Ferrari To Build Its Fourth Theme Park In The US?

Apr 19, 2016 07:13 AM EDT | Vanessa Doctor


There are rumors that Ferrari will build its fourth theme park in the United States. The news was received with mixed reviews, considering that there are already so many theme parks in America.

Ferrari has been actively spreading its brand aside from the supercar market. Ferrari has allowed its brand to appear on clothes, travel items, computers, baby goods, perfumes, and more. Ferrari stores selling a variety of goods have also sprouted in various parts of the world.

Motor Authority says that it was only a few years ago when Ferrari licensed its brand to be used on theme parks. Its first theme park, Ferrari World, opened in Dubai. The second, Ferrari Land, is set to open in Spain in 2017. Earlier in April 2016, the company announced that it agreed with BAIC, a China-owned auto manufacturer, to build its third theme park in China.

At present, there are already plans to introduce the fourth Ferrari theme park in North America, according to Bloomberg. Not a lot of information about the planned Ferrari theme park in the United States has been revealed yet, although Chairman Sergio Marchionne, who is said to become the new CEO of Ferrari, is prepared to launch a new strategy for the business in 2017. If Ferrari pushes its plan to create an American theme park, it may be because of the predominance of the market in terms of size and importance to the brand.

Allegedly, the new strategy by Marchionne is set to further poise Ferrari as a luxury brand, instead of solely bring a luxury sports car brand, Carbuzz cites. Shareholders are currently meeting in Amsterdam to appoint a new board of directors, which will most likely comprise of several major names from the luxury goods market, namely Adam Keswick, a senior manager at the parent company of Mandarin Oriental Hotel Group, and Delphine Arnault, executive vice president at LVMH Moet Hennessy Louis Vuitton SE.

“Ferrari is a paradox,” said Giuliano Noci, professor of marketing at Milan Polytechnic. He continued that although the brand is iconic, its image has become so related to supercars that has become extremely difficult to expand it beyond the auto business. Its move to create a theme park in the United States would hopefully help transform it into a full-fledged luxury brand. Ferrari has also been struggling in terms of sponsorship, advertisements and other brand activities.

More updates and details on the fourth Ferrari theme park are expected soon.

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