Ferrari is one of most famous names in car industry. Its sports cars are symbol of luxury. It has long history of success in motor sports, especially in Formula One. The Italian company has now entered business of fashion. On Sunday, the 74-year-old carmaker launched its own line of clothing at its factory in Maranello, northern Italy. company briefly halted production of its cars to let models walk down temporary catwalk on its factory floor. Ferrari hopes its new fashion line will allow company to diversify. Chief Brand Diversification Officer Nicola Boari told reporters that Ferrari's clothing collections could make up 10 per cent of company's profits within decade.
Ferrari's new, ready-to-wear clothing was created by 37-year-old fashion designer Rocco Iannone. He used to work for fashion house Armani. Mr Iannone's clothes all used very bright colours. He made great use of "Ferrari red," yellow used in Ferrari logo, and very vibrant blue. Iannone hopes clothes will be popular with younger people. He said: "The young generations have power to express the energy and power of Ferrari's brand." He added: "If you enter Ferrari store, it's not because you need another raincoat. You are looking for something special." Ferrari's chairperson said company "wants to champion Italian excellence and best of our country's creativity".