able to achieve each goal that is set.

Jaume Miquel




Key facts

Management and Business


Who we are




of sale




Turnover in
Million of Euros




operated stores






In April 2018, Grupo Cortefiel changed its name to Tendam as part of its strategic plan launched in 2016. The creation of Tendam is backed by Grupo Cortefiel’s track record, experience and growth during its almost 140 years of history.

Tendam is one of the leading European companies in the fashion sector and specialises in brand management in the premium mass market segment.

Its brands: Cortefiel, Pedro del Hierro, Springfield, Women'secret and Fifty exponentially multiply the scope and expansion of an innovative company with an international vision. It distributes its collections at nearly 2,000 points of sale located on four continents.

Each of the brands that comprise Tendam targets a specific audience and has its own creative, design, sales and management teams. Administrative, financial, technological, expansion, supply, operations and human resources functions converge at the parent company’s central services, providing support to each of the brands. This structure facilitates the efficient management of a multi-format business model.

Madrid is home to its headquarters but it has offices in Barcelona and some European cities to manage its network of corporate stores. To manage its global supply chain, the company also has international offices in Hong Kong and India.

Its main shareholders are the private equity firms CVC and PAI.

Data as of February 28, 2018.

Evolution of points of sale



Group's Brands

The sum that multiplies




Points of sale



Online Markets
Spain 141 7 320 281 50 799
Albania 1 - 1 1 - 3
Andorra 2 - 4 2 - 8
Armenia - - - 1 - 1
Belarus - - 2 6 - 8
Belgium - - 17 13 - 30
Bosnia 1 - 7 5 1 14
Bulgaria 1 - 2 1 - 4
Croatia - - 8 8 - 16
Cyprus 11 - 14 5 - 30
Czech Republic - - 2 1 - 3
Estonia 2 - 3 5 - 10
France - - 58 5 - 63
Germany - - 9 - - 9
Gibraltar - - 1 1 - 2
Greece - - 1 5 - 6
Hungary - - 11 9 - 20
Iceland 1 - 1 1 - 3
Ireland 2 - 12 - - 14
Italy - - 53 1 - 54
Latvia 2 - 1 2 - 5
Lithuania 1 - 2 1 - 4
Luxembourg - - 6 1 - 7
Macedonia - - 4 1 - 5
Malta 1 - 3 3 - 7
Montenegro 1 - 1 2 - 4
Norway - - 1 1 - 2
Portugal 23 - 63 50 10 146
Romania - - 1 3 - 4
Russia 1 1 29 50 - 81
Serbia 1 - 16 17 1 35
Slovakia - - 2 1 - 3
Slovenia - - 3 2 - 5
Ukraine - 3 7 10 - 20
Total Directly Operated Stores + Franchise 192 11 665 495 62 1425
Bermudas - - - 1 1
Bolivia 1 1 2 2 6
Chile 5 - - 14 19
Colombia - - - 10 10
Costa Rica 1 - 4 4 9
Cuba - - 1 1 2
Curaçao 1 - 1 1 3
Dominican Republic - - 3 3 6
Ecuador - - 18 9 27
Guatemala - 1 1 1 3
Mexico 12 - 47 45 104
Panama - - - 1 1
Paraguay - - 1 2 3
Peru 10 - 14 2 26
Uruguay - - 2 - 2
Venezuela 3 - 5 6 14
Total Directly Operated Stores + Franchise 34 2 99 101 236
Angola 7 7 7 21
Algeria 1 1 4 6
Arab Emirates - 19 11 30
Bahrain - - 1 1
Egypt 2 7 6 15
Ghana - 1 1 2
Iran 3 12 6 21
Israel - 18 - 18
Jordan 4 4 - 8
Kuwait 2 3 7 12
Lebanon 6 12 6 24
Libya - 1 - 1
Marocco - - 2 2
Maurice - 1 3 4
Oman - - 2 2
Qatar 2 3 5 10
Reunion Island - - 2 2
Saudi Arabia 9 11 37 57
Syria 1 - 2 3
South Africa - - 2 2
Tanzania 2 2 2 6
Tunez - 3 2 5
Total Directly Operated Stores + Franchise 39 105 108 252
Azerbaijan - - - 3 3
Birmany - - 4 1 5
China - - 13 - 13
India - - 3 3 6
Indonesia - - - 2 2
Kazakhstan 1 - 5 - 6
Pakistan 3 4 - 2 9
Thailand - - 4 3 7
The Philippines 2 8 10 4 24
Total Directly Operated Stores + Franchise 6 12 39 18 75
China *


Czech Republic



Malta *



Russia *



The Netherlands
United Kingdom
* Online sales through third parties.


Financial Information

Developments in activity that strengthen Tendam's strategy

2017 was a very positive financial year that allowed the company’s strategy to be strengthened thanks to the growth trend in the markets where Tendam operates.

During this financial year, sales and profitability in international business have improved and we have experienced strong growth in digital business, outperforming physical stores. This digital business has increased by 26%, amounting to 6% of Tendam’s total sales.

The positive prospects for the sector, the achievement of the company's strategy and the closure of less profitable stores have helped to increase revenues by more than 2% compared to last year, with significant growth in the gross margin (+8%) and recurring EBITDA (+48%), standing at 170 million euros.

The overall improvement of the financial data has been joined by an increase in the number of stores that are spread out across 90 countries;1,180 are corporate stores, 692 are franchises and 116 are department store corners. During 2017, new points of sales have been opened in Qatar, Cuba, Slovenia, Spain, France, India, Ireland, Italy, Lebanon, Norway, Portugal, Russia and the Dominican Republic, among others.

Brands’ developments

The improvement in the management of the company has helped to each of its brands to achieve an overall increase in sales.

Women'secret continues to be the leading brand in its sector thanks to its upward trend in sales and the improvement of its contribution margin. Springfield has reoriented its strategy in order to increase its commitment to its target audience. Cortefiel and Pedro del Hierro have maintained a level of sales similar to the previous year although they have successfully implemented a series of repositioning measures that have significantly improved their profitability.

Optimistic future prospects

According to analysts, the Spanish economic situation will continue developing positively, following the trend of the last two years with improvements in consumption levels, an increase in credit levels, a decrease in unemployment and improvement in hiring. This same trend is expected in Portugal, although some slowdown is expected in the rest of Europe.

Thanks to the transformation process carried out during the last two financial years, the company has a solid operating and financial position that will allow it to take on the future challenges it faces: internationalisation, growth and digitalisation.

To do so, Tendam has set the following goals for the 2018/19 financial year:

  • To strengthen its brands through positioning and improving operations, strengthening the concept of brand versus chain.
  • To develop loyalty clubs.
  • To maximise access to our products through the online market and the expansion of the omnichannel approach to international business.
  • To guarantee excellence in operating efficiency with the implementation of the ‘go to market’ model.
  • To boost the awareness and image of Tendam.

On the other hand, new processes will be established to ensure the alignment of all the organisation’s departments with criteria of profitability and efficiency. The criteria of financial efficiency and commercial and operational effectiveness sought by the shareholders and the management team, together with the cost containment policy and cost protection, will make it possible to take advantage of this current stage of economic recovery in the main markets where Tendam operates. The only costs are expected to be related to the international expansion processes, strengthening the online business and marketing and advertising.

Economic value generated and distributed
Millions of euros
Economic Value Generated 1,154.7
Economic Value Distributed 989.64
- Payments made to suppliers 764.39
- Employee salaries 223.85
- Investments in social action 0.13
- Payments made to Public Administration 1.27
Economic value retained 165.06
2016 2017 Var %
Non financial fixed assets 299,48 273.99 -8,51
Financial fixed assets 103,77 20,89 -79,87
Stock 157,62 148,21 -5,97
Customers 22,62 22,55 -0,27
Commercial suppliers 252,62 206,40 -18,29
Total discontinued operations income 1.128,12 1.154,66 2,35
Gross margin / Income 57,8% 61,20% 5,88
Operating profit 11,87 113,50 856,43
Recurring EBITDA 114,70 170,0 48,22
Stock / Sales 14,17% 12,93% -8,75
Customers / Sales 2,03% 1,96% -3,45
Suppliers / Sales 22,70% 18,00% -20,70

Data in millions of Euros as of February 28, 2018.

Main figures

Data in thousands of Euros as of February 28, 2018.

Chain income

Data as of February 28, 2018.

Chain income

Data in millions of Euros as of February 28, 2018.

Distribution of expenditures

Data as of February 28, 2018.

