From Corriere della Sera of 22/04/2026

Article by Emily Capozucca

Growth against the trend, investments in physical and online networks, and a strategy that puts people and corporate culture back at the center. Teddy Group, the Rimini-based clothing company with the brands Terranova, Calliope, Rinascimento, and QB24, closed 2025 with approximately 800 million euros in consolidated turnover and looks to 2026 with an expansion plan that includes 120 new stores and over 260 hires, of which about 60 will be between the headquarters in Rimini, Bologna, and Gatteo.

A path that fits into a difficult context for the fashion sector, marked by weak demand and declining consumption. Yet the company continues to grow: «Net of the Covid years, we have always been oriented towards constant development», explains Alessandro Bracci, president and CEO of the Teddy Group. After a +7% in 2024 and an expected growth of around 9% in 2025, the keyword for next year will be consolidation.

The expansion
In 2025, Teddy opened 115 stores, reaching 860 stores in over 80 countries. An expansion built over time, especially towards the East: from the Balkans to Central Europe, up to the Middle East, today one of the most relevant markets, accounting for between 15% and 20% of turnover. A dynamic area but also exposed to geopolitical tensions. «The problem is not only the end market, but the chain effect on the entire system: transport, energy, production. It is an interconnected world», the management observes. In this scenario, the group continues to focus on organic growth, avoiding acquisitions: «It is not in our DNA. Our strength is the corporate culture, and we want to preserve it».

The strategy
The strategy for 2026 is based on four guidelines: strengthening brand identity, investments in digital, environmental and social sustainability, and the development and training of people. On the retail front, 65 new openings are planned for Terranova, 40 for Calliope, and 15 for Rinascimento and QB24. In Italy, 30 direct stores will generate approximately 200 new hires. But growth does not only come through square meters. «Opening a direct store can mean investing up to one million euros: for this reason, we aim for balanced development», Bracci emphasizes.

Work in stores
One of the most critical issues remains work in stores. «At the very moment when people capable of creating relationships with customers are needed, it is harder to find them», the group explains. Retail, due to holiday hours and work in contact with the public, struggles to attract new generations. Yet, they remind us, «a store is a small company: it can turn over up to 2-3 million euros and offer real growth opportunities». For this reason, Teddy focuses on training and welfare: from the 2,200 square meter retail center to internal growth programs, up to initiatives for parenthood and economic support for its 4,000 employees.

Technology
E-commerce today still accounts for between 8% and 10%, but it represents one of the main margins for development. Investments will concern both proprietary sites and marketplaces, with planned expansions in Germany, Russia, and Southeast Asia. But the store remains central. «The great challenge is to offer something that online cannot provide: relationship, advice, experience», explains Bracci. «A smile or a “it looks good on you” said by a person cannot be replicated».

Artificial intelligence is also entering corporate processes, but gradually: «The point is not just the technology, but the culture. We need to train people to use it». 

Founded in 1961 by Vittorio Tadei, Teddy continues to be inspired by the founder's “dream”: to build a company capable of creating work and social value.

A vision that today translates into low turnover and strong employee loyalty. «We have grown not because of an extraordinary capacity of management, but because we have been able to intercept the desire of people».