The Evolution of Ferrari: A Fashionable Spin

Ferrari ventures into the lucrative fashion industry. Photo: Ferrari.

Known for its luxurious automobiles, Ferrari also has its sights set on dominating the high-end fashion realm. The Agnelli family’s company unveiled its seventh collection in February at Milan Fashion Week in Italy.

The collection features silk robes, €950 sunglasses, and bags priced at €1,000. According to CEO Benedetto Vigna, the brand aims to nurture the next generation of customers who may not be able to afford their pricey vehicles but still appreciate the label, as reported by Financial Times.

Ferrari makes a significant investment in fashion with ambitious market conquest plans. Photo: Ferrari.

Diversification for Revenue Growth

Luxury brands are diversifying their product ranges to attract a wider audience and maximize the value of their long-established names.

High-end jeweler Bulgari recently appointed its first creative director for accessories. Meanwhile, fashion houses Fendi and Dolce & Gabbana have ventured into the furniture sector.

While Bugatti and Porsche have unveiled small fashion collections, Ferrari displays greater ambition by leaping from sportswear to upscale, luxurious apparel.

“Ferrari has hundreds of millions of fans worldwide. Only 1% of them become our customers. Luxury fashion caters to this consumer group,” says Maria Carla Liuni, Ferrari’s brand director.

Before introducing high-end fashion designs three years ago, the carmaker collaborated with retailers to produce clothing, shampoo, and fragrances.

However, in 2019, Ferrari decided to launch its private fashion line. Creative director Rocco Iannone, a veteran of Armani and Dolce & Gabbana, spent two years studying the brand’s identity and heritage before debuting his first collection in 2021.

Ferrari’s first collection, showcased at its car factory, grabbed attention. Photo: Ferrari.

Ferrari’s success in the apparel industry raises eyebrows among experts. Photo: Ferrari.

Question Marks on Success

Rocco Iannone’s challenge in creating Ferrari’s fashion line is the brand’s lack of a fashion history and heritage. The label has no archives or legacy customers, requiring the creative director to build a new foundation.

Iannone’s first collection drew inspiration from a photograph capturing two Italian film icons, Anna Magnani and Monica Vitti, driving a Ferrari in the 1960s.

However, the initiative’s success remains questionable. According to Luca Solca, head of luxury goods at financial advisory firm Bernstein, it’s a tough battle for Ferrari.

Analysts doubt the profitability of the fashion line, as Ferrari does not disclose its revenue from this venture. Some suggest that the business may not be as successful as the brand had hoped.

For years, Ferrari has maintained a diverse product offering beyond automobiles. High-end fashion designs and affordable sportswear coexist on the brand’s sales channels.

Since taking over as brand director in 2022, Maria Carla Liuni has been investing heavily in fashion lines, continuously recruiting experts in this field.

In addition to its Italian stores, Ferrari plans to open fashion boutiques in London and New York by 2026.

However, Luca Solca remains skeptical about the connection between Ferrari’s fashion offerings and its legendary supercars. Jewelry brand Bulgari uses its iconic serpent imagery on the zippers of its bags when developing accessories. Tiffany & Co. opens cafes, evoking the familiar setting of the film Breakfast at Tiffany’s. But Ferrari’s brand story remains untold.