In a recent announcement, Ferrari, an Italian luxury sports car manufacturer, has stated that it aims to expand its brand's luxury by bringing its Prancing Horse brand to the catwalk to woo wealthy customers beyond its faithful fans. Ferrari, which is mostly renowned for its Formula One racing team and high-powered sports cars in partnership with the CavallinoRampante logo, is launching a new fashion collection brand.
Besides, it is also reopening a restaurant in its hometown of Maranello. The luxury car manufacturer has stated that the clothing line comes from creative director and former Armani designer Rocco Iannone, while Michelin-starred Italian chef Massimo Bottura is launching the restaurant. Ferrari's foray into Hauteluxury fashion follows the footsteps of several other brands, including France's LVMH and Kering's Gucci, which also turned to Bottura for its first restaurant in Florence and Beverly Hills.
Ferrari's Chief Executive Officer Louis Camilleri unveiled the brand extension strategy, which includes fashion, restaurants, and other luxury experiences, in 2019, just before the pandemic struck and delayed the plans. Now, the company is relaunching its fashion and restaurants in its hometown and many other countries.