MILAN — Ferrari is ready to unveil its new and first luxury men’s, women’s and children’s collections in June.
The Agnelli family holding Exor, which owns Ferrari, plans to stage a runway show that will be held in Maranello, Italy, where the Ferrari brand is headquartered, on June 13. It is expected to take place IRL, depending on the progression of the COVID-19 pandemic in the country and the rollout of the vaccines.
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Ferrari in November 2019 revealed it was launching a new lifestyle project, as reported, tapping designer Rocco Iannone as its brand diversification creative director. Iannone and his team are based in Milan.
Iannone is tasked with developing the creative content, design and image of all of Ferrari’s own and licensed women’s, men’s and children’s apparel and accessories collections and reports to Nicola Boari, Ferrari’s chief brand diversification officer. The line will be distributed through a new network of flagships and online.
The Ferrari apparel collections will be made in Italy, through a network of luxury suppliers, but contrary to what was announced in 2019, they will not be produced by Armani’s manufacturing sites under a long-term agreement.
Armani, however, has signed a multiyear sponsorship of the Scuderia Ferrari racing team, as reported. Under the agreement, the fashion house is to supply formal attire and travel wear to the Ferrari team’s management, drivers and technicians to be worn at official events and during transfers linked to Formula One’s Grand Prix international races.
Exor and Armani have recently waved away rumors about the former eyeing an acquisition of the Italian fashion group.
Earlier this year, Ferrari inked a license with Richard Mille for the production of high-end timepieces and an agreement to sponsor the brand’s Formula 1 race cars.
On the occasion of the launch of the collections, the storied Ferrari “Cavallino [the prancing horse]” restaurant in Maranello will reopen, led by Michelin-star chef Massimo Bottura and designed by architect India Mahdavi. Bottura, whose restaurant Osteria Francescana stands in Modena, a 15-minute drive from Maranello, has famously collaborated with Gucci on a range of projects, including the Osteria at Gucci Garden in Florence and on Rodeo Drive in Los Angeles.
Exor has been raising its fashion, luxury profile over the past few months, investing in March in the Christian Louboutin brand, and in Hermès International’s China project Shang Xia last December,
In his letter to shareholders earlier this month, Exor chairman John Elkann, grandson of the legendary Fiat tycoon Gianni Agnelli, wrote that “over the years, we have developed considerable knowledge about the luxury sector and our ownership of Ferrari has allowed us to understand better the art of building luxury brands. This sector is characterized by strong economics and durability. In 2020, it proved its strength and resilience and it is benefiting from strong market growth, particularly in China.”
Elkann pointed to the potential of Chinese consumers, who account for one third of luxury spending today, and are forecast to grow to almost half the total, with China becoming a market of around 95 billion euros by 2025. “We believe that both our luxury experience and our long-term horizon make us the ideal partner to support Shang Xia in its journey to greatness. In doing so, we will be building a 21st-century company that can complement and strengthen our existing ones, which were mostly founded in the 19th and 20th centuries.”
Elkann emphasized its engagement with Ferrari, “which has become our most valuable company” and reported that the board was “making good progress with the search process to identify the right leader who will guide Ferrari into a new era and on to even greater achievements.”
In a surprise move, Ferrari’s former CEO Louis Camilleri resigned his post in December for personal reasons and Elkann took over as interim CEO. As reported, Marco Bizzarri, president and CEO of Gucci, told WWD that he was not headed to Ferrari, contrary to media speculation.
Elkann also remarked on Exor’s 24 percent stake in Christian Louboutin, praising the “outstanding job” done by the designer and cofounder Bruno Chambelland “in creating one of the best-known independent luxury brands in the world,” resonating “with the principles of greatness that we look for in companies.”
“It has sought renewal and change, evolving from what once was a women’s shoe boutique in the heart of Paris in 1991, into a global business with an impressive presence and appeal in men’s footwear, a strong leather goods offer and an ever-increasing legitimacy in the beauty sector. Its unique design and brand positioning have made Louboutin one of the most distinctive brands in the luxury space.”