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Paragraph 1

Ferrari is one of the famous names in the car . Its sports cars are a of luxury. It has a long history of success in motor sports, in Formula One. The Italian company has now entered the business of fashion. On Sunday, the 74-year-old carmaker launched its line of clothing at its factory in Maranello, northern Italy. The company halted production of its cars to let models walk down a catwalk on its factory floor. Ferrari hopes its new fashion will allow the company to diversify. Chief Brand Diversification Officer Nicola Boari told that Ferrari's clothing collections could make up 10 per cent of the company's profits within a .

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