Remuneration of employees

Fully Consolidated Companies

Group Company Location Percentage of Ownership (a) Business Activity Auditor
Eurofiel Confección, S.A.U. Madrid 100 Distribution and central buying entity Deloitte
Cortefiel Services, S.A. Madrid 100 Services Deloitte
Serman 92, S.L. Madrid 100 Retailing Deloitte
Fashion Auction, S.L.U. Madrid 100 Holding company Deloitte
Cortefiel France, S.A.S. Paris 100 Holding company Deloitte
Springfield France, S.A.S. Paris 100 Retailing Deloitte
Women´s Secret France, S.A.S. Paris 100 Retailing Deloitte
SPF Germany GmbH Düsseldorf 100 Retailing Unaudited
Bizarro e Milho, S.A. Lisbom 100 Retailing Deloitte
Confemo – Confeccoes e Moda de Espanha, S.A. Lisbom 100 Holding company and Retailing Deloitte
Confespanha, S.A. Lisbom 100 Retailing Deloitte
Cortefiel Netherlands, NV. Rotterdam 100 Retailing Unaudited
Quiral Belgique, S.A. Brussels 100 Retailing Deloitte
Quiral Luxembourg, S.A. Luxembourg 99,99 Retailing Unaudited
Cortefiel Commercial, S.A. Fribourg 100 Logistics centre and sales to franchises Deloitte
Springfield Hungary Trading Kft. Székesfehérvár 100 Retailing Deloitte
Women’s Secret Magyarország, Lt. Székesfehérvár 100 Retailing Deloitte
Springfield Handelsgesellschaft MbH. Vienna 100 Retailing Unaudited
SPF Polska Sp. Z o. o. Warsaw 100 Retailing Deloitte
Cortefiel Polska Sp. Z o. o. Warsaw 100 Holding company Unaudited
Cortix D.o.o. Beograd Belgrado 100 Retailing Deloitte
Cortix D.o.o. Sarajevo Sarajevo 100 Retailing Deloitte
Cortix BL D.o.o. Sarajevo 100 Retailing Unaudited
CRTF Moda D.o.o. Zagreb 100 Retailing Unaudited
Cortix México SAPI de CV (b) Guadalajara 100 Holding company Deloitte
Eurofiel México SA de CV (b) Guadalajara 100 Distribution and central buying entity Deloitte
Modafiel de México SA de CV (b) Guadalajara 94,57 Retailing Deloitte
LLC Fashion Retail Group (b) Moscow 100 Retailing Deloitte
Cortix Bulgaria EOOD (b) Sofia 100 Retailing Unaudited
Cortix D.o.o Podgorica (b) Podgorica 100 Retailing Unaudited

Companies consolidated by the method of positioning in equivalence

Group Company Location Percentage of Ownership (a) Business Activity Auditor
Scarfil Retail Management Company Limited Hong-Kong 25 Retailing Unaudited
Anekis S.A. Madrid 24,75 Marketing Deloitte
Multifiel Madrid 50 No activity Unaudited

(a) Effective direct or indirect ownership through consolidated companies.
(b) These companies' reporting period ends on 31 December.











of sale




Turnover in
Million of Euros


Of the Tendam
Total Turnover



Cortefiel was the first brand to be created by Tendam. From its beginnings in 1945, the brand is based on values such as the elegance, quality, comfort and functionality of its garments and proudly represents its textile tradition and its experience in making clothing.

Decade after decade, we have become an established brand and a leader in fashion that has been adapting, revamping our stores and collections to provide styles for every moment. Its experience and customer service has led it to gain the trust and loyalty of its shoppers. Today, they are part of a CLUB with over six million members.

The natural elegance that its garments transmit and its wide variety of products have led it to become an established brand and a leader in fashion which has been adapting until reaching over 300 points of sale in more than 40 countries, both chain stores and franchises.

Data as of February 28, 2018.

Cortefiel - Development of points of sale

Data as of February 28, 2018.

Cortefiel - Points of sale by country

Data as of February 28, 2018.

Cortefiel - Points of sale by country



Pedro del Hierro




of sale






Cortefiel Store

(PdH Man&Woman)


Stand Alone

(PdH Woman)

Pedro del Hierro is a Spanish fashion brand that has a long tradition in haute couture in the country. Created in 1974 by the designer from Madrid who shares the same name, it exclusively joined Cortefiel in 1989 and has been owned by the Group since 1992.

True to its values of style, elegance and quality, it carefully combines the colour and delicacy of fabrics with exclusive and unique designs, offering customers affordable luxury.

The concept and the personality of the brand are based on values such as tradition, culture, architecture and art, but above all, the designer’s legacy is maintained in its DNA. A symbol of Spanish artisanal heritage.

Pedro del Hierro is an exclusive brand for beauty lovers.

“My designs will always be a form of expression that will help seek the best qualities of oneself”. Pedro del Hierro

Independent PdH Woman Stores Directly operated stores Franchises TOTAL
Spain 7 - 7
Bolivia - 1 1
Estonia - - -
Guatemala - 1 1
Lithuania - - -
Pakistan - 4 4
Philippines - 8 8
Ukraine - 3 3
Total 7 18 25
Corners PdH in Cortefiel Stores Directly operated stores Franchises TOTAL
Spain 141 - 141
Albania - 1 1
Angola - 7 7
Andorra - 2 2
Argelia - 1 1
Belgium - - -
Bolivia - 1 1
Bosnia 1 - 1
Bulgaria 1 - 1
Chile - 5 5
Cyprus - 11 11
Costa Rica - 1 1
Curaçao - 1 1
Dominican Republic - - -
Ecuador - - -
Egypt - 2 2
Estonia - 2 2
Georgia - - -
Iceland - 1 1
Iran - 3 3
Jordan - 4 4
Kazakhstan - 1 1
Kuwait - 2 2
Latvia - 2 2
Lebanon - 6 6
Lithuania - 1 1
Malta - 1 1
Mexico - 12 12
Montenegro 1 - 1
Pakistan - 3 3
Peru - 10 10
Philippines - 2 2
Portugal 23 - 23
Qatar - 2 2
Rusia - 1 1
Saudi Arabia - 9 9
Serbia 1 - 1
Siria - 1 1
Tanzania - 2 2
Venezuela - 3 3
Total 168 101 271
Independent PdH Woman Stores
Corners PdH in Cortefiel Stores
175 121 296

Data as of February 28, 2018.

Pedro del Hierro - Points of sale by country

Data as of February 28, 2018.

Pedro del Hierro - Points of sale by country







of sale




Turnover in
Million of Euros


Of the Tendam
Total Turnover



With a European spirit, Springfield was born in 1988 as a casualwear brand offering an urban style with a modern appeal for men and women around the world between 25 and 35 years old.

A brand for real people with attitude in their daily lives, which is strongly committed to a new generation of demanding consumers to whom it offers an attractive approach to new trends, both with its more casual side and through its well-known daily smart, a concept used each season to approach a more formal style with which to meet the needs of the brand’s customers without losing the Springfield DNA.

The easy to wear collection, competitive prices and very affordable fashion are the key concepts that drive the rapid growth and expansion of the brand. As a result, in 1993 Springfield went international by opening its first store in Portugal. In 2002, the Springfield Club was born which is currently present in Spain, Portugal, Belgium and France with more than ten million members and in 2006, the brand’s women’s line was launched.

Currently, Springfield is present in over 70 countries with a commercial network of more than 900 points of sale around the world through chain stores and franchises as well as through its online sales channel since 2012.

Data as of February 28, 2018.

Springfield - Development of points of sale

Data as of February 28, 2018.

Springfield - Points of sale by country

Data as of February 28, 2018.

Springfield - Points of sale by country







of sale




Turnover in
Million of Euros


Of the Tendam
Total Turnover



Women’secret, as a specialist in everything feminine, is a brand created by and for women, the leading underwear, sleepwear and swimwear brand geared towards 25- to 45-year-old women who want to feel beautiful, comfortable and sexy at any time. It was created in 1993 with the firm vision of becoming the leader and reference within the corsetry and lingerie industry. In 2001, it started its international expansion. Today, it is present in over 70 countries and at almost 700 points of sale.

Data as of February 28, 2018.

Women'secret - Development of points of sale

Data as of February 28, 2018.

Women'secret - Points of sale by country

Data as of February 28, 2018.

Women'secret - Points of sale by country







of sale





A Tendam brand chain with over 67 points of sale in Spain, Portugal, Bosnia and Serbia plus an online store with Cortefiel, Pedro del Hierro, Springfield and Women’secret ‘outlet’ products.

It has its own brand, MILANO, which is brimming with its own DNA with urban fit, trendy and modern garments. Fifty has great discounts without giving up the best design and quality.

The first multibrand outlet specialised in fashion.

Since 1997, reinvention, innovation and effectiveness have led the chain to an international expansion with a high level of recognition. Like this, it has fuelled ‘smart shopping’, a key pillar of our successful business system, offering a unique omnichannel shopping experience in the outlet sector.

Data as of February 28, 2018.

Evolution of points of sale

Data as of February 28, 2018.

Puntos de venta por país

Data as of February 28, 2018.

Puntos de venta por país


Responsible commitment

Responsible commitment


Management Approach

With the aim of maximising its positive impact and integrating responsible behaviour into its business management and income statement, Tendam carries out all its activities according to its Corporate Social Responsibility model. Like this, it works to continuously manage its supply chain in a responsible way and to maintain a close relationship with its customers; a work environment that fosters attracting and retaining talent; and environmentally friendly behaviour and to continue actively participating in contributing to the economic and social development in the countries where it is present.

This is particularly relevant in a sector as full of challenges and opportunities as the fashion industry.


The company works to keep a strong financial position which allows its shareholders, customers and suppliers as well as financial institutions to have confidence in it. In turn, this will allow it to create growth opportunities.


One of Tendam's principles of action is to minimise the environmental impact of its activities. To fulfil these commitments, the company focuses on the energy efficiency of its facilities and logistics as well as fostering a circular economy.


The relationship between the company and its employees, one of its main assets, is defined by its Internal Code of Conduct and the various collective agreements that have been established. In addition, it works continuously on developing initiatives that boost their professional and personal development.

Human Rights

Given the importance of Human and Labour rights strategies in the textile sector, Tendam’s External Code of Conduct has become a key factor in eliminating possible violations of these rights. It establishes guidelines for its suppliers and applies the Group’s Corporate Social Responsibility strategy to the entire supply chain.


Tendam's Internal Code of Conduct reflects its corporate values and its commitment to integrity, ethics and responsibility when acting and making decisions at the company.

In order to maximise its impact on society, and thanks to the influence the company has through its points of sales and its customers, it has made a commitment to social action. Employee and customer involvement has been key to achieving the objectives that have been set.


Communication with customers is based on transparency and the ethical principles that guide the company’s behaviour. Additionally, Tendam adapts to the requirements of international and national regulations of the different countries regarding labelling and information on its products.

To ensure the safety of its customers, the company subjects its garments to the strictest quality controls and verifies that no substances that are harmful to their health or the environment are present.



Materiality Analysis

Principles that determine the content of the report:

1 |


Following the Materiality Principle defined by the Global Reporting Initiative (GRI), the information presented in this 2017 sustainability report is intended to cover the most significant aspects of Tendam’s activities, aiming to provide a faithful account of its actions in terms of finances, social activities, environmental matters and corporate governance.

