Since the Maranello-based company does not go into detail about the financial results of the venture, the Financial Times gave us an idea. And the impression, alas, is not a positive one.
Ferrari’s intrusion into fashion
As anonymous analysts with the FT observe, the fact that Ferrari has never published detailed results for its fashion line since 2021 (when it presented its first collection), as other listed companies do, “suggests that business is not going well, or at least not as well as expected”. From the parent company they say they are convinced of the possibility of transforming the power Ferrari has over customers in other sectors into fashion.
“Luxury is one arena of competition, and we are all fighting for the same customer, who is very discretionary in his spending”, says Ferrari’s chief brand officer Maria Carla Liuni. “The personal goods market is the most interesting one: we have hundreds of millions of fans around the world”.
The (perhaps not) communicating vessels
It’s not easy, acknowledges creative director Rocco Iannone, to transfer into a collection of clothes and accessories a prestige earned with pistons and bodywork. The first collection, he tells FT, was aimed at Gen Z kids and Asian customers, while now the brand is progressing: “The goal is to expand the brand beyond the fanbase. The challenge is to create a narrative about history and heritage, but without having an archive and an established customer base”.
Yes, because imagery and clientele are related, but four wheels and fashion are not communicating vessels. On the contrary. “From my point of view it remains an uphill race – concludes Luca Solca (Bernstein) -. One of the problems is that for a brand that sells products with a really high average price, such as Ferrari, Porsche and Bugatti, it is difficult to succeed in lower average price categories without giving the impression of selling gadgets”.
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