Ferrari starts fashion collaboration with Armani

A group of Ferrari owners park their cars to show on display at the SVGT car enthusiast gathering in San Diego, California. The company announced on Monday a collaboration with Giorgio Armani. (Reuters/ File Photo)
Updated 04 November 2019

Ferrari starts fashion collaboration with Armani

  • The Italian company aims to both increase and retain a greater portion of the 800 million euros in products bearing the carmaker’s name, the CEO said
  • Italy, with driving simulation centers to leverage its Formula 1 racing heritage

MILAN: Sportscar maker Ferrari said Monday it was starting a fashion collaboration with Giorgio Armani as part of its long-awaited strategy to spread its brand to other sectors and squeeze more value out of it.
CEO Louis Camilleri told analysts that Ferrari aims to earn 10% of earnings before interest and taxes in seven to 10 years from three new areas: apparel, entertainment and luxury services.
The Italian company aims to both increase and retain a greater portion of the 800 million euros ($892 million) in products bearing the carmaker’s name, the CEO said.
“This is not just about profit, this is about enhancing our brand equity and the vitality and vibrancy of the brand,” Camilleri said.
He said Ferrari will focus the use of its brand, reducing licenses by half and eliminating a third of the product categories currently available.
Besides the apparel line to be produced in Italy through a long-term deal with Armani, Ferrari will expand its entertainment offerings, which currently comprise theme parks in Abu Dhabi and Barcelona and two museums in Italy, with driving simulation centers to leverage its Formula 1 racing heritage.
The third category, luxury services, will include a new restaurant with Michelin-star chef Massimo Bottura at the Maranello headquarters to open at the end of 2020.
Ferrari raised its earnings forecast, citing a robust third-quarter performance including a 9% increase in deliveries.
It raised its full-year forecast for net revenues to 3.7 billion euros, from 3.5 billion euros previously. It lifted its prediction for earnings before interest, taxes and amortization to 1.27 billion euros from 1.25 billion euros.
In the third quarter, earnings before interest, taxes and amortization rose 11% to 311 million euros. Revenues rose 9% to 915 million euros.
Deliveries hit 2,474 vehicles, lifted by the Ferrari Portofino and the 812 Superfast. They were up by double-digits in Europe, were flat in the Americas and dipped 2% in greater China. Full-year volumes will be in the 10,000-region.
Ferrari has unveiled four new models this year as it renews a product portfolio, and will preview a fifth next Wednesday at an event in Rome.


Celine Dion chooses Lebanese brand for album campaign

Celine Dion wears diamond earrings from Lebanese fine jewelry designer Ralph Masri. Supplied
Updated 17 November 2019

Celine Dion chooses Lebanese brand for album campaign

  • Celine Dion wore earrings from Lebanese fine jewelry designer Ralph Masri on the campaign shots for her newly-released album “Courage"
  • The Canadian crooner has sported looks from Middle Eastern talent on numerous occasions

DUBAI: It’s no secret that Celine Dion reveres designers from the region. The Canadian crooner has sported looks from Middle Eastern talent on numerous occasions — who can forget that canary-colored Maison Rabih Kayrouz power suit she wore last year? So it hardly comes as a surprise that Dion donned earrings from Lebanese fine jewelry designer Ralph Masri on the campaign shots for her newly-released album, “Courage".

The singer who gave us “My Heart Will Go On” rocked the Phoenician Script Bolt Earrings with Diamonds in the album artwork in addition to a fold-out poster that comes tucked inside the CD.

The Canadian crooner rocked Ralph Masri's Phoenician Script Bolt Earrings with Diamonds. Supplied

“This is so special to me on so many levels. First, for the obvious reason that Celine Dion is an icon I’ve always loved and this is an incredible honor,” the Beirut-based jeweler told Vogue Arabia.

The Central Saint Martins graduate, who launched his eponymous label in 2014, is known for his sophisticated, statement pieces. His geometric designs have been worn by the likes of Queen Rania Al-Abdullah, Gigi Hadid and Nicki Minaj.

Those who wish to take a style cue from the pop superstar will be pleased to know that the diamond earrings are available at his newly-opened Beirut flagship store.