Exor is continuing on its path to became one of the main players of the fashion segment. First of all, it closed the 541-million-euro deal that got it 24% of Christian Louboutin. Then it announced that Ferrari will make its debut in the apparel segment. The Prancing Horse is transforming into a luxury brand, and analysts aren’t standing idly by. Many believe that the Holding of the Agnelli family could make additional acquisitions in the luxury segment, to the point of driving the creation of an Italian cluster with a potential investment in Giorgio Armani.
Transforming into a luxury brand
John Elkann took the stand during the shareholders’ meeting that approved the 2020 financial results. The president and ad-interim CEO of Ferrari announced the launch of the first men and women luxury collection entirely designed by Ferrari. It will be distributed online and by a chain of new retail stored. “The collection – explained John Elkann – will tell the story of Ferrari’s distinctive values (craftsmanship, elegance and innovation) and will be dedicated to those that love the brand and fashion, all over the world”.
La Stampa explains how in November 2019, Ferrari had put stylist Rocco Iannone in charge of developing creativity, design and the image of all clothing and accessories’ collections branded Ferrari and manufactured by third parties. Under Iannone’s leadership was developed a team of young stylists working out of Milan. Their work will be out in June. The development of the apparel segment will be one of the responsibilities of the new CEO of Ferrari, which is still to be nominated. It’s not a surprise, then, that among the many names are also found some of managers from the fashion world.
Fashion’s interests
After having invested 80 million euro for Chinese brand Shang Xia (with Hermès), Exor spent another 541 million to buy 24% of footwear brand Christian Louboutin. Now another investment has been made to allow Ferrari, as a brand, to enter the fashion segment. The market awaits additional moves by the Agnelli family’s holding, starting with the possibility of Exor entering Armani’s capital, based also on the statements made by Giorgio Armani to Vogue.
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