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11 June 2021
Ferrari seeks lifestyle brand position with fashion line
Brand extensionsLuxury clothing & accessories
Already associated the world over with the epitome of style and sophistication, Ferrari is aiming to take its brand into the world of fashion.
Its ready-to-wear collection, which is aimed mainly at the young, will sport plenty of Ferrari logos, including, of course, the brand’s famous Cavallino prancing horse, and the name “Ferrari” worked into knitwear and shirts. The collection will be launched on a real-world catwalk event in the supercar maker’s home of Maranello, the FT reports.
The launch event, on June 13, will coincide with a “Ferrari Experience”, inviting guests into the brand’s new fashion boutique. Items in the collection, which Ferrari is stressing is made in Europe, range in price from €120 for a T-shirt bearing the Ferrari logo to €3,000 for a coat with a hood. The collection is aimed across the board at men, women and children, but has an emphasis on the younger fashion buyer.
Moving into fashion is part of a wider plan of Ferrari’s chief brand diversification officer Nicola Boari, to “reach out to a wider audience and create business opportunities that are meaningful”. Boari says the company is entering the fashion sector “as a lifestyle brand [which will be] integrated with the core business”. And it follows Ferrari’s earlier announcement that it aims to increase the non-motorsport side of the business to around 10% of total company profits within seven to 10 years.
The launch also comes hard on the heels of Ferrari’s controlling shareholder, the Agnelli family’s holding company, Exor, taking a 24% stake in luxury shoemaker Christian Louboutin for €541, along with an €80 million majority stake in the Chinese luxury brand Shang Xia.
Ferrari is certainly not the first car marque to step into the world of fashion – Mercedes-Benz collaborating with Louis Vuitton designer Virgil Abloh is one example; but Ferrari’s dedicated fashion line with an eight-strong, in-house team of designers is something quite new.