Terranova stores change owner

Idea Moda, the company that brought the Terranova brand onto the Romanian market seven years ago, stopped working with Italian-held Teddy SpA, owners of the brand “not only as a result of the financial crisis,” according to Dacian Demian, owner of Idea Moda. “There were other personal reasons, as well” that prompted Demian to let go of the brand and relinquish management rights to local company Emporio.

The low prices, the large number of products available in an area of several hundred square metres and the “trendy factor” made Terranova into one of the most sought after clothing brands in the 2005-2007 period for medium-income earners.

The brand lost some of its appeal when the standard of living rose and people turned towards new brands on the map of fashion, such as Zara, Mango, Promod, Pull&Bear, and Esprit.

Idea Moda had to rethink its business, and last year decided to close some of its unprofitable stores, where rent was too high, and revenues did not exceed costs.

At present, Idea Moda is in the process of handing over stores, with Terranova to be managed by Emporio, a company based in Constanta, which also held the Terranova franchise for four stores.