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The five secrets to Ferrari’s success as a luxury brand
  + stars: | 2024-07-04 | by ( Robert Frank | ) www.cnbc.com   time to read: +10 min
In this article RACE-IT Follow your favorite stocks CREATE FREE ACCOUNTwatch nowIn the world of luxury, Hermès is arguably the gold standard. Analysts predict Hermès could surpass Louis Vuitton in revenue within the next three years as the world's largest luxury brand. There is one luxury company, however, that has raced past Hermès when it comes to growth and brand cache – Ferrari. To better understand what makes Ferrari a luxury brand, CNBC traveled to Ferrari headquarters in Maranello, Italy, to interview the company's CEO, Benedetto Vigna. "A luxury company is a company that is using technology, innovation, storytelling, heritage, everything, with the ultimate goal to feed that emotional side that we all have."
Persons: Birkin, Louis Vuitton, Hermès, Enzo Ferrari, Ford, Ferrari, Bernstein, Luca Solca, Benedetto Vigna, Robert Frank, Vigna, Adam Jeffery, Solca, Ferraris, Martyn Lucy, Bernard Arnault, Crystal Lau, Francesca Volpi Organizations: Ferrari, New York Stock Exchange, General Motors, CNBC, Ferraris, Goodwood Festival, Getty, Spiders, Rolex, Hermès, Bloomberg Locations: Maranello, Italy, Geneva, Chichester , England, it's, California, Roma
CNN —The Suzuka Circuit was a hive of activity on Thursday as the Formula One four-time world champion Sebastian Vettel got to work on his latest environmental project ahead of the Japanese Grand Prix this weekend. The campaign, named “Buzzin’ Corner,” also involved current F1 drivers customizing the hotels while the kerb at turn two was painted yellow and black. “I want, with this project, to create awareness about the importance and the subject of biodiversity,” Vettel told the F1 website. Vettel invited the paddock down to the corner to observe and decorate the hotel constructions, with the drivers and team principals happily obliging. Vettel gathered the drivers, team principals and F1 CEO Stefano Domenicali together at "Buzzin' Corner."
Persons: Sebastian Vettel, Vettel, , ” Vettel, , That’s, Mark Thompson, Williams, Bull, Stefano Domenicali, Issei Kato, Lewis Hamilton, who’s, Hamilton, “ It’s Organizations: CNN, Silverstone, Goodwood, McLaren, Reuters Locations: Austria, British
This year wasn't about which auto manufacturer stock performed the best. All major automakers and EV startups experienced double-digit declines this year – partially or completely offsetting their gains in 2021. Many once-promising EV startups were among the biggest losers, as some ran into capital troubles or couldn't scale production as quickly as anticipated. Traditional automakers were able to temper their stock declines better than the EV startups. But America's largest automakers – General Motors and Ford Motor – both experienced declines of more than 40%, barring any surprise rally to end the year.
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