The Armani group will produce Ferrari branded garments and accessories. A long-term agreement that is, first and foremost, a way to celebrate the "made in Italy" aiming to raise the standards of excellence.
of Marta Casadei
2 'of reading
The Armani group will produce a selection of Ferrari branded clothes and accessories. In a synergy between icons of Made in Italy that focuses on excellence.
The unprecedented partnership that unites two of the most famous Made in Italy brands in the world has been announced by the CEO of the prancing horse, Luis Camilleri: «The one with Armani is a long-term agreement with whom we want raise the standards of all our products and focus on Made in Italy ", explained the CEO.
The agreement between the company and Armani is part of one of the three pillars on which the Ferrari brand is based and, specifically, that of the products of clothing and accessories with the Ferrari DNA. Which, together with entertainment (and therefore, for example, theme parks), represents the "world" of the prancing horse all over the world.
"Today the market value of Ferrari brand products is estimated at around 800 million euros," said Camilleri, who announced a halving of the current licensing agreements and a 30% cut in product categories. From diversification which includes the brand extension developed with Armani, the company's CEO estimates «10% of total profitability in 7-10 years ".
There is talk not of a co-branding, but of an agreement for production: the collection will be designed by a team within Ferrari that, as stated by Camilleri, will open an office in Milan to follow the project closely and all brand activities of Ferrari. And that includes new hires.
Even the distribution (the Ferrari stores and the e-commerce platform) will be subject to an evolution, in line with the goal of raising the standards.
Source link
https://www.ilsole24ore.com/art/armani-e-ferrari-via-partnership-le-icone-made-italy-ACsPucw
Dmca