2 |

Participation of stakeholders

The methodology followed to identify relevant issues both for the company and its stakeholders is based on quantitative and qualitative analysis, from both an internal and external perspective.

3 |

Sustainability context

This Materiality Analysis has allowed us not only to focus the content of this report so that it gives a transparent and satisfactory response to the expectations of the different internal and external audiences of Tendam but also to obtain detailed information that can help us in the future to improve the internal management of issues identified as relevant.

4 |


This report covers all Tendam's activities that are managed at the corporate level for the different brands and structured businesses. In case of any content limitations, more details are provided either in the corresponding section of the report or in the GRI index.

The results obtained by combining the perspective of those "whose opinion counts" let us see "what really matters".

Matrix of relevant matters




Sustainable Development

At Tendam, we are committed to sustainable development throughout our entire value chain. Therefore, we take action to contribute to the achievement of the UN Sustainable Development Goals (SDG).


Corporate governance

Corporate governance

03Corporate governance

Descripción del Consejo de Administración

In a sector as complex as textiles, Grupo Cortefiel has tried to maximise the positive impact of its activities from day one by developing and maintaining a responsible approach to supply chain management, a close relationship with customers, and a pleasant work environment, as well as minimising its environmental footprint and engaging actively with, and on behalf of, society.

Grupo Cortefiel’s CSR model is proactive, consistent and tailored to its needs as well as those of its stakeholders.

Management Approach

Our approach to Social Responsibility consists of integrating responsible behaviour into the management and income statement of the business.

The fashion industry is full of challenges and opportunities to align management objectives with individual development, respect for the environment and the company’s growth objectives.


From a financial standpoint, we aim to build a strong position and to foster the confidence of our shareholders, customers, suppliers as well as the financial community in order to generate growth opportunities.


We care about the environment and therefore consider all environmental risks and opportunities arising at each stage of the product life cycle. We have worked on the design and implementation of projects in policy areas such as energy saving measures, minimisation of transportation resources as well as reduction of unnecessary materials and consumption.


The Internal Code of Conduct, Performance Standards and the various collective agreements in place represent the basic principles of our Company / employee relations.

Human capital is one of the company’s main assets, so we work on initiatives that promote professional and personal development.

Human Rights

The textile sector is a key player in international Human and Labour Rights strategies. Our company has a major responsibility in this area.

Our External Code of Conduct provides the foundation for our relationships with the people we work with. This enables us to apply its principles throughout the supply chain.


The Code of Conduct is the framework that articulates our commitment to corporate values and business integrity. It also lays the foundation for ethical behaviour and inspires correct and responsible decision-making.

Our commitment to social action has also developed in a highly positive direction. Our employees and customers are becoming increasingly involved in the social projects in which we collaborate. We can reach a wide section of the community through our points of sale and customers and this exposure acts as a driving force for change within society.


All customer communications are based on transparency and ethical principles. Information regarding garments is adapted to the demands of international standards and the various countries in which they are sold.

In order to guarantee the safety of our customers, all our garments are subject to the strictest quality controls as well as tests to verify that no substances that are harmful to health or the environment are present.


03Corporate governance


Shareholders’ meeting

Tendam’s main shareholders are the private equity firms CVC and PAI, which have shown the company support in 2017. This support has involved approving the strategic plan that the company launched in 2016.

General Shareholders' Meetings are held to assess the management of the company and to approve the annual accounts. Extraordinary general meetings are held to make special decisions in accordance with the articles of association. This financial year, an extraordinary general meeting was held on 17 May 2018 to approve the corporate name change from Cortefiel, SA to Tendam Retail, SA.

Management Committee

The Board of Directors is the highest decision-making body with decisive powers over matters related to the management of the company.

One of its main priorities is to protect the interests of the shareholders and to define the policies and approve the company's strategy.

It has the support of two committees with different functions in terms of governance. The Audit and Risk Committee is responsible for the supervision of financial information, compliance with corporate policies and identifying, managing and controlling the company's risks. The ethics committee ensures the code of conduct is complied with and that the business is managed responsibly.

Board of Directors

The Management Committee defines the operational strategies of the different chains and corporate units, focusing on the implementation and results.

Remuneration Policies

In accordance with the articles of association, board members do not receive any remuneration for their posts as directors. The CEO receives compensation for his executive functions at the company and the president receives professional fees for the professional services provided. Senior Management receives variable remuneration based on achieving objectives.

Management of conflicts of interest

The directors must inform the Board of Directors and the General Shareholders' Meeting of any conflict, direct or indirect, that they may have with the company’s interests. In accordance with the procedure that is in place, the affected party will refrain from intervening in such agreements.

In addition, the administrators must also disclose indirect or direct equity interest they or related people hold in a company and also report their positions and the functions they carry out.


03Corporate governance

Corporate Ethics

Code of Conduct







Tendam firmly believes that a company’s success is not measured exclusively by its financial results and achievements; it is also measured by how it acts and behaves in an ethical and responsible way, in accordance with the laws.

To support this commitment, the Internal Code of Conduct outlines the company’s values and incorporates the company’s ethical principals in terms of performance based on the pillars of transparency, responsibility and supervision.

The Internal Code of Conduct provides employees clear guidelines on the ethical values, commitments and best practices defined by the company. This Code describes the steps to take to deal with conflicts of interest, corruption, fraud, privacy and customer and supplier relations, among others. These commitments are made by all employees.

These commitments are possible thanks to a training programme that is completed with training in criminal compliance for members of the Management Committee, directors and middle managers.

Tendam extends these values to its supply chain through its External Code of Conduct, which guarantees that all its suppliers and franchisees work based on the principles of transparency, ethics and responsibility.

Ethics hotline





The Ethics Committee, made up of the Human Resources, Internal Audit and Legal Department, ensures compliance with the Code of Conduct and is responsible for implementing best practices so they are disseminated and for monitoring and resolving conflicts that may arise

The company has an ethics hotline service which can be accessed both from the intranet and on the company's website. It allows any employee or third party to report possible irregular or unethical behaviour or behaviour that goes against the principles set out in the Code of Conduct.

To maintain the independence, transparency and security of the process, the ethics hotline is managed externally, ensuring the confidentiality of any person who uses the tool.

In 2017, the internal website of the ethics hotline received 994 visits and 38 messages were received. 95% were processed and investigated for possible non-compliance with the company’s ethical principles. This means a ratio of 0.0035 messages per employee.

In addition to communication and training on the Code of Conduct, other measures are being implemented to fight against corruption such as conducting internal audit investigations and analysing and identifying fraud risks in the sales network.


03Corporate governance

Risk management

Risk management is one of the basic pillars for creating the company's value, above all with regard to achieving its operational and strategic objectives.

Through the Audit and Risk Committee, the most important risks and opportunities are monitored and analysed. The objectives of the company’s risk management system are to:

  • Determine the procedures for the identification, approval, control and reporting of the risks that it faces.

  • Support management to define the company's risk appetite.

  • Develop methodologies to measure the identified risks.

  • Establish corporate policies and procedures to monitor and minimise risks and maximise opportunities.

Depending on the nature of the risks, they are classified:

1 |

Strategic and business risks

Growth and international expansion are the keys to the business. Risk analysis in each country is especially important when defining the growth strategy.

2 |

Operational and business development risks

Analysing in detail the sector and the areas where it operates allows the company to anticipate possible changes in the market, minimising impacts and developing new opportunities.

3 |

Reputational and compliance risks

On the one hand, the company analyses the risks associated with the laws of each of the countries where it operates. On the other hand, it takes all the risks associated with its supply chain into consideration.

4 |

Financial risks

Control mechanisms are established based on the company's financial structure and market trends. Among the financial risks, the most significant ones have to do with currency exchange, liquidity, interest risks, and credit risks. The most effective measures to manage them include external representation rules, approval of investments and controls of the financial system.

To manage the different risks, the company has established a set of rules in order to have a solid control system. Some examples are the controls for approving investments, the use of information and accounting systems, compliance with the Code of Conduct, physical security, occupational risk prevention and expenditure control.


03Corporate governance

Communication with stakeholders

Tendam is committed to a responsible and sustainable business model, where listening to stakeholders allows it to take advantage of the opportunities provided by the market.

The company provides its main stakeholders several communication channels which encourage participation and involvement and which promote a framework of relationships based on transparency, continuous improvement and smooth and constant dialogue.

These communication channels are managed by the relevant areas of the company according to each stakeholder. Through a consultative process, different actions and work groups are managed including customers, employees, unions, suppliers, social entities, etc. as well as individualised meetings with different organisations on relevant topics.

This continuous process of dialogue allows it to identify its expectations, analyse them and integrate them into the management of the business.


Corporate website Relationship with investors Reporting results Press releases

Financial and economic stability Corporate governance Sustainability and Corporate Social Responsibility Transparency


Corporate intranet Ethics hotline Work councils Social networks

Protection of Human Rights Quality of employment Social benefits and work-life balance Safety, health and prevention of occupational risks Training and professional development


Corporate website Brand websites Ethics hotline Sales channels Customer club Customer service Social networks

Satisfactory shopping experience Quality of the products and services provided Customer service and loyalty Adaptation to customers’ interests Protection of health through toxic-free garments Protection of the security and privacy of data


Supplier portal Ethics hotline Corporate website Meetings and periodic visits

Respect for the Human Rights included in the external code of conduct. Commitment to sustainability and innovation Stability in business relationships Fair hiring and payment agreements

Institutions and Society

Corporate website Social networks Agreements and collaborations Participation in forums and associations

Innovation Promoting employment Diversity and equality Responsible use of resources Energy efficiency Commitment to ecodesign and the use of sustainable raw materials.

Our customers

04Our customers

Customer experience and omnicanality

The improvement of the customers’ shopping experience means committing to an omnichannel experience which involves the complete integration of physical points of sale and online channels. Customers are more and more connected and wish to be able to make their purchases quickly and efficiently, seeking greater flexibility.

