Two iconic Italian brands are teaming up for the sake of fashion: Ferrari and Giorgio Armani. This news comes to us today from Ferrari NV as they report their quarterly earnings. It was Sergio Marchionne's goal to transform Ferrari into a luxury brand. Unfortunately, Marchionne passed away in 2018 and could not see the transformation happen.

Chief Executive Louis Camilleri has picked up where Marchionne left off and is making sure that it does happen and this collaboration with Armani proves it. In fact, Ferrari is aiming for luxury goods to make up around 10 percent of their profit within the next seven to ten years.