By 2026, Ferrari aims to double its revenues in the lifestyle segment through luxury goods, the brand’s experiential parks, museums and collections.
Within the eve of Milan Men’s Fashion Week, Ferrari’s intention to help promote develop the brand’s Ferrari luxury lifestyle on Capital Markets Day was clear.
The presentation outlined many initiatives, from developing planet to investigating hydrogen fuel and reaching carbon neutrality by 2030, but building a high end lifestyle brand was handled by president John Elkann and Ferrari CEO Benedetto Vigna.
“Ferrari is in its core a high end company and by far the most distinctive and innovative luxury brand, and we view great opportunities ahead to help promote enhance the best of life,” said Elkann.
Vigna said that by 2026, Ferrari aims to double its revenues in the best of life segment through luxury goods, the brand’s experiential parks and museums and collectibles compared to 2019, but didn’t produce a breakdown.
“We’ve just touched the counter, and our lifestyle pillars can be used to delight customers differently as well as different moments. We’ve got strong legitimacy,” Vigna was excited. “You’re either fully engaged or you’re not and we exist. We only serve a small fraction of the $300 billion market. That is a unique possibility for make the brand relevant to a wider audience. Focus is the vital thing and we must address this with the proper partners and talent to make it happen. It’s a new world.”
During his executive speech, he greeted former Giorgio Armani and Pal Zileri designer Rocco Iannone, merely appointed creative director of Ferrari’s new luxury clothing and accessories collections in 2019, and former Pandora and Bulgari executive Carla Liuni, merely appointed chief brand officer earlier this week.
Ferrari is watching a rejuvenation in their loyal customer base and a 60 percent increase new collectors and a 25 percent surge in the average variety of cars from 2018 to 2022. This is seen as a potential new customer pool for your brand’s luxury fashion, along with key regions like Asia. “Women may also be increasingly involved, becoming our ambassadors and helping to influence purchases,” Vigna said.
He said the global appetite for luxury was growing, but he insisted that Ferrari produces “unique cars and different products”, adapting founder Enzo Ferrari’s slogan of providing “one car less as opposed to market demands” into the best of life section.
Vigna realizes that core Ferrari fans who perhaps simply wish a hat while using the brand’s logo shouldn’t be neglected. “We must be inclusive and exclusive and make sure the offering is similar to the brand.”
Ferrari held two fashion shows in 2009, the first on the company’s headquarters in Maranello, then in Milan during fashion week in February. Stating that the collections will likely be exhibited regularly in Milan twice a year, Iannone confirmed that he’s concentrating on his next show, which is located in September. It’ll be mixed again, the way it believes that your is the most appropriate format for the design and style message.
