A rewarding year, not just in terms of business but also of sustainability and people. Despite the challenges and the important historical events that hit Europe, 2022 was a year bearing exceptional results for all of us at Teddy Group



This is
us: Teddy

We are a fashion retailer with an Italian soul, four clothing brands and a big dream to be spread worldwide. Our goal is to dress people and we do it through the brands Terranova®, Rinascimento®, Calliope® and QB24®. Each brand mirrors Teddy corporate culture and passion for creativity and beauty. We want to become an international top player in the industry, thus making our Dream come true.

We do not just manufacture products, as we also have the ability to distribute them, offering unique added value. We love doing business together with other entrepreneurs and our distribution models are developed thanks to our partners, as it proves our 60-year-long history.

Customers and their wishes have always been at the core of our actions. They are the reason for us to implement our omnichannel approach and invest increasingly more in the development of new digital channels, in-store and online services, drawing inspiration from the needs and behaviors of our customers.

Teddy Group brand portfolio

Terranova, color your life!

POP, sunny, made with creativity, ideas, passion and enthusiasm, drawing inspiration from the models of inclusivity typical of Rimini Riviera.

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Be yourself with us

A posh womenswear brand, but with a rocker soul, dressy and versatile, the expression of femininity with a hidden drive and the awareness of being a strong woman

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Embrace wonder

Modern and up-to-date, designed to inspire people to show their own personality, a brand based on the search for innovation embracing wonder and incapsulating it

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Quanto Basta per esprimerete stesso fino in fondo

QB-Quanto Basta (“All You Need”) as a search for the essential and the will to be yourself, yet not over-dressed, but with a distinctive personality.

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challenging year


2022 was an important year for our corporate group, despite all the difficulties due to the current geopolitical situation, with war in the heart of Europe caused by the Russian invasion of Ukraine, which led to global aftermaths. Food, economic and energy crises, higher inflation, an increase in the prices of natural gas and food in general. The climate change added to such a serious situation, which led to long periods of drought, with a negative impact on agricultural productions.


Despite such a challenging situation, 2022 was our best year for results. 671 million Euros: it is the highest turnover Teddy Group has ever reached.

However we are not just talking about financial success. At Teddy we have always held dear and cared for all the people who work with us and paid a special attention to sustainability. In 2022 we intensified our efforts to promote sustainability and were awarded the title “Best Managed Companies" by Deloitte.



Apparel, shoes and accessories designed by Teddy Group reach people through our four brands: Terranova®, Calliope®, Rinascimento® and QB24®.

Each one of them has its own features and styles modelled on each target market. Thanks to the 803 single-brand points of sale operating in Italy and abroad and 3 e-commerce websites operating in 32 markets, our brands reach a wide and diverse audience, meeting the needs of each customer.

Furthermore, our brands Rinascimento® e QB24® target customers also through multi-brand stores, distributing their products in over 80 countries.



We close our best year ever with a turnover totaling 671.2 million Euros, recording +24% compared to year 2021. The gross operating margin (EBITDA Adjusted) hit 79.6 million euros, further confirming the great results achieved in the year.

The growth recorded by Teddy Group is important as it exceeds the industry average rate (+18% according to the Fashion economic trends of the National Chamber for Italian Fashion) and drives us back onto a path of continuous growth, which had been halted by the COVID pandemic crisis in 2020, outperforming pre-pandemic consolidated revenues by 8.1%.

The Italian market is the one with the largest share in the total turnover, accounting for 61% of it. However, even the growth of revenues in foreign markets is still steady and brisk, recording +20.6% compared to the previous year.



We grew, Teddy family grew compared to 2021, welcoming 106 new persons, 106 dreams joining our big Dream. The 3,269 people belonging to Teddy big family in the world are located in Italy (67%), Europe (32%) and Asia (1%). We are so many, and we aim at being more and more.



Our journey to grow and develop into a new business model, future-proof, made some great steps forward even in 2022. As Teddy Group, our aim is to build an increasingly more sustainable company, improving our way of doing business to guarantee a more virtuous management, protect the environment and value people working inside and outside the corporate group.

We believe that each company and each one of us has the opportunity to do the right thing, change a small habit to make the world we all live in a better place. This is a principle we fully integrated in our business philosophy in order to achieve tangible results.

