Dressing the World
The Teddy Group was born from the ‘dream’ of its founder, Vittorio Tadei, in the sixties and this was to build a global business with a turnover that would allow them to not only expand and create jobs, but allocate some of its annual net profits to be used to help the less fortunate, through social work in Italy and abroad. Here we speak with Teddy Group CEO, Alessandro Bracci to learn more.
This dream is still the essence of the Teddy Group today; it remains their competitive strength and the driving force behind their business.
Last year, the Group’s purpose was also established, ‘Dressing the world in beauty with a warm, inclusive and welcoming approach, fostering personal fulfilment’. This further emphasises the importance of Teddy’s identity and the consistency of its corporate culture, continuing the journey that began with its founder.
Today the business operates four brands, Terranova, Rinascimento, Calliope and QB24. Terranova inspires customers to colour their life with a casual and spontaneous style, whilst Rinascimento is an ambassador for Italian fashion with a contemporary and feminine style. Calliope offers everyday glamour with all-Italian flair, suitable for work, leisure and special occasions and QB24 was created to accompany young men throughout their day and ensure they always look appropriate for the situation.
“Our goal is to offer consumers worldwide a complete collection of looks inspired by Italian positivity, beauty and creativity,” explains Alessandro Bracci, CEO of Teddy Group. “There is no other company in Italy’s fashion retail market with four brands that are so clearly differentiated in terms of consumer needs and this is our strength.”
For Teddy Group, innovation means meeting customer needs, even the ones that aren’t explicitly stated. They have created a ‘model customer’ and base all their actions on studying their behaviours and expectations. Creating a welcoming and authentic experience for guests is paramount and technology is a tool that helps them to achieve this.
Starting out as a traditional brick-and-mortar company, in recent years the Group has launched a digital business development plan because they recognise the importance of having a more robust business model and believe in an omni-channel approach centred on the customer.
Meanwhile, in the area of sustainability, the company has seen this ecological transition as an opportunity to build on their long-standing commitment to economic and social sustainability. This year they will conclude the first five years of their strategic sustainability plan, ‘Everyone Can’, through which they have made significant progress.
They are committed to three strategic goals: acting ethically and transparently (Act Right), reducing their environmental impact (Heal the Planet) and promoting dignity in the workplace and the well-being of communities (Care for People).
As our conversation moves onto the challenges and strategy of Teddy Group, Bracci highlights how challenges are now a constant feature of their business and that recent years have brought challenges that were previously unthinkable, such as the pandemic and widespread conflicts.
“The positive thing is that we have learned from these events and our mistakes. One of the biggest challenges is undoubtedly time: in a global and competitive environment, it is impossible to be as fast as you need to be,” explains Bracci.
“However, the strength of our brands, the effectiveness of our business model and the company’s financial solidity have enabled us to resume strong growth in challenging times. We are reaping the rewards of our ongoing investments in expanding our sales network and digital sector.”
Beyond any strategy, the CEO feels it is the bonds they forge that truly fuel their development. The relationships they have with the people who are part of their history – their employees, franchisees and customers. It is through listening, valuing talent and building trust that they create something lasting and something that goes beyond fashion and touches the heart of identity.
“Our glue, our distinctive strength and our long-term driver is Vittori Tadei’s ‘dream’. We rediscovered our origins by publishing the book “Il socio di minoranza” (The Minority Partner), which tells the story of our founder. We presented it to our employers with a roadshow visiting various sales outlets throughout Italy. The enthusiastic response from our people has been a driving force propelling us towards the future.”
As the company continues to grow and share its culture, training is one of the main ways they do this. They have a unique retail training centre which is housed in Italy and a real ‘gym’ where people can learn the trade. They also have a business academy called TEDDY500, which aims to help people grow and keep the corporate culture alive by updating it to the current context, ensuring the company’s longevity.
They attract new people by offering them the chance to stimulate their entrepreneurial spirit and by appealing to their desire to build something great with efficiency and creativity. They have also invested in clear career paths for all their employees, ongoing training and opportunities for corporate volunteering.
Discussing what comes next, Bracci comments that the business is very proud of the recent launch of Terranova’s new Riviera 2.0 concept store, which will be rolled out in ten countries by the end of the year.
The concept stems from a desire to evolve Terranova’s historical identity by reinterpreting the original pop spirit of the Rimini Riviera in a contemporary and vibrant way. The idea is that everyone is unique and Terranova wants to celebrate this through various interactive experiences.
“The goal is to create an immersive and positive experience that goes beyond the logic of a simple sales space, transforming the store into a place that inspires, welcomes and excites, offering an increasingly engaging customer experience,” comments Bracci.
“We believe that the next chapter of our history will see us evolve from the current one by extending our ‘Dress to Belong’ concept into new territories. Our aim is to achieve long-term growth, largely financed by reinvesting our profits and our purpose is what drives us, enabling us to continue growing and distributing value to the community.”
