Cortefiel

The Cortefiel Group is a Spanish clothing retailer, operating a multi-format network, from Springfield’s casual offering, Cortefiel’s classic styles and Women Secret’s lingerie. See how Permira helped it grow its brand...

Spain

Realised

The investment strategy

  • To continue developing the company’s online channel, which is a key focus
  • To expand globally through ongoing store roll-outs in the international franchise unit and through own stores
  • To strengthen the Cortefiel brand as the Spanish market recover

Milestones to date

  • Introduced and expanded its online offering to provide a wider range
  • Internationalised the operators, which now contribute around 50% of the profits
  • Introduced new business lines, including women's wear with the Springfield brand
  • Restructured its underperforming formats, factories and consolidated warehouses to improve sales and profitability
  • Improved working capital management, reducing inventory days therefore releasing cash

www.grupocortefiel.com

The metrics

2005

Acquisition year

€1,802m

Transaction value

2017

Exit year

0

eCommerce sales 2010

16,000,000

eCommerce sales 2014

Money Icon Money Icon Money Icon Money Icon Money Icon Money Icon Money Icon Money Icon Money Icon Money Icon Money Icon Money Icon Money Icon Money Icon Money Icon Money Icon

EBITDA from international

2010 - 15%
2014 - 49%