Ferrari plots global retail network

Luxury car marque Ferrari plans to open a global chain of retail outlets to exploit the success of its Formula One team by selling a range of merchandise.

The plans have been drawn up by the Fiat-owned company’s Swiss-based licensing arm, Ferrari Idea, as part of a strategy to develop the brand. Fiat is one of Italy’s largest companies.

Ferrari already has one shop, in Milan, Italy, but wants to expand the concept from concessions to a worldwide standalone chain. It is not known in which countries the roll-out will begin, but Europe, with its strong F1 links, is likely to be high on the list.

Last year, the company signed an exclusive deal with US toy giant Mattel to produce Ferrari toys, clothing, accessories and games in an estimated £72m five-year deal.

Ferrari is understood to be planning to exploit this deal as part of a drive into non-automotive sectors. Last month, Ferrari launched a financial services and insurance operation with US company Marsh & McLennan.

The Ferrari F1 team is attempting to win its first drivers’ championship since 1979. Its top driver, Michael Schumacher, leads the championship table with three wins out of three.

Comments

    Leave a comment