As Ferrari [NYSE:RACE] seeks new avenues of growth to satisfy investors and at the same time maintain the exclusivity of its sports cars, the company—or at least the brand name—continues to crop up in areas not usually associated with cars or motorsports.
In past years we’ve seen Ferrari license its brand for use on clothing, computers and travel goods. There’s even a line of Ferrari clothing stores for babies and toddlers, the latest of which just opened in Shanghai, China.
More recently, Ferrari has licensed its brand for use on theme parks. The first was Ferrari World in Abu Dhabi and the second, Ferrari Land, is scheduled to open in Spain next year. This month, Ferrari announced it reached a deal with Chinese state-owned automaker BAIC for a new theme park in China.
Ferrari Store Junior in Shanghai, ChinaEnlarge Photo
And now, according to Bloomberg, there are plans for a fourth Ferrari theme park in North America. Should those plans go ahead, it’s likely the theme park will open in the United States due to the predominance of the market when it comes to size and importance to Ferrari.
No further details on the potential North American Ferrari theme park were mentioned although it was reported that Chairman Sergio Marchionne, who is tipped to also become CEO of Ferrari, will unveil a new strategy for the company next year.
It’s thought the new strategy will seek to further position Ferrari as luxury brand rather than strictly a luxury sports car brand. Shareholders are meeting in Amsterdam today to determine a new board of directors. The new board is expected to include a number of major players from the luxury goods industry such as Delphine Arnault, executive vice president at LVMH Moet Hennessy Louis Vuitton SE, and Adam Keswick, a senior manager at the parent company of Mandarin Oriental Hotel Group.