Payment with MOBILE on all our brands in Spain

The stores are a means to connect with customers and transmit the brands’ values through their design and the creation of unique spaces. Our store staff is specially trained to provide excellent service to our customers every day.

All BRANDS operate 100% in 30 countries

Tendam is committed to an omnichannel company culture, ensuring a high level of quality of the online sales service. Since 2012, all of the company's brands operate 100% online in some 30 countries. Since then, sales through online channels have shown steady growth that has increased considerably for all of the brands in recent years.

In 2017, online sales on the company’s e-commerce platforms have grown by 26% and represent 5% of the total turnover, with sales exceeding fifty million euros.

There has been progress in the integration of the shopping process at our physical and online stores throughout this last year, offering the possibility of paying with a mobile phone at all our brands in Spain. Delivery options have been improved, whether it be direct home delivery or through collection at the store.

In this area, new projects such as click shopping have been implemented. If customers do not find the product in the store, they order it directly online to receive it at their home.

Work continues on digitalising in-store operations more in order to improve the shopping experience with projects such as kiosks that connect the online and offline environment. From the store, customers can access the online store, discover the products that are most adapted to their profile and pay on the spot simply by holding their bank card near it.


growth online




04Our customers

Multichannel communication

Transparent communication based on ethical and responsible behaviour is key to providing excellent customer service that responds to the needs of Tendam's customers.

The company has put measures in place to communicate with its customers in a respectful and clear way, ensuring that it complies with current laws regarding consumer and data protection and with the international and national requirements and standards of the countries where the garments are sold.

All advertising mediums used when dealing with customers such as promotions, advertising, newsletters, etc., are supervised by the legal department to ensure compliance with the laws in each of the countries where it operates.

Tendam provides customers with all the information that may be important through its corporate website and each of its brands’ websites.

The loyalty clubs

The loyalty clubs of each of the brands are a very important asset for the company. Tendam currently has a total of 22 Million members in the Cortefiel, Springfield and Women'secret customer clubs.

22 Million members distributed in the clubs of Cortefiel, Springfield and Women'secret

Their mission is to create a solid and long-lasting relationship with their members, based on providing exclusive content and benefits. Through two-way communication that is reinforced with messages, emails, websites and social networks, Tendam receives feedback on its products and customers’ needs. With the feedback, it works on improving the customisation of what it provides customers.

Customer Service

To guarantee top-quality service and to adapt to customers’ needs, it has a Customer Service Department (CSD) that is fully accessible and multichannel via telephone, social networks, email, post and the company’s website. The Customer Service Department is structured to provide a comprehensive and customised response to all its users, providing timely and effective solutions.

Tendam has a Customer Service (SAC) completely accessible and multichannel

In 2017, Tendam carried out a total of 616,928 operations through the different channels provided to its customers, with a 95.12% level of service in Customer Service. The company takes the customers’ opinions strongly into consideration. That is why it strives to handle all their comments satisfactorily; in 2017, only 0.38% were made due to complaints.

Tendam analyses all the opinions and suggestions it receives. This leads to continuous improvement which allows it to provide top-quality products and services adapted to its customers’ preferences.


Million views
of Tendam




Incoming calls


Outgoing calls





627,937 Operations

Data as of February 28, 2018.

Customer service


04Our customers

Information security and data protection

We live in a connected world where the Internet and information technologies are present in our daily lives. That is why Tendam has been working for years to improve its infrastructures with a clear commitment to protecting its main assets: our customers’ data and data related to the business.

More than 100 employees trained in Data Protection

This commitment involves developing policies, guidelines and procedures, not only in the technological area but also in the cultural one. They are implemented by each member of the company through appropriate awareness-raising schemes that are appropriate for each profile.

In 2017, continuing the work that begun years ago with the approval of the Declaration on the Privacy Programme, the company has defined a privacy policy and an internal procedure fully adapted to the needs and requirements of the new European General Data Protection Regulation, as well as national and international regulations on privacy and security in each of the countries where it operates. In accordance with the regulatory requirements, Tendam has formally appointed a Data Protection Officer (DPO) for all the Group's brands.

As part of the project to adapt to the new regulation, Tendam has designed a privacy network that is responsible for identifying possible security breaches and taking protection and prevention measures. This network is made up of many of the company's departments, from specific areas such as IT, Security and Systems and Security to others focused on communication with its stakeholders such as Marketing, Sales, Sourcing, Communication, etc.

Online information pill for the sales network

Another one of the pillars of this adaptation project has been the knowledge of the new requirements that the entire company is required to know. Courses on data protection have been taught, training more than 100 employees at the headquarters, and a knowledge pill has been implemented for the entire sales network.


04Our customers

Product Safety

9 incidents

Data as of February 28, 2018.

Chemical incidents are accepted only if: (1) is changed or reprocessed material failed; (2) the test is repeated and the result is consistent and (3) Second repeat test (random sample).

Chemical incidents

Arylamines (Azo dye)
Chromium VI
Carcinogenic dyes (EG)
SCCP (Chlorinated paraffins)
PAH (Polycyclic aromatic hydrocarbons)
Dimethyl fumarate Only silica gel

Data as of February 28, 2018.

Chemical testing of garments

One of the pillars that the great quality of Tendam brands’ garments is based on is strict product control which ensures compliance with required quality standards and levels.

From the careful selection of raw materials and the approval of suppliers it will work with to the controls prior to launching the finished garment, the manufacturing process is rigorously monitored during each of the stages until each garment reaches the customer. This manufacturing process is subject to exhaustive quality controls that guarantee customers’ safety and compliance with the specific legal requirements of each country where the garments are sold.




chemical tests

At the beginning of the chain, periodic audits are carried out at the suppliers' factories to ensure compliance with regulations and manufacturing standards, product safety, etc.and to make sure that the supplier complies with the technical specifications and quality standards of each one of the ordered products.

Each model that goes on the market is subjected to physico-chemical testing that must be carried out at accredited external laboratories (Aitex, Bureau Veritas or SGS) in order to guarantee the customer's health and safety and the absence of substances harmful to the environment. Testing for pilling, colour fastness, shrinkage, seam resistance and the absence of toxic substances, among others, is carried out for each of the items.

The results of the tests are received by the Quality Department before the orders leave the suppliers’ factories so that it allows them to monitor the condition of the garment at all times and to correct possible deviations and non-compliant garments that have been detected in a timely manner.

Our employees

05Our employees

Our employees

A multidisciplinary, dynamic and demanding team is the key piece in generating the company's value and providing its customers the best service.

Over 10,200 professionals make up a diverse team full of talent. The company also establishes measures that promote mobility and internal promotion in a completely transparent way, fostering professional development through Tendam’s different brands.

Our team is an essential part for the generation of value

To meet its employees’ needs, Tendam strives to guarantee quality working conditions, offering opportunities to all groups equally, promoting professional development and ensuring their health and safety.

Tendam has more than 10.200 employees

It is also makes sure that the salary ranges are established based on the levels set in the corresponding agreements or countries, according to the employee’s occupational group and seniority, regardless of their gender or any other factor.

In the published data, no employees of franchises are reported.

Global Staff data as of February 28, 2018.

Distribution of employees by country

Spain Global Staff data as of February 28, 2018.

Distribution by chain

Data for Equivalent Workforce as of Frebuary 28, 2018.

Distribution by activity

Global Staff data as of February 28, 2018.

(*) Middle Management: Incorporates those with direct responsibility for teams and/or the business.

Distribution by professional category

Global Staff data as of February 28, 2018.

Distribution by type of contract

Spain 4,553 62% 2.574 38%
Belgium 132 91% 13 9%
Bosnia 42 49% 44 51%
Bulgaria 26 100% - -
Croatia 14 13% 90 87%
France 161 100% - -
Germany 2 100% - -
Hungary 151 100% - -
Luxembourg 31 91% 3 9%
Mexico 132 77% 40 23%
Montenegro 13 65% 7 35%
Poland 3 50% 3 50%
Portugal 518 42% 728 58%
Russia 524 99% 4 1
Serbia 142 61% 91 39%
Others (*) 69 99% 1 1
Total 6.513 63% 3.778 37%

Global Staff data as of February 28, 2018.

(*) Others: Covers the structure of Cortefiel Comercial S.A. (Hong Kong and India).

Distribution by country and type of contract

Data as of February 28, 2018.

Remuneration of employees


05Our employees

Labour Relations

The company ensures freedom of affiliation and the right of workers to be represented to defend and protect their labour rights. Trade unions are guaranteed the right to exercise their trade union negotiation, participation and representation duties freely. In Spain, the most well-known trade unions are UGT and CCOO. At the regional level, CIGA in Galicia and ELA in the Basque Country also stand out. In Spain, the company follows the 52 Provincial Textile Commerce Collective Agreements.

Information to the workforce and queries or requirements when necessary, are approached through the management line and, where necessary, with the mediation of the Personnel and Human Resources Department. Regulatory channels through the company’s committees are used in the case of special situations or collective bargaining.

In Spain the company applies 52 Provincial Collective Agreements of Textile Trade

To ensure workers are always heard and that there is permanent dialogue with them, it has two-way communication channels that make the relationship between the management and the staff smoother, making it possible to meet different needs and to always keep the employees informed.


05Our employees

Work-life balance and social benefits

Tendam incorporates specific measures in its Human Resources policies to encourage a flexible, open and tolerant environment.

The company has measures regarding flexible hours and social benefits, framed within the scope of work organisation and health policies, which adapt differently to the requirements of the sales network and corporate services.

  • The measures regarding flexible hours include:

  • Flexible working hours and Friday afternoons off at the headquarters.

  • Personal maternity and paternity support programmes with continuous working days to avoid interruptions during working hours as well as overlapping the employee’s timetable with his/her partner’s in order to care for minors.

Employees have social benefits such as:

  • A discount card for all the Group's brands.

  • Discounts at other companies or

  • Assistance for employees with special needs or advances on paychecks.

