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Ferrari one of the most famous names in the car industry. Its sports cars a symbol of luxury. It has a long history of success in motor sports, especially in Formula One. The Italian company has now the business of fashion. On Sunday, the 74-year-old carmaker its own line of clothing at its factory in Maranello, northern Italy. The company briefly production of its cars to models down a temporary catwalk on its factory floor. Ferrari hopes its new fashion line will the company to diversify. Chief Brand Diversification Officer Nicola Boari reporters that Ferrari's clothing collections could up 10 per cent of the company's profits within a decade.

Ferrari's new, ready-to-wear clothing was by 37-year-old fashion designer Rocco Iannone. He used to for the fashion house Armani. Mr Iannone's clothes all very bright colours. He made great use of "Ferrari red," the yellow used in the Ferrari logo, and a very vibrant blue. Iannone the clothes will popular with younger people. He said: "The young generations the power to express the energy and the power of Ferrari's brand." He : "If you enter a Ferrari store, it's not because you another raincoat. You are for something special." Ferrari's chairperson said the company "wants to Italian excellence and the best of our country's creativity".