Sportscar maker Ferrari has allegedly announced a fashion collaboration with Giorgio Armani, this collaboration is a part of Ferrari’s long-promised strategy, which is aimed to squeeze more value out of the storied company’s allure.
Speaking about the announcement to collaborate, CEO, Ferrari, Louis Camilleri said that the brand is now aiming to earn 10% of earnings before interest and taxes in 10 years span from three defined brand extension areas namely, apparel, entertainment and luxury services.
Camilleri, said in a statement, “This is not just about profit, this is about enhancing our brand equity and the vitality and vibrancy of the brand.”