From “Start Franchising - July 2026”.
Interview by Livio Oggero

The commercial affiliation formula is not just an expansion model, but a true partnership philosophy based on the sharing of values, innovation, and mutual success in the markets. This is franchising according to the Teddy Group.

Luca, let's get to know each other better: your professional background in brief.

"After studying at a scientific high school and graduating in law, in May 2012 I started working for Teddy Group as a Country Development Manager. Over the years, I have been responsible for the development of the Calliope and Terranova brands in various geographic areas, including Central Asia, the Caucasus, the Balkans, Poland, and Southern Italy. In 2017, I also took on the role of Head of Technostructure within the Development office, a position I held alongside that of Country Development Manager until 2022. Since 2023, I have held the role of Global Development Director."

Teddy Group and Franchising: what kind of combination is it, and how do you structure it, looking at your affiliates?

"The consignment franchising formula was used for the first time in 1988 and represents a foundational element of our history and our growth. Franchising is the winning union between our know-how and the local partner's expertise. It is not a financial lever, but a strategic one: the franchisee guarantees a presence in the territory and a market knowledge that only a rooted entrepreneur possesses. We grow together thanks to this constant cross-pollination of skills, with the awareness that there is no business without risk, but our franchisee faces it in a calculated way because they only pay for what they sell, without the worry of unsold inventory, which remains the responsibility of the Teddy Group. Furthermore, Teddy is responsible for selecting the samples and restocking, thus giving the affiliate the opportunity to drastically lower internal structural costs. As for the economic return, the affiliate can count on a good economic return compared to the investment made, considering that the franchisee does not run the risk of unsold merchandise, as it falls on Teddy. The profitability assessment of the business is calculated on the capital that the affiliate invests for the creation of the point of sale (from 20% to 40% annual profitability based on the investment), in relation to the characteristics and the country where the store is located. The margin calculated on the revenue for the franchisee always remains unchanged, even during the sales period."

What are the Teddy Group's numbers in Italy?

"The Teddy Group in Italy, as of December 31, 2025, has 584 stores, divided as follows: 165 Calliope, 273 Terranova, 124 Rinascimento, 40 Rinascimento Fits You. Added to these are 18 Terranova outlets, 15 Calliope outlets, and 4 QB24 stores." All these Italian stores are part of the 933 stores present in 44 countries worldwide.

Who is your typical affiliate?

"We are looking for entrepreneurs with a long-term vision, financial stability, and the ability to manage teams. Thanks to our consignment formula, experience in fashion is not binding: we take care of the product and strategies. The ideal candidate is an investor capable of organizing the business following our standards of excellence."

What is your relationship with your affiliates?

"Our franchise model was created to value people who want to build something great together with us. Today, 162 entrepreneurs in Italy and abroad have chosen to share this path. We offer a solid and proven system that guarantees continuous support and effective tools, but we leave room for the initiative and entrepreneurial spirit of those who become part of our ecosystem. We accompany every partner with skills, training, and a shared vision. Opening a store with Teddy Group brands is an opportunity to experience the clothing market as protagonists, combining innovation and personalization. We can certainly state that our results today are also the fruit of the solidity of this model, which has allowed us to expand our presence abroad in many countries, establishing long-term relationships with our partners based on trust, shared goals, and growth."

What is your focus on the end customer?

"Terranova, Rinascimento, Calliope, and QB24 are the brands that make up the Teddy Group. Each with its own soul, its own style, and a unique way of interpreting fashion. Together, they carry forward a shared vision: to offer accessible garments, rich in identity, and designed to generate a sense of belonging."

Your opinion on the world of franchising in your sector.

"The world of franchising in affordable clothing is characterized, at least regarding the Italian market, by a significant number of players. It is a market in which, on the one hand, there is certainly room to grow and make a profit, and on the other hand, alongside the growing complexity of the competitive environment and the income statement cost structure, it has become further polarized over the last few years. Looking at the numbers, the picture shows a small number of players who continue to gain market share (including us), and a large portion of medium-small sized companies struggling in this complexity. For this reason, I believe it is absolutely fundamental for an entrepreneur to study and inform themselves thoroughly before deciding on the company to start collaborating with."

The Teddy Group, which strongly believes in development: if I say "future," what does this word bring to mind?

"For me, the word 'future' represents the exciting challenge we experience every day in trying to grow our network globally, constantly increasing the points of contact with our customers. To date, we are present with our retail network in over 40 countries around the world, and there are many more to 'conquer'. The vision is to be able to do this together with our partners in a way that is sustainable and allows us to be recognized and recognizable as one of the leading companies in our sector. As our founder – Vittorio Tadei – used to say, great opportunities can arise from complex moments and great challenges."