Luca di Montezemolo

If you're going to create a brand that the whole world lusts after, durably, you need to create a lot of infrastructure for fans to engage with.

to sort of hang their Ferrari fandom on.

And so you need to have ever more rare models so that every member of the Ferrari owners and future owners has a place to go.

In luxury, you never want a customer to feel like they've done it all.

You want a place for them to graduate to.

Maybe that second Ferrari or going from your first used Ferrari to your first new Ferrari or getting invited to buy an Icona or participate in a race or buy the car that just came out with that brand new name that honors the model from 30 years ago.

A lot of brands who want to be like Ferrari don't make the investments to have that amount of infrastructure and models and programs.

The illusion is...

Oh, well, we'll just ship very few units and we'll have simplicity.

But in fact, the opposite is true.

You need to have all this uniqueness and mobility for every client to build a brand like this.

Yes.

There always needs to be a place for you to sort of graduate up to in your Ferrari fandom.

And there's all this stuff around it, too.

There's like a whole forest around the pyramid of different events that you interact with and community elements.

And it is just very, very impressive and very high cost to just operate Ferrari day to day.

Whereas I think a lot of product companies, they make a product, they ship it, and then, yeah, there's some servicing, but then there's maybe a lightweight customer touchpoint.

But operating the forest and pyramid and ecosystem that is the Ferrari universe is like a high-cost, everyday thing.

That's right.

And adding layers beneath.