Ferrari transcends being just a car brand; it embodies a lifestyle. John Elkann, the CEO of Exor, Ferrari’s parent company, emphasized this at a recent sports and fashion event. The question arises: Can any other car brand replicate Ferrari’s journey from the road to the runway?
Exor, the parent company of Ferrari, also owns Stellantis, which includes brands like Alfa Romeo, Maserati, and Citroën. Elkann expressed doubt that other brands could make the transition to lifestyle as Ferrari did. Starting in the 1940s, Ferrari ventured into luxury cars to fund its racing passion, establishing itself as more than just a car maker.
Jeep, on the other hand, stands out as a potential exception. Despite its distinct identity from Ferrari, both Jeep and Ferrari have been iconic since the 1940s. Jeep’s adventurous spirit could resonate with consumers seeking to embody an outdoor lifestyle. Jeep already offers apparel and accessories, including watches priced up to $1,500.
Elkann hinted at Jeep’s potential for brand diversification due to its strong identity and following, similar to Ferrari. However, there are no concrete plans for a Jeep fashion line at the moment.
While Ferrari’s luxury apparel is priced higher, it reflects the brand’s exclusivity and creativity. Using materials recycled from cars, Ferrari’s collections aim to be uniquely Ferrari. Elkann focuses on broadening Ferrari’s appeal, especially among female clientele, who already form the majority of clients for high-end fashion pieces.
In China, the potential for female sports car clients is growing, presenting an opportunity for Ferrari to expand its reach beyond Formula 1 fans and car enthusiasts. Elkann’s vision is to continue evolving Ferrari’s brand to attract a diverse global audience.
