Like most carmakers, Ferrari doesn’t produce the merchandise it offers through its official stores. Instead, it cooperates with numerous manufactures that specialize on designing and manufacturing these products.
Today, the Italian sports car maker announced that it has signed a multi-year, worldwide license agreement with the Movado Group for the design, production and marketing of a new collection of watches under the Ferrari and Scuderia Ferrari brand names.
The Italian company said that the collection of Ferrari fan watches will be priced up to €1,500 euros (close to US$2,000 or about GBP 1,250) and will be sold worldwide through select wholesale distribution outlets as well as Ferrari’s stores and the Ferrari online shop.
Luca di Montezemolo, Chairman of Ferrari, commented: “This agreement is the perfect complement to our branded watch business in an innovative and highly competitive segment. We look forward to benefitting from Movado’s expertise in design, development and distribution in order to reach our fans around the world.”
The Movado Group said that it will debut the new Ferrari collection at the Annual Watch & Jewelry Fair held in Basel, Switzerland in 2013.
Movado has not published any pictures of the new watches, but the company CEO, Efraim Grinberg, said that they will be inspired by Ferrari’s GT and F1 cars.
“The Scuderia Ferrari watch collection will feature compelling, identifiable designs combined with the high quality craftsmanship that Movado Group is known for,” said Grinberg. “The Ferrari Formula 1 cars and Ferrari Road cars will provide great inspiration to our design group.”
