It is a comprehensive agreement covering all the activities of Ferrari and Hublot, both in terms of brand image and the commercial activities of both companies.
Since it is a genuine exchange between the two brands, a pooling of resources and information, a win-win agreement, which was just announced on 5 November 2011 jointly by Jean-Claude Biver, CEO of Hublot and Luca Cordero di Montezemolo, President of Ferrari SpA, at the Mugello international circuit near Florence, the theatre of the Ferrari World Finals, the traditional event rounding off the Prancing Stallion’s sports season.
So this will involve not just the creation of watch collections, operating a licence or sponsorship agreement. Hublot has become the exclusive watchmaking partner in the full range of Ferrari’s activities. And these are legion: “Official Watch” of Ferrari, “Official Timekeeper” of Ferrari, “Official Timekeeper” of Scuderia Ferrari, “Official Watch” of Scuderia Ferrari, “Official Timekeeper” of the Ferrari Challenge, and partners in Ferrari special events.
And it all kicks off today at Mugello with the world finals, soon to be followed by operations on the emerging markets such as China and the Middle East… with which Hublot will be closely associated. Indeed Ferrari is one of the leading luxury brands on the Chinese market, and Hublot is starting to establish itself in China, with 3 boutiques at present and 12 openings planned by the end of 2012. The benefits are obvious, as is the complementarity of resources.
Luca Cordero di Montezemolo, President de Ferrari S.p.A, commented: “Exclusivity, technology, passion, style: Hublot and Ferrari share many core values and this new partnership between two such highly prestigious brands is an important milestone for both. Being here at Mugello with so many of our clients, tifosi and hundreds of stunning Ferraris has provided us with the perfect opportunity to announce the start of an all-round collaboration that will see Hublot flanking us in our activities in the coming years”.
“This collaboration, rich in a host of synergies, gives Hublot a massive boost along the road,” added Jean-Claude Biver, CEO of Hublot.