Spanish fashion retailer Tendam delays IPO to after the summer, source says

Spanish fashion retailer Tendam has postponed its planned initial public offering to after this summer because of the effects of current political turmoil on stock markets, a person familiar with the plan told Reuters on Wednesday.

The source said earlier this month the company was ready to launch the IPO before the summer, or the end of June.

“We will not rush an operation, we want it to go well… we will wait for the right moment,” the person said, confirming an earlier report by Cinco Dias newspaper.

The owner of Women’s Secret, Cortefiel and Springfield apparel store chains has said it is planning to launch an IPO in Spain before February 2025.

A Tendam’s spokesperson declined to comment.

Tendam’s decision to hold the IPO comes one day after Italian luxury sneaker maker Golden Goose announced it has postponed its initial public offering on the Milan bourse because of market volatility arising from political uncertainty in Europe.

Golden Goose was the first company to pull its IPO as a result of the market upheaval caused by elections France and elsewhere in Europe.