Ferrari may be synonymous with some of the world’s finest race cars, but the iconic company is set to extend its repertoire to fine dining and high-end fashion.
The prancing horse has reportedly partnered with Giorgio Armani to offer a refined clothing collection as well as joining forces with Michelin-rated chef Massimo Bottura.
An edited range of clothing and accessories embodying style and creativity will be part of the premium Italian collaboration.
“Our current offerings are too stretched and are in danger of diluting our very precious brand equity,” Ferrari CEO Louis C. Camilleri said according to Business of Fashion. “We will reduce our current licensing agreements by some 50%.
“We will also eliminate some 30% of the product categories in which we participate.”
Ferrari hinted it would be producing evergreen products as opposed to items that favour seasonal fashion trends.
“Made in Italy will be a key focus and we will exert full control over the design, quality and pricing of these products as well as their distribution, which will include a complete overhaul of our own stores and a revamp of our ecommerce platforms,” Camilleri said, according to Penta.
The fashion venture follows its recent appointment of Rocco Iannone, who is now Ferrari’s Brand Diversification Creative Director. Iannone was previously Head Men’s Designer at Giorgio Armani and a designer at Dolce & Gabbana.
And in case designer clothes aren’t your forte, the luxury automotive company is venturing into hospitality with none other than Italy’s most awarded chef. Ferrari plans to open a restaurant – yet to be named – at its Maranello, Italy headquarters by the end of 2020, to replace Ristorante Cavallino, Terra reported.
While the Prancing Horse is a world leader in automotives, culinary expertise is what it lacks. But with Bottura on side, who owns the famed Osteria Francescana, the restaurant is expected to be utterly irresistible.
Both moves attempt to increase the value of the ‘Made in Italy’ label by making more exclusive, highly sought-after products.