In 1902 Richard Steiff, Margarete's nephew, designed a toy bear made of mohair called Bear 55PB. 
Inspired by American President Theodore Roosevelt, the initially nameless bear received its name Teddy, which is still known today. Roosevelt refused to shoot a tethered bear during a hunting trip . The incident was captured by cartoonist Clifford K. Berryman and published in the Washington Post. 
This was the best publicity for our Teddy bear - the teddy boom began and the Steiff brand achieved worldwide recognition.