Teddy, the success of Italian fast fashion: revenues up 7.5% in 2024

No self-celebratory campaigns with the 50 most famous (and paid) models of the last decades, immortalized by the “photostar” Steven Meisel, chosen by Zara (Inditex) to celebrate 50 years. No sensational collaborations with great stylists of the present or the past, as often done by H&M, the Swedish giant that has always rivaled the Spanish Inditex.

The Teddy Group, which we could define as the Italian way to fast fashion, together with Ovs (Benetton has unfortunately been out of the game for some time), has had a strategy and vision different from those of the two large European groups for many years. The only similarity is that the Italian company is also present on the market with multiple brands – Terranova, Calliope, Rinascimento and QB24 – and stores dedicated to each brand (now 859).

In 2024, the path chosen by the Teddy group proved to be a winning one: revenues grew by 7.5% to 735 million and the increase on the Italian market alone was almost double (+13%). Of course, the context caused margins to decrease, also because investments increased (primarily in training, environmental and social sustainability and stores, reaching 27.4 million, 2.1 more than in 2023) and employees, which grew by 6.8% to 3,720, 71% of whom in Italy with an average age of 32. Profitability was affected by strong increases in transport costs (+70% on 2023, equal to 27.3 million), investments in digital channels and obviously by the geopolitical uncertainty that does not help any type of consumption, including clothing.

"The strength of our brands and the effectiveness of the business model, combined with financial solidity, have allowed us to resume a strong growth trajectory in a challenging context", comments Alessandro Bracci, president and CEO of the Teddy Group. Then there is a component that is difficult to measure, linked to Vittorio Tadei, who founded the group in 1961 in Rimini. "A visionary entrepreneur, who wanted to give the company a mission that went beyond the simple production of clothes - adds Bracci -. When no one else was doing it, over 60 years ago, he talked about the dream of creating a company that also had a greater purpose, aiming for sustainable growth and the valorization of people". For 2025, despite the context, the Teddy Group estimates it will continue to grow, confirming the founder's long-term vision.