The Ferrari range is initially being launched across 15-20 dealerships in Mumbai, Chennai, Bangalore, Calcutta and Delhi. Gradually, Fiat India has plans to extend it to all 66 dealerships across the country.
Company sources said the first consignment of Ferrari merchandise will include 25 different lifestyle products like ties, umbrellas, leather belts, coat lapel pins, rucksacks, mugs, ash trays and wallets from its global portfolio of 100 products. The merchandise will be imported from Ferrari SpA, Maranello, Italy and the UK.
Targeted at upscale import buyers, the Ferrari merchandise would sport premium pricing: polo t-shirt for Rs 2,000, round neck Polo t-shirt for Rs 1,400, cap for Rs 1,000, pen-holder (sculpted out of genuine Ferrari engine-cylinder for Rs 12,000, Ferrari mug for Rs 600, and miniature Ferrari car for Rs 2,300.
The fashion accessories business is seen as a powerful vehicle for promotion besides providing an additional source of revenue. The merchandise launch is in line with Fiat’s strategy to reinforce its association with the Ferrari brand, which enjoys enormous recall and a cult following among motoring connoisseurs.
Fiat India started building this linkage between Fiat and the gleaming red Ferrari since Auto Expo in New Delhi early this year. This was complemented by a subsequent television commercial featuring Mr Michael Schumacher.
Fiat India, however, maintains that it has no immediate plans to bring Ferrari to India.
The launch comes close on the heels of the high-profile photo-meet of Mr Michael Schumacher, Ferarri’s global brand ambassador, and Mr Sachin Tendulkar, Fiat India’s brand ambassador early July 2002 at Silverstone circuit in the UK.
Fiat India says that it’s still early to determine Ferrari’s contribution to overall revenues. But the new merchandise is expected to draw a good number of customers to Fiat dealerships.
The company is still in the process of working out a fresh campaign to boost the new launch.