Chris Bryant, Columnist

For Sale: A Two-Wheeled Ferrari

Ducati doesn't merit a prancing horse-style valuation.

June 23, 2017 at 6:00 AM UTC

Chris Bryant is a Bloomberg Opinion columnist covering industrial companies in Europe. Previously, he was a reporter for the Financial Times.

1498147753_ducati — Carlo Bressan/Anadolu Agency/Getty Images

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He might not have known it at the time but Sergio Marchionne did arch-rival Volkswagen AG a favor when he listed Ferrari in 2015.

In a pretty audacious move for a metal-basher, the boss of Fiat Chrysler Automobiles NV managed to convince investors that Ferrari deserved an earnings multiple more akin to a luxury goods company. The gambit has paid off so far, with the prancing horse rated not too far below high-class handbag-maker Hermes International.