According to Mr. Boari, the ready-to-wear collection is also a way into new markets, especially those that are younger, female and mostly Chinese.
He said that Ferrari’s fashion sights are set on distant dividends, on slow growth that will sprout in seven to 10 years, eventually contributing 10 percent of the brand’s earnings.
(Ferrari, one of Italy’s most valuable public companies, had revenue of nearly $4 billion in 2020 despite the pandemic and a seven-week factory shutdown.)
“But if our concern were just profits, we’d stick with licensed goods, which are extremely profitable,” Mr. Boari said.
“It’s about changing a licensing model into a controlled model,” Mr. Elkann said.
Boari, Mr, Emanuele Farneti, Ferrari, Farneti, he’d, Luisa, London’s, Enzo Ferrari, India Mahdavi, Massimo Bottura, “, Elkann
Vogue Italia, McKinsey, Luisa Via Roma, Ferrari