Spanish fashion retailer Cortefiel unveils new name
Chief Executive Jaume Miquel revealed the new name and logo at the World Retail Congress in Madrid on Tuesday morning at a special press conference.
“We’ve concluded a process of transformation,” Miquel told the Congress in a presentation alongside World Retail Congress Chairman Ian McGarrigle.
The retailer said it developed the name with brand agency Interbrand and tested it in different countries and different languages like English and Japanese.
Miquel said that the company would keep the names of its fashion label Cortefiel, upmarket label Pedro del Hierro, underwear chain Women’secret, men’s wear chain Springfield and Fifty.
However, Miquel declined to comment on reports that the retailer intended to list on the stock exchange this year. He said it would publish its results in June in keeping with its commitments to its stakeholders. It has reported positive like-for-like sales over the last four years and the name change forms part of a wider transformation of the business since he took the helm. Online sales currently account for 6%, he added.
“We wanted to find a name that works globally,” said Gonzalo Brujo, Global Chief Growth Officer and Chief Executive for Interbrand for EMEA & LAtAm. The name was inspired by the words “tandem” – to suggest team and group work, and “trends”.
“We want the brand to be as memorable as possible, “ said Brujo.
The logo is blue – “a European colour”. “In the world of fashion, blue is the colour that best goes with everything,” said Brujo.
The E of the logo contains a star to suggest the idea of the brand evolving and continuing its expansion.