Benedetto Vigna, Ferrari’s CEO, was thinking about the company’s February 2022 debut of its ready-to-wear collection at Milan Fashion Week. Since being named CEO for the iconic Italian automaker in 2021, he recognized that Ferrari’s long-term growth and relevance hinged on the company’s ability to evolve into a luxury lifestyle brand.
Steeped in auto racing heritage and renowned for its high-performance luxury cars, Ferrari first began experimenting with brand extensions into lifestyle realms like apparel, accessories, collectibles, and hospitality experiences in the late 1990s. However, these brand enhancements were limited in scope and often executed through licensing arrangements that provided little brand control. Now, with younger demographics prioritizing immersive experiences over outright product ownership, Vigna has made translating Ferrari’s brand essence into elevated lifestyle offerings a strategic priority. Core to this mission is bringing the design, production, and retailing of lifestyle products in-house to ensure tight quality control and brand coherence.
This case examines how Ferrari aims to drive business growth via reimagining and prioritizing its lifestyle segment. From the viewpoint of the company’s new CEO the case looks at an ambitious mission to extend the brand’s reach beyond iconic cars into experiential luxury, using (and going beyond) high-style apparel, fashion accessories, and collectibles.