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Ferrari diversifies based on fashion and gourmet food
Ferrari's main lines of business are based on four pillars: Formula 1 and other competitions, the sale of sports cars (and, increasingly, luxury models beyond two-seaters), the most famous amusement park in the brand in Abu Dhabi (United Arab Emirates) and merchandising. Because, although Ferrari belongs to the luxury sector, which should be limited by definition, it also wants to grow.
The Italians are ace for this of the diversification. And Giorgio Armani is their king. Every time the designer has made landings in areas other than his own (fashion), he has created new brands so that they do not affect the main one, which is Giorgio Armani. He did it with Armani / Casa, Armani Beauty, Armani / Hotels, Armani / Dolci… He even sells flowers without losing his halo of exclusivity. And doesn't Gucci run three restaurants in Florence, Beverly Hills and Tokyo with the advice (like Ferrari) of Massimo Bottura?
In the case of the car company, brand stretching (that is, a company's strategy of selling new products in unrelated markets) does not seem to scare its top managers. Their brand capital is so large that they can afford to open their business to other territories until they present themselves as a lifestyle brand. Yes, they risk diluting an image that wears a halo, but the temptation to make more profit is tempting.
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