Spanish fashion retailer Tendam to keep free returns, online/in-store sales mix

Madrid, June 23 (Reuters)-Spanish fashion retailer Tendham, like everyone else, has recovered from the pandemic by increasing online sales and will continue to return free clothing, CEO told Reuters. rice field. rival.

Owners of the Women´Secret and Cortefiel chains believe that the best way for fashion retailers to make a profit is to integrate their online and physical businesses.

UK online fashion retailers ASOS and Boohoo are increasing product returns as consumers may fight inflation and follow others in introducing fees for some returns. Is hurt byread more

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Jauma Mikel, President and Chief Executive Officer of Tendham, said the return request was incorrect. “It looks like we’re trying to make our customers feel guilty. Companies need to introspect when they make a 40% profit,” he said in an interview at Madrid headquarters.

Online sales worked more effectively when customers had the option of picking and returning clothes in the physical store, Miquel said.

“I don’t want the Spanish commercial map to consist of a yellow box of Amazon service points (…) Shops can help improve people’s quality of life,” Miquel added. ..

Approximately 70% of Tendam’s online customers return their purchases in-store, with a return rate of 21%.

Tendham reported Thursday that sales from March 2021 to February 2022 increased by 43.3% to € 1.1 billion, in line with pre-pandemic levels. Digital sales increased 30.4% last year compared to 2020 and 95.6% higher than 2019.

Shareholders of Tendham include buyout funds PAI and CVC.

Spain’s third-largest garment group has 1,805 physical stores in the European, Middle East and Ratham markets, of which 1,200 are operated in-house. We plan to open more in Mexico and Iberia, but not in China and the United States as competition intensifies. We will also add over 100 major brands such as Levi’s and UGG to our digital platform.

Physical and online sales of Russia’s Tendam accounted for 2% of pre-Ukraine invasion revenue. They will remain suspended while assessing whether the company will reopen, permanently close, or operate through a local partner, as companies like Mango do.

“I want to take at least six months to make a decision,” Mikel said.

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Report by Corina Pons, edited by Aislinn Laing, Elaine Hardcastle

Our Criteria: Thomson Reuters Trust Principles.

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