|Versus Hires Jonathan Anderson
November 29th, 2012 @ 11:04 AM
Cacharel Unveils New CEO, in Major Corporate Revamp
November 21st, 2012 @ 00:56 AM
Kane Drops Out of Versus in Major Shake-up
November 20th, 2012 @ 10:14 AM
Pucci’s Madison Avenue Store Debuts Massive Expansion
November 16th, 2012 @ 00:35 AM
Ghesquière Departs Balenciaga in Major Surprise
November 05th, 2012 @ 00:43 AM
Sao Paulo Fashion Week: Between Optimism and Fear
November 02nd, 2012 @ 00:28 AM
London Unveils Men’s Season Schedule
November 01st, 2012 @ 00:36 AM
Azzaro Releases Castello Branco
October 25th, 2012 @ 00:18 AM
Revenue Soars 22 Percent at LVMH in First Three Quarters
October 16th, 2012 @ 00:18 AM
Rykiel Names Geraldo da Conceicao Artistic Director
September 21st, 2012 @ 8:12 PM
Brazil’s New London Pop-Up
September 21st, 2012 @ 7:20 PM
McQueen Men Returning Home to London
September 12th, 2012 @ 7:19 PM
Roitfeld, Mum and Son, Open in Brazil
September 07th, 2012 @ 00:54 AM
Berluti Opens to Big-Time Business in London
September 06th, 2012 @ 3:27 PM
Stefano Pilati Back with a Bang at Zegna
September 05th, 2012 @ 7:10 PM
Hugo Boss Wows in Berlin, Plans for New York
July 06th, 2012 @ 00:17 AM
Salvatore Ferragamo: Crusin’ the Louvre
June 13th, 2012 @ 11:04 AM
Michel Klein Gains New Backer; Launches Sunglass Collection
June 13th, 2012 @ 00:48 AM
Sykes Jettisoned by Aquascutum; Maurer In at Rabanne
June 06th, 2012 @ 00:18 AM
Armani Conquers China, Chastises the Pope
June 01st, 2012 @ 11:53 AM
Ferrari's Tailor Made Future
December 05th, 2011 @ 00:37 AM - Maranello, Italy
Is the future of the automobile – at least at the high-end – a bespoke business where deep-pocketed clients actually design the look of their own personal automobile, paying huge extra sums to re-make highly expensive cars in their own image? It is if Ferrari's new hyper-customized project unveiled in the brand's hometown of Maranello on Friday, Dec. 2 turns out to have predicted the future with prescience.
Entitled Tailor Made Ferrari, its goal is to allow well-heeled Ferrari buyers to radically revamp the whole look of the entire interior of their individual high-performance car.
“We don't sell a car, we sell a dream - 7,000 cars last year in 58 different markets. Tailor Made will be like going to your own personal tailor, where you control the details – the cut, fabric, buttons and stitching,” explained Ferrari Chairman Luca di Montezemolo at a press presentation in the company's Maranello headquarters in central Italy.
And Ferrari intends to use the best brands in Italy to customize its look; like gentleman's tailor Brioni, cashmere specialist Ballantyne or famed furniture maker Poltrona Frau. Ferrari licensed products, which account for some 15 percent of its annual sales of 2 billion euros, or $2.6 billion, include Hublot for watches, Sony for video games, Mattel for toys.
“We make different Ferraris for different Ferraristi,” explained di Montezemolo, before proudly showing off a trio of Ferraris displaying radical makeovers to the assembled 50 editors, about a dozen of whom later test drove the high-performance super cars around the brand's own nearby test track.
Ferrari already has a program called One Off, designed to let buyers use the latest high-technology to actually design their autos' aerodynamic form. Though this is an entirely different cost level to Tailor Made, since developing a unique auto shape, testing it in Ferrari's high secret wind tunnel and gaining road worthy certificates, added together mean that clients can eventually pay millions of dollars for their personal thoroughbred roadsters.
Like any Ferrari, the Tailor Made program does not come cheap – with a starting price of 50,000 euros, or $65,000 at current exchange rates. A brand new Ferrari ranges in price from 220,000 euros to 300,000 euros, or $285,000 to $390,000. So the attraction to Ferrari – a brand so determined to maintain its exclusive image that it has little intention of increasing annual car output – is clear. Tailor Made can significantly boost its margins and bottom line, heighten exclusivity and not necessitate increased production. Moreover, despite the recession, Ferraris remain in heavy demand, with waiting lists of 15 to 18 months. But by taking the Tailor Made program, one leaps to the top of that elite queue.
Tailor Made is divided into three categories, explained Lapo Elkann, Ferrari's creative collaborator, referencing three elements in the brand's history - scuderia, classica and inedita – which translate as racing, classic and unexpected.
“We will have to guide the customer, but there is no real limit; except for safety and the coherence with our brand identity. That we won't break. We want to offer the best possible finishing,” Elkann told FWD, enthusiastically pointing out 30 possible types of stitching, potential crocodile skin seats, a finished classica Ferrari FF four-seater with chalk stripe cashmere interiors or an inedita Ferrari California with denim finish and matte blue exterior.
Elkann, a scion of the Agnelli family, Italy's wealthiest clan and the owners of Fiat, which controls Ferrari, is at the forefront of partnering Italian fashion and technology, like his famous carbon sun glasses costing $1,000 that he developed for his pet project – Italia Independent.
However, he was very keen to down play the fashion element in Tailor Made.
“This isn't about bringing fashion to Ferrari. We are working with style, which is something that lasts. Fashion comes and goes, style stays in history,” insisted Elkann, ironically paraphrasing a famous aphorism of Coco Chanel – fashion's single most famous designer.