Ferrari Expands Its Empire

Filed Under: Business Blitz

Ferrari may be considered one of the world's premiere car brands, but the company is currently work to broaden their horizons.

The brand is pouring money and effort into expanding their clothing and lifestyle products, which run the gamut from baseball caps to skis.

Ferrari has enjoyed $2.6 billion dollars in retail sales, prompting them to make plans to expand their store count from the current 30 up to 50 by 2011.

Massimiliano Ferrari (no relation), Ferrari's licensing and retail manager, said, "For me, what sets Ferrari apart from other brands is that people start loving it when they're kids, because don't most children own a Ferrari car model?"

The first Ferrari shop opened seven years ago in Maranello, Itally, with prime locations following shortly thereafter in Rome, London, San Francisco, Macau, and Barcelona.

Globally, Ferrari is opening a 4.9 million-square-foot theme park in Abu Dhabi next year, which will offer a multisensory experience with over 20 attractions including what is promised to be the world's fastest roller coaster. Seems appropriate for the brand - what a good idea!

Though much of their efforts are focused abroad, here in the States they are making changes as well. The brand is making-over its 5,400-square-foot Park Ave showroom, transforming the spot into a retail store within the first half of 2010.

Massimiliano said, "We decided on a very selective strategy in New York, which will become a destination point for owners and aspirational ones. The offering will be cooler and less touristy than the one in other venues."

As far as the products the brand sells other than cars, there is a wide array of sports gear, toys, clothes, and so on.

Will you buy Ferrari products? Or would you rather the company just stick to cars?

[Image courtesy of Ferrari.]

Posted: December 30, 2009 at 12:00 pm