Ferrari Picks Movado as Next Watch Collection Partner
Even though it’s not exactly an integral part of its product portfolio, Ferrari has taken pride in its timepieces over the years. Which is maybe why the Italian automaker has had such shaky relationships with watch manufacturers.
Ferrari recently ended its relationship with timepiece manufacturer Panerai (pictured above) and began seeking out a new partner for its licensing agreement. Interestingly enough, Ferrari chose the Movado Group, a manufacturer that is known to make more affordable luxury watches. In other words, Panerai is several leagues away from Movado in the timepiece market.
Maybe this is exactly what Ferrari needs to become successful with its licensed products. Unlike the vehicles the Italian automaker produces, its accessories should be more obtainable by the general public, which is why its new collection of watches will be priced up to around $2,000 (€1,500). The deal signed with the Movado Group was a multi-year deal and the watches will be available through select wholesale distribution outlets in addition to Ferrari’s stores and online shop.
“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,” said Luca di Montezemolo, Chairman of Ferrari.
The new Ferrari watch collection by Movado will debut at the Annual Watch & Jewelry Fair in Basel, Switzerland in 2013.
Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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I like the agressiveness of both companies to formulate new relationships, but i feel like car companys and logos on watches kinda kill the deal. I found a really rad picture of the new time piece movado watch equipped with the pony insignia here http://swagsection.com/movadoferrariwatches/
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