LOCAL insiders reported that the owners of Spanish distribution group Cortefiel, which operates the Women’Secret lingerie chain among others, are considering the launch of an IPO as an alternative to selling the business. In December 2013, the investment funds that own the group retained Goldman Sachs to find a buyer but no offer has been made that matches expectations. A local business newspaper reported that the IPO could be made in the second quarter of 2016. In 2014, Cortefiel declared sales up by 1 per cent year-on-year, to EUR 1.01bn, and an EBITDA of 98.6m.
Although the performance of the group’s outerwear chains has been less than exciting in recent years, its lingerie business, with stores in 62 countries, has been making very satisfactory progress.
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