Ferrari plans to capitalize on its identify, its brand, and its picture to extend its income through the 2020s. The storied Italian model introduced a sequence of ventures that can take it exterior of the automotive business, together with a brand new restaurant.
The yet-unnamed restaurant will open in Maranello, Italy, the agency’s dwelling city. Ferrari peddles horsepower, not Italian delicacies, so it’s becoming a member of forces with chef Massimo Bottura to leap into the meals enterprise. The 57-year previous Bottura owns and runs a restaurant known as Osteria Francescana that’s positioned a stone’s throw from Ferrari’s headquarters, and he earned a coveted three-star score from Michelin, so he’s match. You didn’t assume Chef Boyardee would put collectively the menu, did you?
Talking of, Ferrari hasn’t revealed what it can serve in its restaurant but. It should hopefully be car-themed, with memorabilia-lined crimson partitions, tables made utilizing previous V12 blocks, Recaro bucket seats, and motorsport-inspired dishes. We’re trying ahead to ready a yr and a half for the chance to take a seat behind a plate of GTC4Lasagna.
Ferrari may also increase its presence on the planet of vogue by means of a newly-minted partnership with Giorgio Armani. The agency already presents a rising line of Prancing Horse-branded garments and varied equipment, however the tie-up will spawn extra upmarket merchandise. “The carefully-chosen array of attire merchandise and equipment will embody the model, creativity, and high quality that we stand for as a model,” pledged CEO Louis Camilleri throughout a name with analysts.
Diversification is a method for Ferrari, which gained its independence from Fiat in 2016, to extend its income. Camilleri expects gross sales from non-automotive tasks like pasta and pants will characterize about 10 % of the corporate’s income within the subsequent seven to 10 years. “It’s our intention to extend the scale of the cake, and our share of the cake,” he summed up. That’s a metaphor, nevertheless it may tackle a extra literal that means if Ferrari’s restaurant places an F8 Tiramisu on its dessert menu.
Ferrari has stepped out of the automotive business earlier than. Along with promoting a wide range of merchandise, it opened a theme park in Abu Dhabi known as Ferrari World in 2010. The positioning suitably options the world’s quickest curler coaster, the System Rossa, along with points of interest like go-kart races, a tour of a miniature Italy, and a flight simulator.