Expecting Ferrari (NYSE:RACE) To License A Theme Park In The US
What I learned from the results of Ferrari’s corporate meeting and the related press releases last week is that the iconic luxury Supercar manufacturer is seek new avenues of growth to satisfy investors, while maintaining the exclusivity of its Supercars.
The company and its brand continues to shoe up in areas not associated with Supercars or Motorsports.
In past years we have seen Ferrari license its brand for use on clothing, computers and travel goods. There is even a line of Ferrari stores that feature clothing for babies and toddlers, one just opened in Shanghai ahead of last week F1 Grand Prix race where Ferrari’s Sebastian Vettel finished 2nd.
Ferrari has also licensed its brand for use on theme parks.
The 1st is Ferrari World in Abu Dhabi open an operating, and the 2nd, 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.
And now I have learned there are plans for a 4th Ferrari theme park in the US. The US market is very important to the firm when it comes to size and history.
No further details on the potential North American Ferrari theme park were mentioned although it was reported that Chairman Sergio Marchionne, will unveil a his strategic plan for the company next year soon.
It is my belief that the new strategy will move further position Ferrari as luxury brand rather than strictly a luxury Superscar, and HyperSupercar brand.
The shareholders met last week in Amsterdam electing new new board members include a number of Key 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.
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