The headquarters also has the following services:

  • Company canteen and
  • medical service with health prevention campaigns and specific check-ups.

The Flexible Remuneration Programme allows the remuneration policy to be adapted to the employee’s particular needs, with measures such as health insurance, childcare assistance and other benefits.

Employees with full-time workday 873 12% 2.354 32% 3.227 44%
Employees with part-time workday 563 8% 3.517 48% 4.080 56%
Total 1.436 20% 5.871 80% 7.307 100%

Spain Global Staff data as of February 28, 2018.

Distribution of employees by workday

Employees with maternity leave - 349 349
Employees with part-time maternity leave - - -
Employees with paternity leave 33 - 33
Employees with transfer of the maternity leave to the father - - -
Employees at risk during pregnancy - 312 312
Employees with reduction in working hours for legal guardianship reason - children 8 749 757
Employees with reduction in working hours for legal guardianship reason - relatives - 6 6
Employees with reduction in working hours for personal reasons 1 26 27
Employees with temporary maternity leave 1 70 71
Employees leave for family care - 1 1
Employees with unpaid leave 29 82 111

Spain Global Staff data as of February 28, 2018.

Permissions and leave of absence


05Our employees

Diversity and equal opportunities

Tendam promotes a high-quality work environment based on respect, diversity, and personal and professional growth.

More than 82% of our company are women

In an industry like fashion, having different skills, visions or experiences allows you to be more creative and to develop the best ideas to meet customers’ needs.

Our objective is the development of labor relations based on the equal opportunities and non-discrimination

As a key objective, the company recognises the development of labour relations based on equal opportunities and non-discrimination, fostering an open and inclusive work environment.

The Human Resources area works to perfect detecting talent and strengthening professional development plans.

Tendam applies best practices when searching for, selecting and retaining talent, ensuring the principles of equal opportunities and non-discrimination.

Selection processes without taking into account gender, country of origin, religion, functional diversity or sexual orientation

The company selects professional profiles that are best suited for the jobs and when establishing recruitment and remuneration conditions, it studies the employees’ worth, regardless of their gender, country of origin, religion, disabilities or sexual orientation.

Through local internal selection teams, Tendam wants to increase its efficiency and quality and respond to the particular needs of each of its stores in the best way possible, offering the same career opportunities to all its employees.

Global Staff data as of February 28, 2018.

(*) Others: Covers the structure of Cortefiel Comercial S.A. (Hong Kong and India).

Distribution by country and gender

Data for Equivalent Workforce as of Frebuary 28, 2018.

Distribution by activity and gender

Global Staff data as of February 28, 2018.

(*) Middle Management: Incorporates those with direct responsibility for teams and/or the business.

Distribution by professional category activity and gender

Directors and Senior Management 2 8 51 28 89
Middle Management (*) 2 110 181 78 371
Factory and Logistics Services Staff - 2 10 4 16
Sales, Administrative Staff and Other 249 500 135 76 960
Total 253 620 377 186 1.436
Directors and Senior Management 4 22 86 12 124
Middle Management (*) 7 444 537 48 1,036
Factory and Logistics Services Staff - 4 12 7 23
Sales, Administrative Staff and Other 1,023 2,646 849 170 4,688
Total 1,034 3,116 1,484 237 5,871

Spain Global Staff data as of February 28, 2018.

(*) Middle Management: Incorporates those with direct responsibility for teams and/or the business.

Distribution by professional category, gender and age

Diversity charter

As a reflection of its commitment to the values of equality and diversity, Tendam once again signed the Diversity Charter, a European initiative that promotes companies and institutions voluntarily fostering diversity and respect in the work environment. This way, Tendam promotes a society that shares the same principles and that improves people’s quality of life and work.

The Diversity Charter reflects to need to bring the following principles to the entire business environment—employees, customers and suppliers—fostering a society that shares the same principles and that improves people’s quality of life and work:

  • Promoting work-life balance.
  • Raising awareness of the company’s values, the principles of equal opportunities and respect for diversity.
  • Building a diverse workforce.
  • Effectively promoting integration without employment discrimination.
  • Managing diversity in all its management policies.
  • Extending and communicating its commitment to these values to its entire environment.
Equality Plan

In response to these principles, in 2017 Tendam published its 2012-2016 Equality Plan report, prepared in collaboration with UGT and CCOO (Spanish trade union organisations). As of now, the company is working on the second edition of the plan which will include objectives, strategies and practices regarding gender equality.

By doing so, Tendam is committed to:

  • Ensuring equal treatment and opportunities for women and men.
  • Guaranteeing there is no wage discrimination based on gender.
  • Promoting professional development for women and men at the company.
  • Ensuring that human resources management is up-to-date with current requirements regarding equal opportunities.
  • Promoting work-life balance measures and making sure they are implemented.
  • Make progress regarding joint responsibility between men and women.

With these objectives, the company promotes integration and work-life balance processes that make the work-life balance easier.

To make sure the Equality Plan is complied with and developed, Tendam has created a Monitoring Committee and the Equal Opportunities Agent figure. Their mission is to ensure compliance with the measures that have been set out, as well as to act as an intermediary between the different groups.

Tendam is a Business Women Empowerment initiative collaborator. This project, launched by CinnamonNews, seeks to give visibility to women entrepreneurs and managers who have achieved management positions in the work environment, turning them into models who can inspire new generations through communication and mentoring programmes.


05Our employees


The professional development of employees is key to achieving objectives and providing customers with an efficient and appropriate response.  The company has a training programme aimed at both the sales network and corporate services which is focused on the textile business and is customer-oriented.

The objective is to provide employees with the necessary resources to enhance their skills and competencies for their professional development.

Bet on online training through a new educational platform e-learning

The training plan provides a course catalogue adapted to the identity of each brand and each employee’s profile. There are programmes in a face-to-face format and others in an online format, allowing content on customer service, textile products, operating model, visual merchandising and leadership skills to reach any corner of the world.

The new e-learning educational platform Be!Talent is an accessible space designed so that each employee can take courses that are part of the curriculum like Onboarding for each brand or access the open catalogue with open enrolment. This way, they can design their training according to their tastes and interests as well as the requirements of their job position.

The Be!Talent platform has become a space for learning which all employees have access to and where there is welcoming content (welcoming them to our company), as well as courses that accompany them throughout their professional career.

This same tool also allows a talent matrix to be managed where, through a performance evaluation, each manager can see the competency profile of their teams and thus participate in the development they require according to their needs in their position.

Our commitment to learning and the teams’ professional development is based on the belief that we must all be part of an individuals’ growth within Tendam.

Intership Plan

The company also has other collaborations through training agreements with 300 regulated educational training institutions for employment, public institutions and social entities with which it seeks to promote the inclusion of young people and groups at risk of exclusion in the labour market.

The company maintains training agreements with more than 300 institutions

Students in Work Centre Training (W.C.T.) programmes in sales, marketing or similar studies, as well as students in the programmes with entities that work with young people who are at risk of social or labour exclusion, have tutors who accompany and guide them during the training period. The training experience throughout these years has been very positive for the company as well as for the young students with a very high hiring rate afterwards.









have received


have received



Spain Global Staff data as of February 28, 2018.

Number of training hours






Spain Global Staff data as of February 28, 2018.

Sales network - Training assistants

Spain Global Staff data as of February 28, 2018.

Sales network - Trainning hours

Code of conduct 1,025 2,050
On boarding 1,266 19,566
Operating model 357 2,142
Managers management program 115 3,680
Seconds-in command management program 219 3,287
Retail coaching 183 4,184

Spain Global Staff data as of February 28, 2018.

Sales networks - Important programs

Central services programs





Spain Global Staff data as of February 28, 2018.

Central services - Training assistants

Spain Global Staff data as of February 28, 2018.

Central services - Trainning hours

Code of conduct 84 168
PRI program. Office staff 420 1,680
English classroom program 86 2,580
Retail coaching 44 816

Spain Global Staff data as of February 28, 2018.

Central services - Important programs


05Our employees

Health and safety

Occupational Risk Prevention Service

Tendam’s Occupational Risk Prevention Service includes the specialities of safety, ergonomics and hygiene and an external Health Monitoring Service.

Tendam has 56 prevention officers across 24 provinces and quarterly meetings are held with the 21 Health and Safety Committees.

Promotion of a healthy life and employee welfare

The prevention service activities focus on providing a safe work environment in every respect, as well as promoting a healthy life and the employees’ well-being. During the 2017 financial year, the following actions have been carried out:

  • Studying, detecting and preventing possible problems in the work environment at the work centres with 80 Assessments of Psycho-Social Factors.
  • Carrying out or reviewing the Risk Assessments and the Evacuation and Emergency Plans in 258 stores.
  • Drafting the 2017 Prevention Plan and the 2016 Service Report.


on prevention


and safety

Cardiac-protected spaces

Tendam is committed to creating cardiac-protected spaces. The headquarters in Madrid, the logistics centre and some stores already have automated defibrillators and a comprehensive cardiac protection plan for any cardiac emergency. For another year, 17 employees have renewed their cardiopulmonary resuscitation (CPR) training to be able to act quickly until emergency services arrive.

Medical service

The Medical Service, made up of its own staff, carries out preventive and care activities that ensure the safety of the different jobs. It supervises temporary disability leaves and meets with an external medical team on a monthly basis to establish aid procedures to move up medical appointments and tests.

We offer a preventive and assistance medical service to our employees

The following tasks are carried out at Tendam's headquarters:

  • General practice consultation at headquarters that dispenses medicine and prescriptions.
  • Nursing care: monitoring blood pressure, blood sugar, dressings, injections, etc.
  • Initial care for emergencies and accidents in order to be referred to a health centre.
  • Coordination of periodic medical examinations for employees at headquarters and warehouses.
  • Flu vaccine campaigns.
  • Visual health campaign.
  • Information about preventive vaccinations for trips abroad and subsequent vaccination if necessary.
  • Optician and dental service arrangement.
  • Collaboration with the Madrid Transfusion Centre.
Minor 150
Serious 0
Very serious 0
Fatal 0
Minor 85
Serious 1
Very serious 0
Fatal 0
Minor 217
Serious 0
Very serious 0
Fatal 0
Total Accidents 453

Spain Global Staff data as of February 28, 2018.

