Spanish fashion retailer Tendam will keep free returns, a mix of online / in-store sales

MADRID, June 23 (Reuters) – Spanish fashion retailer Tendam, which, like others, has recovered from the pandemic by partially boosting online sales, will remain with free returns, its chief executive told Reuters, despite delays. digital retail rivals.

The owner of the Women´Secret and Cortefiel chains believes that the best way for fashion retailers to make a profit is the integration of online and physical jobs.

British online retailers ASOS and Boohoo have been hurt by rising product returns as consumers fight inflation and may follow others in introducing a fee for some refunds. read more

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Tendam President and CEO Jaume Miquel said charging a refund is wrong. “We seem to be trying to make customers feel guilty. Companies need to engage in self-reflection when they have a 40% return,” he said in an interview at the company’s headquarters in Madrid.

Miquel said online sales worked better when customers had the option of physical stores to choose and return clothes.

“I would not like the commercial map of Spain to consist of the yellow boxes of Amazon’s service centers (…) which help to improve people’s quality of life,” Miquel added.

Almost 70% of Tendam’s online customers return their purchases in the store, and the return rate is 21%.

Tendam reported on Thursday that its sales rose 43.3 percent to 1.1 billion euros from March 2021 to February 2022, in line with pre-pandemic levels. Digital sales increased by 30.4% last year compared to 2020 and 95.6% more than in 2019.

Tendam’s shareholders are the redemption funds PAI and CVC.

Spain’s third-largest clothing group has 1,805 physical stores – 1,200 of which operate on its own – in Europe, the Middle East and Latama. It plans to open more in Mexico and Iberia, but not in China and the US due to excessive competition. It will also add more than 100 major brands such as Levis and UGG to its digital platform.

Russia’s Tendam physical and online sales accounted for 2% of its revenue before the invasion of Ukraine. They will remain suspended while the company decides whether to reopen or close permanently or to work through local partners as companies like Mango do.

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

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Corina Pons, editor of Aislinn Laing, Elaine Hardcastle reports

Our standards: Principles of the Thomson Reuters Trust.

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