MILAN -- Ferrari and its parent company Exor, the holding vehicle of the Agnelli family, have entered a partnership with Jony Ive, the creative mind behind many of Apple's iconic products, and fellow designer Marc Newson.
The duo belong to the LoveFrom creative collective of designers, architects writers, engineers and artists based in London and California.
The partnership will explore projects in the luxury business, the companies said in a joint statement on Monday.
Ive had been mentioned in the Italian press among possible candidates to replace Louis Camilleri when he suddenly stepped down as Ferrari CEO last year. In the end Ferrari turned to technology industry veteran Benedetto Vigna to drive the luxury sports car maker known for its roaring, high-octane engines into a new era of silent, electric powertrains.
In a sign of its ambition to widen the appeal of its brand, Ferrari in June unveiled its first in-house fashion collection and inaugurated a new restaurant in its hometown of Maranello.
Under the leadership of Exor’s John Elkann, Italy’s billionaire Agnelli family investment firm has been diversifying its investments in recent years beyond the car industry.
Exor also controls Juventus Football Club and reinsurance business PartnerRe, as well as a stake in Stellantis, formed by the merger of Fiat Chrysler with PSA Group.
Earlier this year Exor agreed to buy a stake in French shoe and bag maker Christian Louboutin for 541 million euros ($633 million).
Bloomberg contributed to this report