Last year, for the first time since 2014, Tempe posted annual sales of less than €1 billion due to the impact of the Covid-19 pandemic. The company booked revenues of €997 million, down by 28.7 percent from 2019, and a net profit of €62 million.

The gross margin widened to 25.7 percent from 24.8 percent the previous year, but Ebit dropped 43 percent to €71 million.

Tempe is 50 percent owned by the Spanish fashion and retail group Inditex. The remainder of the capital is in the hands of the businessman Vicente García Torres. The company develops and distributes shoes and accessories for Inditex’s brands, including Zara, Pull & Bear and Massimo Dutti. Tempe is registered at Inditex’s headquarters in Arteixo, Spain, but its main offices are in the footwear cluster of Elche near Alicante.