[Ferrari News] From exclusive Lego sets, to high fashion and a theme park thrown in for good measure, Ferrari has become the world’s strongest brand, according to British firm, Brand Finance. Over 400 000 000 official Ferrari products have been sold in the past decade and, now, 95 items with the famous Prancing Horse are sold every minute of every day.
The brand is, however, acutely aware that the driver of this success remains the desirability of the product the company is most famous for, its cars. At a big media event in Maranello, Italy this week, Ferrari boss Luca di Montezemolo announced a strategy to safeguard the exclusivity and desirability of its cars.
“A Ferrari is like a beautiful woman,” Di Montezemolo said. “You must desire her, and you must wait for her…” Those of you saving up for one of Maranello’s finest may consequently face a bit of a wait. In 2012 Ferrari sold 7 318 cars, but it is planning to limit this number to below 7 000 in 2013. Oh, and if you haven’t got your order in for the marque’s new flagship, the LaFerrari, I’ve got some bad news. All 499 cars are already sold.
What it is not planning to do is to make less money. Already in the first four months of this year it sold 1 800 cars, four per cent more than last year and increased revenues by 8 per cent. The trading profit of Euro 80,5 million is up 42 per cent and the net profit of Euro 54,7 million, improved by 36,5 per cent.
Ferrari did not release figures for how much its licensed products, e-commerce and Ferrari World in Abu Dhabi contributed to its success, but it is certainly significant. To further boost non core-product related profits, Ferrari has just added its Pr1ma fashion line, plans to add more Ferrari stores (there are more than 50 worldwide) and there’s a strong possibility of another theme park, too.
Also significantly adding to the marque’s profitability is its personalisation programs, something the company aims to grow, too. Essentially, the aim is that no two Ferraris should be identical and customers are encouraged to personalise, with the guidance of designers. Interestingly, Ferrari will go very far to meet customers’ demands, but will not let a Ferrari out of the Maranello factory’s gates if they believe it will be bad for brand value. So… don’t ask for a pink Ferrari.
In fact, also don’t ask for an SUV or a four-door saloon. Di Montezemolo said: “We are not looking for other market niches. We are interested in making more special series cars.” In short, if you’re interested in such products, the answer is simple… buy a Maserati. “We will not deviate from our core products,” he continued.
And although work continues on hybrid systems linked to the company’s important F1 team, Di Montezemolo also ruled out an all-electric Ferrari. His wording was strong; “We will never produce an electric car while I’m chairman of this company.”