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