Ferrari has entered into a new fashion collaboration with Giorgio Armani to drive more value from each brand’s heritage, the Associated Press reports.
“Jettisoning licensing that [doesn’t] properly represent Ferrari,” the new fashion project is engineered to refocus the brand equity and bring new vitality to the company, according to Louis Camilleri, chief executive officer, Ferrari.
The AP reports that Ferrari’s brand value is only recently being transformed into profit, climbing the ranks of Brand Finance’s most valuable luxury brands list from 350th (2014) to 7th (2019).
Ferrari will also be placing more emphasis on experiential, building on the two theme parks in Abu Dhabi and Barcelona, as well as the two museums in Italy.
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