The iconic fashion house will produce the line of clothing of the prancing horse car manufacturer
Armani and Ferrari are two world-wide-famous icons of the Made in Italy and now the duo joined forces in a long-term agreement. The Armani group will produce Ferrari branded garments and accessories. This unprecedented synergy is, first and foremost, a celebration of the Made in Italy high-quality standards and excellence. In Ferrari CEO Luis Camilleri’s own words: “The one with Armani is a long-term agreement with which we want to raise the standards of all our products and focus on made in Italy.” However, this is not a co-branding deal and it concerns only the production. The apparel collection will be designed by a Ferrari team dedicated to the brand. The team, which will also manage all other brand activities, will be located in a new office in Milan.
The agreement between the company and Armani is part of one of the three pillars on which the Ferrari brand is based. Besides this, Ferrari will expand its entertainment offering, which currently comprises two museums in Italy and theme parks in Abu Dhabi and Barcelona.
The third category, luxury services, will include the opening of a restaurant with Michelin-star chef Massimo Bottura at Maranello headquarters.
“Today the market value of Ferrari brand products is estimated at around 800 million euros,” Camilleri said. He also announced a halving of the current licensing agreements and a 30% cut in product categories. From the brand diversification that includes fashion, entertainment, and luxury services Camilleri estimates a “10% of total profitability in 7-10 years.” Adding that “This is not just about profit, this is about enhancing the equity, vitality, and vibrancy of our brand.”