Luxury Swiss watch brand, Hublot, and Italian sports car manufacturer, Ferrari, have entered into a “comprehensive agreement,” merging the brand images and the commercial activities of both companies.
The two companies say this collaboration will be more that the creation of watch collections, operating a license, or a sponsorship agreement. It’s described in a joint statement as a “genuine exchange between the two brands, a pooling of resources and information.”
Under the arrangement, Hublot becomes the exclusive watchmaking partner in the full range of Ferrari’s activities. This includes the “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.
The partnership was announced November 5 during the Finali Mondiali Ferrari race at the Mugello International Circuit—the world finals event that traditionally marks the end of the Prancing Stallion's sports season. The new partnership will then head to the emerging markets of China and the Middle East. Ferrari is a leading luxury brands in China and Hublot is establishing itself in the country with 3 boutiques currently and 12 openings planned by the end of 2012.
“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,” said Luca Cordero di Montezemolo, president of Ferrari S.p.A.
“This collaboration, rich in a host of synergies, gives Hublot a massive boost along the road,” added Jean-Claude Biver, CEO of Hublot.