Our efforts will be focused increasingly more on the reduction of the environmental impact of any activity and process within the entire production chain, having environmental sustainability as the driving force of our corporate strategies. We work to reinvent the way in which we design our products as well as to rethink packaging, our stores and our logistics management.

Our sustainability plan “Everyone Can 2021-2025” provides for over 200 actions to reduce the environmental impact of our corporate group and acts as a guide for our future choices.

The main progresses made in 2022 in terms of sustainability


Formalization and governance of our commitment

In 2022 we published a sustainability report for internal use with the aim to improve the culture of our collaborators on social and environmental topics, thus laying the grounds for the accountability process in order to be ready to publish our first public sustainability report in 2023. Furthermore we integrated a public section on our corporate website where to show our efforts.


Reducing the environmental impact of our business to save the planet

We increased the amount of more sustainable raw materials used in our collections, with the aim of achieving a quota of 30% of the overall volume within 2025. We worked on our plan to reduce our CO2 footprint, submitting our goals to the Science Base Target Initiative and increasing the use of renewables by 95% in our offices and directly-operated stores in Italy. Then we kept on involving our production chain in a path promoting a more responsible use of chemicals, following the guidelines and protocols of ZDHC (Zero Discharge Hazardous Chemical) international program.


Improving the social aspects of the supply chain

Our aim is to encourage more and more our supply chain as to make it develop and focus on all the social aspects required by the Code of Conduct. In 2022 we resumed on-site inspections as provided for by the social compliance program; at the same time, we set stricter minimum requirements a supplier has to meet to join Teddy Group supply chain.


Satisfaction and growth of employees

In 2022 we already carried out two surveys on the mood of collaborators in our offices and launched some projects whose aim is to take action to improve the satisfaction of our collaborators. We continued the project “Piani di Crescita”(Plans for Growth) in order to make all the positions at Teddy have a training path and a salary in line with the skills showed and with the market benchmarks.


The Corporate Citizenship Scheme

Launched in 2022, the Corporate Citizenship Scheme is the implementation of our Sustainability Scheme. Thanks to the project we promoted initiatives to engage collaborators, donation campaigns and supported charitable organizations.

Teddy Group logistic hub in Gatteo


Despite the ever-greater propensity to online purchases in the latest years, brick-and-mortar stores still are a key touchpoint with our customers, essential to our brands. However, both the sales channels contribute to improve brand reputation. Therefore, Teddy launched an ambitious investment plan in the digital sector tools in order to make our brands grow more and more in Italy and abroad.

Following the upturn in consumption and the opening of new stores, we worked to implement and consolidate Teddy online presence. However, our work on digital tools is not just focused on our online presence and e-commerce platforms. The digital team of Teddy Group aims at developing new tools and platforms that may help customers to have a better experience in our stores. An increasingly more hybrid approach between physical and digital dimensions that allows the e-commerce to be in close contact with the point of sale.

Last but not least, the mobile apps that are regularly updated by our digital team in order to guarantee constant accessibility and transparency to our customers. New features are added every day to make user experience smoother and easier.



The Corporate Citizenship Scheme launched in 2022 certainly helped us to achieve the extraordinary results recorded in 2022, as it truly implemented our Sustainability Scheme. It is a project especially dear to us as it talks about the social commitment Teddy Group has always demonstrated since the time there was only one small shop in Rimini.

The actions we carry out to support the underprivileged go from the Corporate Food Drive we organize for the Italian charity Banco Alimentare to the donations to charities helping children and young people with their training and study needs. In 2022 we managed to promote two Food Drives within the company, involving also the points of sales, besides our offices; thanks to the call “Teddy sostiene chi ti sta a cuore” (“Teddy support the ones you care for”), we contributed with donations to 10 volunteer organizations selected among those suggested by our own collaborators. Throughout 2022 we organized 4 volunteering and charity events in which people working at Teddy were directly involved.

However, that is not the end of our scheme. Besides the activities involving our employees, Teddy Group implement a set of direct actions to support the underprivileged through donations to charitable organizations. Over the years we have helped over 7,000 young people and children thanks to the 6 projects we support in the fields of education and training.

One of the key points of our Dream is to “[…] use, every year, a part of the net profits to help weaker people, thanks to charities operating in Italy and abroad”, which is what we try to do better and better every year.