Parent company of fast-fashion brands Rinascimento, Terranova posts stable results for 2018
today Aug 2, 2019
Italian fast-fashion group Teddy, parent company of the Terranova, Calliope, Rinascimento and Miss Miss brands, closed 2018 with a revenue of €642 million, the same as in 2017. At constant exchange rates, the group posted a 1.3% growth. Adjusted EBITDA was €77.2 million, equivalent to 12% of revenue.
Taking into account the gross margin generated by the group’s client stores, both affiliated and multibrand retailers, the retail value of the sales produced by the group’s brands worldwide reached approximately €1.139 billion.
Growth on the Italian domestic market was satisfactory: sales were worth €336.9 million, up 9.3% over 2017, and accounted for a 52.5% share of the total, up from 47.3% the previous year. Teddy continues to expand internationally, and in 2018 the group opened 90 new stores in 14 countries.
As for the group's various brands, Terranova deployed its ‘Welcome’ store concept, inspired by the hospitality for which the Rimini area, where the group is based, is famous, in 35 stores in 11 countries. Calliope, after introducing lingerie, launched a children’s line in early 2019. Rinascimento continued to broaden its retail footprint by opening 54 new stores, plus another 37 with the ‘Fits You’ concept, which offers clients a special affiliation formula which guarantees customised services to the group's partners. Altogether, 73.9% of the Teddy group’s stores are franchised. Through the wholesale channel, the group’s brands are available at 6,000 multibrand retailers in 91 countries.
In the 2018 financial year, the Teddy group invested €32.3 million in retail development and marketing initiatives, and €1 million in personnel training. The group is among 70 Italian medium/large companies which increased the number of their employees by at least 30% in the 2008-2017 period, recording a 314% increase (source: Affari & Finanza/Ufficio Studi Mediobanca). The group’s investment in employee welfare initiatives, like the company crèche, and in community social projects, was equivalent to 4% of its profit.
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