Ferrari extends partnership with Ray-Ban through licensing deal

Ferrari California T

Eyewear group Luxottica is ramping up its collaboration with Italian automaker Ferrari.

Ferrari has inked a multi-year licensing agreement for a co-branded collection of eyewear featuring its marque alongside Luxottica label Ray-Ban. Eyewear is a growing category, thanks to its entry-level luxury price points that enable consumers to buy into a brand and make a statement in a more affordable way (see story).

Eyes on Ferrari
Taking the Ferrari and Ray-Ban affiliation to the track, the single-seat Formula One cars driven by racers Sebastian Vettel and Kimi Raikkonen will feature the Ray-Ban logo. This is part of a multi-year sponsorship deal between Scunderia Ferrari and Luxottica.

When Ray-Ban and Ferrari entered a sponsorship partnership in 2016, Sergio Marchionne, chairman and CEO of Ferrari, said, “Adding another prestigious brand like Ray-Ban to our  livery is very gratifying for Scuderia Ferrari.

“This new agreement strengthens the ties between Ferrari and Luxottica, two major Italian companies with shared principles and values that are both continuously striving for excellence,” he said. “I am sure that this new partnership will be satisfactory for both companies and give the team an extra boost to strive for more.”

Luxottica, which makes eyewear for brands such as Chanel, Burberry and Tiffany & Co., will also design, produce and distribute a Ferrari and Ray-Ban eyewear line.

In addition to its affiliation with Luxottica, Ferrari has branched into other lifestyle categories as it aims to extend its brand beyond cars.

Italian apparel and accessories label Tod’s translated the aesthetics of Ferrari’s vehicles into a collection of footwear.

For fall/winter 2016-17, the brands teamed up on a collection of driving shoes and sneakers for men that feature elements such as the prancing horse and Ferrari’s iconic shade of red. For Ferrari, this affiliation enables it to communicate its care and attention to detail during production through another category of merchandise (see story).

Tod’s x Ferrari

The automaker also has a branded theme park and hotel (see story).

Italian automaker Ferrari is one of the few luxury auto brands to have increased production, and therefore revenue, without sacrificing its exclusivity, according to Brand Finance.

Ferrari improved by three points this year brand strength as referenced by Brand Finance’s rankings. The valuation and strategy consultancy has released its list of most valuable auto brands of 2017 of which BMW, Mercedes-Benz and Audi covet some of the top 10 spots (see story).

from Apparel and accessories – Luxury Daily https://www.luxurydaily.com/ferrari-extends-partnership-with-ray-ban-through-licensing-deal/
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