Occupational accident

Spain Global Staff data as of February 28, 2018.

Health and safety training

Spain Global Staff data as of February 28, 2018.


Our suppliers

06Our suppliers


Currently, Tendam works with suppliers from over 50 countries, for manufacturing garments and as well as all types of products and services in the countries where it operates.

The company bases its selection of suppliers on three pillars: transparency, equal opportunities and mutual interest. Choosing suppliers is an intensive process that involves researching and evaluating them according to quality standards, product, production capacity and social aspects.

Transparency, equal opportunities and mutual interest

That is why the Group has three sourcing offices in Hong Kong, India and Madrid where contracts are managed and production is controlled.

Its principal function is to coordinate with suppliers and continually supervise factories with audits for quality and compliance with the code of conduct.

  • The Hong Kong office manages suppliers in the Asia-Pacific area.
  • The India office controls the volume of purchases in the region.
  • And the Madrid office manages operations with European, American and North African suppliers.
Transparency and Communication

Tendam facilitates direct and transparent communication both during the contracting phase and when services are provided.

In order to respond to this challenge, a supplier evaluation and approval process have been established based on three fundamental pillars: transparency, equal opportunities and mutual interest.

Tendam continuously promotes the transparency, efficiency and agility of the purchasing and contracting processes

The purchasing processes of general services, the application process and awarding and contracting will be done according to the type and amount of product or service, taking the company’s interests into consideration first and continuously pushing for transparency, efficiency and agility in the purchasing and contracting processes.

To manage garment and product purchases, there is a Supplier Portal that allows suppliers to have a single centralised access point to all the documentation and necessary applications in a fast and simple way. Every supplier can connect to the portal from anywhere in the world and access all the information and applications for which it has authorisation. The status of orders and invoices can be checked at any time, as well as the phase of the approval process they are in.

The company has an ethics hotline service which can be accessed both from the intranet and on the company's website. It allows any employee or third party to report possible irregular or unethical behaviour or behaviour that goes against the principles set out in the Code of Conduct.

Ethical line: Accessible space from the intranet and the website, to communicate unethical and irregular behaviors not contemplated in the code of conduct

Data as of February 28, 2018.

Number of active suppliers (garments, products and services)

Data as of February 28, 2018.

Distribution of payments to suppliers (garments, products and services)

Data as of February 28, 2018.

Distribution of payments to suppliers by continent (garments, products and services)

Data as of February 28, 2018.

Number of active suppliers by garments

Data as of February 28, 2018.

Distribution of garment sales by continent


06Our suppliers

External Code of Conduct

In line with Tendam's values and commitments regarding ethical and responsible behaviour, the company extends accountability to its supply chain through the External Code of Conduct.

Tendam ensures that its entire supply chain works under responsible working conditions. The code contains 12 principal elements, based on the international agreements of the United Nations and the International Labour Organisation (ILO). The Code of Conduct is provided to each of the suppliers and they are required to accept the conditions.

All suppliers, including suppliers of textiles, services and general purchases, know and accept the conditions in the Code of Conduct. All garment suppliers are subject to periodic audits and evaluations to guarantee their workers’ working and social conditions.

100% of our suppliers accept the Code of External Conduct

The Code of Conduct is also an additional clause in franchise agreements so that responsible practices are extended to all operations.


06Our suppliers

Responsible supply chain

Data as of February 28, 2018.

Number of evaluated factories

Data as of February 28, 2018.

Factories distribution by country

Tendam is committed to promoting best practices in its supply chain. Collaboration with long-term suppliers, permanent dialogue and joint planning allow relationships of mutual trust to be established. Within its global supply chain, Tendam has established an intensive process of researching and approving suppliers according to quality standards, product, production capacity and social aspects to ensure the quality of the products and its suppliers’ working and social conditions.

amfori is a global association for open and sustainable trade whose The main mission is to improve society and promote the sustainable use of means

At the end of 2017, Tendam joined amfori, becoming part of a group of more than 2,200 entities.

With joining amfori, Tendam strengthens its control of the supply chain after adapting its evaluation and approval system to the requirements defined in amfori’s global assessment system and it ensures that its suppliers work ethically and responsibly.

amfori is a global association for open and sustainable trade whose main mission is to improve society and encourage the sustainable use of resources.

In 2017, it defined a new strategy, Vision 2030. It focuses on five objectives based on the association’s main values:

  • Building an organisation to be future fit
  • Helping members through insight and experience
  • Inspiring action around the world
  • Creating leaders for a sustainable future
  • Contributing to the SDGs and increasing global prosperity

This association is one of the largest groups supporting the liberalisation of international trade, aimed at environmental and social improvement of global supply chains.


In 2017, a new supplier management system was introduced to improve the traceability of the supply chain. The system collects all the information related to the supplier's data, factories where each of the orders will be produced, technical data, etc. Thanks to this system, it is possible to completely trace the development of the products.

Thanks to the supplier management system it is possible to completely trace the development of the product

Periodic reviews

Not less frequently than every three years, each factory is completely re-evaluated. By using these tools, the company ensures that its suppliers work in a responsible manner and it can detect and correct possible deviations and non-compliance.

The periodic visits of Tendam's Quality technicians to the suppliers’ factories allow Tendam to have additional first-hand information about the monitoring of working conditions, production capacity and the suppliers’ compliance with environmental and quality standards.

Approval and social audit process

Before placing an order, any supplier that works for the first time for any of the Tendam brands must undergo an evaluation by the company's technicians on their technical capacity: processes, machinery, production capacity, etc.

The evaluations are carried out at each of the factories that are expected to take part in manufacturing the orders for the company. If it does not pass the technical audit, it will fail and the evaluation process will be over, although the factory will be provided a period of time to implement the necessary actions to comply with the requirements.

During these audits, visual inspections, interviews with the management and employees and review of evidence

In addition to the technical evaluation, an evaluation of the working and social conditions is carried out. In order to meet the requirements that have been established, the factory can present a certification in accordance with international schemes that will be validated and verified by the company’s technicians or subjected to an audit by outsourcing entities accredited by SAI.

During these audits, visual inspections, interviews with management and employees and evidence review are carried out.

If they get an unsatisfactory result, Tendam provides a six-month extension so the factory can adapt to the company’s requirements.

If during the audit process serious violations of human rights, forced labour and/or child labour or lack of freedom of association are detected, Tendam will evaluate the audit with a negative result following the ‘Zero Tolerance’ criterion defined in the Social Audit System.

The company will not work with that factory until it adapts its situation to the minimum requirements that have been established. With this system, the company works on maintaining stable relationships with its suppliers so that it is committed to continuous improvement. Ties are established and suppliers are supported to resolve possible shortcomings in social and labour matters.

The suppliers system makes it possible to know the status of the evaluations of each of the factories that work for the different suppliers so orders can only be placed for factories that are already in the system with a positive evaluation. Otherwise,the process must be started again.

Semi-announced audits

During 2017, a semi-announced audit programme was started. These audits will be carried out:

  • Factories that obtained a low score in the previous audit.

  • Factories that have a significant production volume.


06Our suppliers

Logistic efficiency



135,000 m2



garments distributed

In 2017 an automatic warehouse of boxes was installed in Aranjuez with 62 thousand locations that allowed an increase in storage capacity

A key aspect in supply chain performance is the logistical efficiency of managing the products, from the time they leave the factory until they reach the stores.

Tendam channels this management through two strategic distribution centres.

  • On the one hand, there is a multi-brand consolidation centre in Hong Kong where merchandise from Asian suppliers is distributed to the Group's franchise network and its corporate stores in Mexico through cross-docking. In addition, the Central American company has a specific distribution centre for deliveries to corporate stores and the Mexican franchises.

  • The main logistics centre is located in Madrid which acts as a franchise consolidation centre for merchandise from suppliers in the Euro-Mediterranean region. It is the sole distributor for all corporate and online stores in Europe.

This logistics centre, located in Aranjuez, receives merchandise from suppliers from all countries. From there, it provides stock to 100% of its corporate stores and 65% of franchised stores of all Tendam’s brands.

The Madrid logistics centre is certified as a regulated agent and known consignor by the National Aviation Safety Agency. This ensures that the supply chain is safe and that customs processes and controls are complied with, in addition to significantly shortening delivery times.


Environmental management

Environmental management

07Environmental management

Commitment to the enviroment

In the environmental area, the company focuses on knowing and managing the impacts it makes directly and indirectly, which has led to the implementation measures regarding energy efficiency, waste management, responsible use of resources and working in accordance with circular economy principles, improving and optimising the use of resources and encouraging reusing and recycling products.


In order to reduce waste generation at the consumers’ homes, measures have been carried out to replace packaging materials with others that have a lower environmental impact and to get rid of unnecessary elements.

70% of the boxes that arrive at the logistics centre from suppliers are reused during picking for store replenishment, thus optimising the use of raw materials and minimising waste generation.

Plastic has been completely eliminated from the bags that are given to customers. They are made of paper for all brands and in the case of Springfield, they are PEFC and FSC certified. These certifications evaluate the whole line of forest production, from the tree to the final product, verifying that its origin is environmentally friendly.

We optimize the use of raw materials and reduce generation to the maximum waste

Within the scope of ecodesign, research is being carried out on new materials and the use of more sustainable techniques in the design process and finishes of garments with lower water and energy consumption, such as ozone and laser techniques.

Energy efficiency

With almost 2,000 points of sale all over the world, the stores become the heart of the activity that need to adapt to specific needs and the specific and differentiated commercial offer of each brand.

