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.


Brazilian-Lebanese designer Nadine Ghosn’s award-winning accessories 

Nadine Ghosn is the daughter of the former Nissan CEO Carlos Ghosn. (Supplied)
Updated 20 February 2020

Brazilian-Lebanese designer Nadine Ghosn’s award-winning accessories 

  • The Brazilian-Lebanese designer on her love of jewelry, taking risks, and advice from her father, Carlos

LONDON: Born in America and based in London, the award-winning Brazilian-Lebanese designer Nadine Ghosn is as quirky and jubilant as her namesake fine jewelry line that she launched in 2016. 

Elements of contemporary culture as well as her personal experiences — from her early days in Japan to a love of old-school stationery and popular food classics — inspire her bold creations. And beneath all of that pop and color, jewelry holds a sentimental value for the Stanford-educated entrepreneur. 

“I’m an extremely sensitive person and jewelry is kind of like my token of moments, memories, and people,” Ghosn tells Arab News. “When I started creating jewelry, my goal was to create something that really means something to the (buyer), but also says something about the time we’re in. Going back through time, you (can learn) a lot about civilizations’ cultures through their jewelry, transitioning from one generation to the next.” 

The ‘Hamburger Ring’ was designed around the theme of food uniting people. (Supplied)

Ghosn’s love of accessories stems from her childhood, particularly when her father — the former Nissan CEO Carlos Ghosn — would return with gifts from his travels. In her teens, she recalls, “I always spent my money on jewelry. I couldn’t care less about what I was wearing but I would always accessorize it in a specific way.” 

Having majored in art and economics, Ghosn began her career in a New York consulting firm, followed by a rotational program at Hermès. Once she had gained a deeper understanding of craftsmanship, Ghosn turned down a major job offer to begin her own independent career path. “At that point, I was 24 going on 25 and I was just thinking about what my job meant to me and what I was trying to achieve. ‘Am I going to take a risk?’ Those big questions were kind of on my mind,” she says. 

A chance encounter during a timely visit to Lebanon turned into a ‘light-bulb moment’ for Ghosn; she encountered a Beirut jewelry manufacturer, who explained that his studio was struggling as demand for such spaces — and craftsmanship — had declined significantly. Ghosn struck a deal with him: he would teach her to work with gold and she, in return, would design her debut collection in his space.

An 18-karat gold design of seven stackable rings representing different layers of a burger, it was a design that she says raised the eyebrows of those closest to her. (Supplied)

One of Ghosn’s earliest pieces remains the most special to her: The ‘Hamburger Ring’ — which was designed around the theme of food uniting people. An 18-karat gold design of seven stackable rings representing different layers of a burger, it was a design that she says raised the eyebrows of those closest to her. 

“When I first showed it to my family, I remember them saying that no one was going to buy it,” she says. “I had faith in it and when it got momentum it was (proof that) when you believe in something, you should go for it.” The piece has ended up selling to a wide range of clients, from teenagers to 65-year-olds — and including the founder of Wendy’s burger chain. 

Over the years, a number of celebrities have been spotted wearing Ghosn’s pieces. Beyoncé wore the tongue-in-cheek ‘Shut Up’ earring cuff for her 35th birthday celebrations, and Karl Lagerfeld has sported the ‘Can You Hear Me?’ headphones necklace. 

“Too Cool For School” is Ghosn’s latest geek-chic collection. (Supplied)

Ghosn’s latest geek-chic collection is “Too Cool For School,” which ranges from a pencil ring to a paperclip bracelet and protractor earrings. It is, she says, somewhat inspired by her time in Japan — a place where stationery is something of an obsession for many. “The pencil is a simple but empowering tool, and everyone writes their own story,” she says.  

While we often hear the popular idiom “Like father, like son,” in Ghosn’s case, it’s more “Like father, like daughter,” for she shares her father’s entrepreneurial spirit and openness to new ideas. 

“Too Cool For School” ranges from a pencil ring to a paperclip bracelet and protractor earrings. (Supplied)

“My dad always challenged us to be extremely independent,” she says. “He was always very bold and that’s obviously within my DNA as well. Today, we’ve learned much more about each other — he finally says that I’m a jewelry designer because, for the first year or two, he had reservations. But thankfully, because people are purchasing and the fact that the business is profitable, I finally get the ‘designer’ label in my family.” 

As for the best advice she received from her father before starting her own business, she recalls him telling her: “Whatever you do, be the best at it. Make yourself indispensable.”