Pursuits
Ferrari's Formula One Success Little Help in Fight With Fendi
- The automaker's push to get into luxury goods faces long odds
- Luxury `is a very different proposition' from racing cars
Marchionne: Ferrari a Luxury Brand, Not a Carmaker
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With more than 220 Grand Prix wins, Ferrari is the most successful Formula One team in history -- a record that goes a long way toward justifying the $200,000-plus sticker price of its street-legal sports cars. Yet as Chairman Sergio Marchionne seeks to expand the brand into luxury goods such as apparel and accessories, that racing pedigree may hurt Ferrari as much as it helps.
Marchionne has long maintained that as a seller of sleek and speedy toys to the megarich, Ferrari has more in common with Fendi and Chanel than Fiat or Chevrolet.