In the design of the sales areas, environmental factors are assessed and there is a rational use of energy. In each opening or renovation project, lighting, as well as thermal and cooling installation improvements, are taken into account in order to achieve greater energy efficiency and to maximise our sustainability criteria.

We want to achieve the highest energy efficiency and maximize our sustainability criteria

The logistics centre in Aranjuez has energy saving lighting equipment, on/off automation depending on the ambient light, sectorisation of areas, automation systems and a photovoltaic system on the entire roof of the building. kWh.

Efficient logistics

Logistics decisions are taken from both an economic and environmental point of view. Air shipments have been decreased and efficiency measures when filling boxes and trucks have been implemented that considerably reduce the emission of greenhouse gases for each tonne transported.

Efficient distribution to all stores is achieved thanks to two main areas: the distribution centre in Madrid and the cross-dock centre in Hong Kong.

Multi-brand distribution involves a considerable decrease in transport and deliveries to stores are done outside of business hours in order to not to hinder the activity and to minimise the effects of traffic in urban areas.

The information published corresponds to the countries where own stores with points of consumption are available. No corners or franchises are counted.

Data as of February 28, 2018.

Logistic centers: Spain consumption data

Total electricity consumption

Electricity Consumption in Stores (kWh) kWh / Nº of stores kWh / m2
Spain 75,115,651 94.012 268
Belgium 1,467,258 48.909 251
Bulgaria 171.370 42.843 172
France 629,310 34,692 157
Hungry 1.193.480 59.674 251
Luxembourg 389.099 55.586 210
Mexico 1.440.043 48.001 235
Portugal 12.270.983 84.048 261
Rusia 824.072 11.445 92
Serbia 245.000 7.656 44
Total 93.746.266 80.955 257

Data as of February 28, 2018.

The consumptions represent 98.6% of the total area (m2) of stores with own management.

Electricity consumption in stores by country

Data as of February 28, 2018.

Electricity consumption in Spain

Data as of February 28, 2018.

Electricity consumption in stores in Spain

Data as of February 28, 2018.

Ratio of electricity consumption in stores in Spain

Data as of February 28, 2018.

Electricity consumption in logistics centres in Spain


07Environmental management


Tendam shares with society the global concern about climate change. It takes on the challenge of managing its operations in the most efficient and environmentally friendly way, assessing the greatest risks and identifying the best opportunities to minimise its effects.

This commitment leads to control policies over those operations in which it intervenes directly, always seeking maximum efficiency and lower consumption. To that end, a measurement and management process of the carbon footprint is carried out with the objective of evaluating the impact of greenhouse gas emissions on an annual basis and taking necessary measures.

Total GHG Emissions

62,088 Tn CO2eq

Calculation period

1 March 2017 to 28 February 2018.

Calculation scope

Headquarters, logistics centre and warehouses and the entire network of corporate stores.

Calculation Method

GHG emissions calculated in accordance with the ‘Greenhouse Gas Protocol (GHG Protocol). Corporate Accounting and Reporting Standard’ established by the WRI (World Resources Institute) and WBCSD (World Business Council for Sustainable Development).



Emissions from using heating fuel in stores and facilities.


Leaked emissions from air conditioning units in stores in Spain, Portugal and Belgium.


Emissions from vehicle fuel consumption (as they do not have their own fleet, it refers to hired vehicles only).



Emissions derived from electricity consumption at headquarters, Aranjuez logistics centre, warehouses and the entire network of corporate stores.



Emissions due to the transport of goods from suppliers to the Hong Kong and Aranjuez (Madrid) logistics centres.


Emissions due to the transport of goods from the logistics centres to the entire network of corporate stores.


Emissions due to transport to the entire network of franchise stores.


Emissions due to the transport of goods from online sales.


Emissions from employee business trips.

Data as of February 28, 2018.

Total greenhouse gas emissions

Data as of February 28, 2018.

Distribution of greenhouse gas emissions

Tn CO2 eq Kg CO2 eq / garment
Emissions from garment transportation (*) 20,076 0.22

Tn CO2 eq Kg CO2 eq / m2
Emissions from electricity consumption in stores (**) 34,632 95

Data as of February 28, 2018.

(*) Includes emissions due to transport of final product from suppliers to logistics centers and from logistics centers to directly operated stores, franchises and online sales.
(**) Includes indirect emissions due to electricity consumption in directly operated stores.

Emission rates

Social Commitment

08Social Commitment

Strategic collaborations


08Social Commitment

Commitment to innovation


08Social Commitment

Cosas que sí Importan

Cosas que sí Importan

Women'secret is a brand committed to women in all the aspects and stages of their lives. This year the brand has renewed its commitment to women who have been operated because of a breast cancer with the "Cosas que Si Importan" initiative. This solidary initiative was launched in 2013, being the first intimate brand to design a bra for prostheses. In 2017 we presented a new post-operative fastener specially designed for the recovery period after a mastectomy.

The entire collection is designed with the advice of orthopaedists and specialists in Oncology Gynecology and Mastology from Dexeus Woman, in order to offer a comfortable, feminine and affordable product to all women who have recently undergone surgery.

Tendam's support to women goes beyond; allocating 100% of the collection to offer, free of charge, the fertility preservation treatment in oncological patients carried out by the Dexeus Mujer Foundation. Expansión, leader of the economic press, presented the Innovation + Sustainability Awards, giving a special mention to Women'secret for the "Cosas que si importan" initiative.


08Social Commitment

Involucrados Project

Data as of February 28, 2018.

Total contribution 2005-2017: 1,320,802 Euros.

Evolution of the Involucrados Project from 2005 - 2017

1,320,802 Euros

Data as of February 28, 2018.

Number inside the chart: 1,320,802 Euros.

Distribution by area of actitivy 2005 - 2017

1,320,802 Euros

Data as of February 28, 2018.

Number inside the chart: 1,320,802 Euros.

Distribution by geographic area 2005 - 2017


08Social Commitment

Collaborative projects









Project Involucrados
Development cooperation | Asia
Care for elderly, women and children chronically ill seropositive and in a situation of dependency.

Developed in Mongkol Borei (Cambodia), this program is based on accompanying families in which there are older people, women and / or children affected by HIV / AIDS, to mitigate its effects and thus promote peace among individuals, families and communities.

Manos Unidas

Involucrados Project

Project Involucrados
Disability | Spain
Mano a mano Project with disabled people

This project has two fundamental objectives: on the one hand, to increase the occupation of people with disabilities through the sale of quality textile and binding products made one hundred percent by hand and, on the other hand, to make visible the production process and the labor capacities that make possible the preparation of this products.

Asociación Afanias

Involucrados Project

Project Involucrados
Development cooperation | Asia
Higher education in India

The Sonrisas de Bombay Foundation works to promote access to education in India, beyond compulsory education, as well as equal opportunities and a better quality of life for young people in the communities where it is present. In addition to the amount allocated, a part of the money has been dedicated to a community health project to promote prevention.

Foundation Sonrisas de Bombay

Involucrados Project

Project Involucrados
Women's health | Spain
Volunteer training in the care of pregnant women victims of abuse and / or emotional dependence

The RedMadre Foundation aims to train its volunteers in the care of pregnant women victims of abuse and / or emotional dependence. From Women'secret there is a high degree of commitment to issues related to women, both in terms of health and inclusion, and that is why we have opted for this collaboration.

Foundation REDMADRE

Involucrados Project

Telva Solidarity Awards 2017
Development cooperation | Africa
Project in Dschang

Project for the supply and installation of a system of production and storage of electrical energy by means of solar photovoltaic technology in the Hospital of Notre Damme de la Sante in the city of Dschang, in the west of Cameroon.


Telva Solidarity Awards 2017

II Christmas Employee Contest
Development cooperation | Africa
May love prevail in the face of adversity

Tierra de Hombres has been working since 2009 in Mauritania to change the situation of girls characterized by deschooling and illiteracy. The objective is to protect them in order to give them a decent future and to put an end to labor exploitation. Till now, more than 12,000 children have been identified.

Tierra de Hombres

II Christmas Employee Contest

Donation Campaign
Disability | Spain
Donation for Foundation projects

The main objective of the Cadete Foundation is the social integration of the physically, psychically or sensorially disabled.

Foundation Cadete

Donation Campaign


08Social Commitment

Summary of charity projects

Cortefiel Involucrados Project Manos Unidas Care for elderly, women and children chronically ill seropositive and in a situation of dependency 37,515
Pedro del Hierro Involucrados Project Asociación AFANIAS Mano a mano 29,351
Springfield Involucrados Project Foundation Sonrisas de Bombay Higher education 30,021
Women'secret Involucrados Project Foundation REDMADRE Volunteer training in the care of pregnant women victims of abuse and / or emotional dependence 36,709
Women'secret Cosas que sí importan Foundation Women Dexeus Oncological preservation treatment of fertility 44,140
Tendam Telva Solidarity Awards 2017 Asociación Cirujanos Ortopédicos de España para el Mundo Project in Dschang 9,000
Tendam II Christmas Employee Contest Tierra de Hombres Project “May love prevail in the face of adversity” 1,000
Tendam Donation Campaign Foundation Cadete Donation for Foundation projects 3,700
Total 191,436

Data as of February 28, 2018.

Contributions to charity projects 2017

Tendam Cuota Socio Fundación SERES 6.000
Tendam Cuota Entidad Amiga Fundación Lealtad 4.000
Tendam Cátedra Cortefiel Universidad de Navarra - ISEM 30.000
Total 40.000

Data as of February 28, 2018.

Other contributions to social action in 2017

25,380 142,000

Data as of February 28, 2018.

Clothing donation 2017

Total contribution 2008-2016: 2,029,211 Euros

Data as of February 28, 2018.

Evolution of the Charity Project from 2008-2017

2,029,211 Euros

Data as of February 28, 2018.

Distribution by area of activity 2008 - 2017

2,029,211 Euros

Data as of February 28, 2018.

Distribution by geographic area 2008 - 2017

Cortefiel Involucrados Project Manos Unidas Care for elderly, women and children chronically ill seropositive and in a situation of dependency 37,515
Pedro del Hierro Involucrados Project Asociación AFANIAS Mano a mano 29,351
Springfield Involucrados Project Foundation Sonrisas de Bombay Higher education 30,021
Women'secret Involucrados Project Foundation REDMADRE Volunteer training in the care of pregnant women victims of abuse and / or emotional dependence 36,709
Women'secret Cosas que sí importan Foundation Women Dexeus Oncological preservation treatment of fertility 44,140
Tendam Telva Solidarity Awards 2017 Asociación Cirujanos Ortopédicos de España para el Mundo Project in Dschang 9,000
Tendam II Christmas Employee Contest Tierra de Hombres Project “May love prevail in the face of adversity” 1,000
Tendam Donation Campaign Foundation Cadete Donation for Foundation projects 3,700
Total 191,436
Tendam Cuota Socio Fundación SERES 6.000
Tendam Cuota Entidad Amiga Fundación Lealtad 4.000
Tendam Cátedra Cortefiel Universidad de Navarra - ISEM 30.000
Total 40.000
25,380 142,000


About this report

About this report

09About this report

Scope of the report

Principles that govern the quality of the information in the report

The contents included in this report have been developed following the guidelines and principles established in the Global Reporting Initiative’s Standards (SRS) in accordance with the key application level.

1 |


Tendam provides balanced information since it collects material indicators for the company and reflects both its positive and negative impacts.

2 |


The 2017 Sustainability Report shows comparative data from recent years in order to report on its sustainability performance.

3 |


The company has an IT tool to manage non-financial information that allows the information to be automatically collected and consolidated, which reduces the occurrence of manual errors.

4 |


This is the eleventh annual Sustainability Report in accordance with the GRI standards. This Report covers the entire 2016/17 accounting year, which includes the period from 1 March 2017 to 28 February 2018.

5 |


As a distinguishing mark of the company, audiovisual and electronic tools are used to reach a wider audience while guaranteeing the accuracy and transparency of the information.

6 |


External This report has been subject to an independent review by KPMG.

This 2017 Sustainability Report covers all Tendam's activities that are managed at the corporate level for the different brands and structured businesses. In case of any content limitations, more details are provided either in the corresponding section of the report or in the GRI index, adhering to the commitment to continue working on internal data management to provide more complete information.

The basic criteria followed to produce this report are:

  • The information reported was presented on 28 February 2018 except where expressly indicated.

  • All information and data obtained from Tendam’s different internal management systems have been provided by those responsible for different fields.

  • The information is not limited exclusively to quantitative indicators but rather is complemented by qualitative information to reflect a balance suited to sustainability.

  • The video footage is real and provides a deeper understanding of the contents and presents the company as it is. It has been filmed at the group’s headquarters, warehouses, stores and suppliers’ facilities.


09About this report

External Verification

KPMG has conducted an independent ISAE 3000 review of certain indicators included in Tendam's 2017 Audiovisual Sustainability Report, considering the scope and conclusions described in the independent review report that is available to interested parties in the attached document.

Tendam is responsible for the selection, preparation, maintenance and presentation of the information contained in the 2017 Audiovisual Sustainability Report and for ensuring that the information within KPMG assurance engagement corresponds with what is reflected in the version of the report downloaded at the issuance date of the independent review report.

The responsibility of KPMG has been to carry out a limited review on the preparation and presentation of this information and to express an opinion based on the work performed. The scope of the reviewed information is detailed in the 'Global Reporting Initiative' section of this report, and is marked with the symbol . In case of discrepancy between the scope or content of the information subject to review, the version published at the issuance date of the KPMG Independent Review Report shall prevail.


09About this report

GRI index

GRI 102: General Disclosures

Organizational profile

Tendam is present in numerous national and international reference organizations in the sector, actively participating through its committees and working groups: ACME, ACOTEX, AMFORI, AMRE, ANGED, ASECOM, ASEPAM, CEOE, CEIM, CEA, EBCA, FEFECON, Fundación LOYALTY, Fundación SERES, FMRE and ISEM.

Topic-specific Standards

Economic topics

Economic performance

GRI 201. Economic performanceG4-DMA

Although the activity of Tendam does not have direct financial implications in terms of climate change, numerous measures are developed to minimize the risks.
Indicator not significant. The subsidies received are not significant, and mainly, are in terms of training.

Market Presence

GRI 202. Market PresenceG4-DMA

Indirect Economic Impacts

GRI 203. Indirect Economic ImpactsG4-DMA

Procurement Practices

GRI 204. Procurement PracticesG4-DMA


GRI 205. Anti-corruptionG4-DMA

Anti-competitive Behavior

GRI 206. Anti-competitive BehaviorG4-DMA

During fiscal year 2017, there were no claims due to monopolistic practices or against free competition.

Environmental topics


GRI 301. MaterialsG4-DMA


GRI 302. EnergyG4-DMA


GRI 303. EmissionsG4-DMA

Water and Effluents

GRI 304. Water and EffluentsG4-DMA

Environmental Compliance

GRI 305. Environmental ComplianceG4-DMA

During fiscal year 2017, no penalties or fines have been recorded for environmental incidents.

Supplier Environmental Assessment

GRI 306. Supplier Environmental AssessmentG4-DMA

Social topics


GRI 401. EmploymentG4-DMA

Labor/Management Relations

GRI 402. Labor/Management RelationsG4-DMA

Occupational Health and Safety

GRI 403. Occupational Health and SafetyG4-DMA

Training and Education

GRI 404. Training and EducationG4-DMA

Diversity and Equal Opportunity

GRI 405. Diversity and Equal OpportunityG4-DMA


GRI 406. Non-discriminationG4-DMA

During fiscal year 2017, there were no significant incidents due to discrimination.

Freedom of Association and Collective Bargaining

GRI 407. Freedom of Association and Collective BargainingG4-DMA

Child Labor

GRI 408. Child LaborG4-DMA

Forced or Compulsory Labor

GRI 409. Forced or Compulsory LaborG4-DMA

Security Practices

GRI 410. Security PracticesG4-DMA

Indicator not applicable. Tendam does not hire security personnel, except punctually for security in stores, for which approved companies are hired, whose staff has received all the regulatory training.

Rights of Indigenous Peoples

GRI 411. Rights of Indigenous PeoplesG4-DMA

During fiscal year 2017, there were no incidents related to the rights of indigenous people.

Human Rights Assessment

GRI 412. Human Rights AssessmentG4-DMA

Local Communities

GRI 413. Local CommunitiesG4-DMA

Supplier Social Assessment

GRI 414. Supplier Social AssessmentG4-DMA

Public Policy

GRI 415. Public PolicyG4-DMA

Tendam does not participate in the financing of any political party.

Customer Health and Safety

GRI 416. Customer Health and SafetyG4-DMA

During fiscal year 2017, there were no breaches regarding the safety of the products.

Marketing and Labeling

GRI 417. Marketing and LabelingG4-DMA

During fiscal year 2017, there were no defaults related to the information or labeling of the products.
During fiscal year 2017, there were no breaches regarding to the supply and use of products or services.

Customer Privacy

GRI 418. Customer PrivacyG4-DMA

During the year 2017 there have been no incidents or breaches related to the privacy of customer data.

Socioeconomic Compliance

GRI 419. Socioeconomic ComplianceG4-DMA

During fiscal year 2017, there were no breaches or penalties regarding to the supply and use of products or services.

09About this report

Global Compact of the United Nations

Tendam signed up to the United Nations Global Compact in 2002. Since then, it has submitted progress reports on an annual basis to inform its stakeholders, as well as society in general, about its progress towards commitments made upon subscribing to the Global Compact Principles.

It follows best practice for the preparation of Global Compact progress reports and, given the analysis performed on the Sustainability Report’s materiality and content relevance, integrates the topics aligned with the 10 Global Compact principles which can be found in different report points, linked to the indices required by Global Reporting Initiative.

Un Global Compact - Network Spain - We support
Human Rights Principle 1. Businesses should support and respect the protection of internationally proclaimed human rights. G4‑HR2, G4‑HR7, G4‑HR8, G4‑HR9, G4‑HR12, G4‑SO1, G4‑SO2
Principle 2. Business should make sure they are not complicit in human rights abuses. G4‑HR1, G4‑HR10, G4‑HR11
Labour Principle 3. Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining. G4‑11, G4‑HR4, G4‑LA4
Principle 4. Businesses should uphold the elimination of all forms of forced and compulsory labour. G4‑HR6
Principle 5. Businesses should uphold the effective abolition of child labour. G4‑HR5
Principle 6. Businesses should uphold the elimination of discrimination in respect of employment and occupation. G4‑10, G4‑EC5, G4‑EC6, G4‑LA9, G4‑LA11, G4‑LA12, G4‑LA13, G4‑HR3
Environment Principle 7. Businesses should support a precautionary approach to environmental challenges. G4‑EC2, G4‑EN1, G4‑EN3, G4‑EN8, G4‑EN15, G4‑EN16, G4‑EN17, G4‑EN20, G4‑EN21, G4‑EN27, G4‑EN31
Principle 8. Businesses should undertake initiatives to promote greater environmental responsibility. G4‑EN29, G4‑EN30, G4‑EN31, G4‑EN32, G4‑EN33, G4‑EN34
Principle 9. Businesses should encourage the development and diffusion of environmentally friendly technologies. G4‑EN6, G4‑EN7, G4‑EN19, G4‑EN27, G4‑EN31
Anti-corruption Principle 10. Businesses should work against corruption in all its forms, including extortion and bribery. G4‑56, G4‑57, G4‑58, G4‑SO3, G4‑SO4, G4‑SO5, G4‑SO6


09About this report


This Sustainability Report 2017 Audiovisual is available in its online version in Spanish and English,

on the Tendam website,

Área Corporativa.

Avenida de Llano Castellano Nº 51.

28034, Madrid.


For any questions or additional information, please contact: