Ferrari is looking less like a carmaker and more like Hermès
T he workaday town of Maranello, near such architectural jewels as Bologna and Modena, shares little of their charm. Nevertheless, its main attraction is a centrepiece of Italian culture. A statue of a prancing horse on a roundabout reminds visitors that this is the home of Ferrari. Italian design, exclusivity and racing heritage have made the company both a champion of the car industry and something altogether different.
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Leader Live
28 minutes ago
- Leader Live
Ferrari team principal Fred Vasseur signs new multi-year contract
Vasseur's position has been under scrutiny this season with Ferrari yet to land a single win outside of Hamilton's sprint victory in China in March. Former Red Bull team principal Christian Horner has even been linked with the job since he was ousted earlier this month. FRED VASSEUR CONTINUES WITH SCUDERIA FERRARI HP — Scuderia Ferrari HP (@ScuderiaFerrari) July 31, 2025 However, in a statement released ahead of this weekend's Hungarian Grand Prix – the concluding round before the summer break – Ferrari said in a statement: 'Scuderia Ferrari HP is pleased to announce that it has extended, with a multiple-year contract, its agreement with Fred Vasseur, who will continue as team principal for the coming Formula One seasons. 'Fred joined the Scuderia at the beginning of 2023, bringing with him extensive motorsport experience and a proven ability to develop talent and build competitive teams across all levels of racing. Since then, he has laid a solid foundation with the ambition of returning Ferrari to the top of Formula One. 'Renewing Fred's contract reflects Ferrari's determination to build on the foundations laid so far. His ability to lead under pressure, embrace innovation, and pursue performance aligns fully with Ferrari's values and long-term ambitions. 'Under Fred's leadership, Scuderia Ferrari HP is united, focused, and committed to continuous improvement. The trust placed in him reflects the team's confidence in its strategic direction and reinforces a shared determination to deliver the results that Ferrari's fans, drivers, and team members expect and deserve.' Since his transfer from Mercedes, Hamilton has not landed a grand prix podium in Ferrari colours – a streak of 13 races – the deepest into the season he has ever gone without a top-three finish. He is sixth in the standings, 157 points off the championship pace and 30 points behind team-mate Charles Leclerc. Ferrari are second in the constructors' standings. Hamilton said at last week's round in Belgium that he had staged meetings with all of Ferrari's key figures – including chairman John Elkann, CEO Benedetto Vigna and Vasseur – and submitted two documents outlining his vision as to why the Italian giants are not up to speed. Ferrari's last world drivers' title came in 2007, with their most recent constructors' crown the following year. 'Today we want to recognise what has been built and commit to what still needs to be achieved,' said Vigna. 'It reflects our trust in Fred's leadership — a trust rooted in shared ambition, mutual expectations and clear responsibility. 'We move forward with determination and focus, united in our pursuit of the level of performance Ferrari has to aim for.' Frenchman Vassuer continued: 'I'm grateful for the trust Ferrari continues to place in me. This renewal is not just a confirmation — it's a challenge to keep progressing, to stay focused, and to deliver. 'Over the past 30 months, we've laid strong foundations, and now we must build on them with consistency and determination. We know what's expected, and we're all fully committed to meeting those expectations and taking the next step forward together.'
South Wales Argus
44 minutes ago
- South Wales Argus
Ferrari team principal Fred Vasseur signs new multi-year contract
Vasseur's position has been under scrutiny this season with Ferrari yet to land a single win outside of Hamilton's sprint victory in China in March. Former Red Bull team principal Christian Horner has even been linked with the job since he was ousted earlier this month. FRED VASSEUR CONTINUES WITH SCUDERIA FERRARI HP — Scuderia Ferrari HP (@ScuderiaFerrari) July 31, 2025 However, in a statement released ahead of this weekend's Hungarian Grand Prix – the concluding round before the summer break – Ferrari said in a statement: 'Scuderia Ferrari HP is pleased to announce that it has extended, with a multiple-year contract, its agreement with Fred Vasseur, who will continue as team principal for the coming Formula One seasons. 'Fred joined the Scuderia at the beginning of 2023, bringing with him extensive motorsport experience and a proven ability to develop talent and build competitive teams across all levels of racing. Since then, he has laid a solid foundation with the ambition of returning Ferrari to the top of Formula One. 'Renewing Fred's contract reflects Ferrari's determination to build on the foundations laid so far. His ability to lead under pressure, embrace innovation, and pursue performance aligns fully with Ferrari's values and long-term ambitions. 'Under Fred's leadership, Scuderia Ferrari HP is united, focused, and committed to continuous improvement. The trust placed in him reflects the team's confidence in its strategic direction and reinforces a shared determination to deliver the results that Ferrari's fans, drivers, and team members expect and deserve.' Since his transfer from Mercedes, Hamilton has not landed a grand prix podium in Ferrari colours – a streak of 13 races – the deepest into the season he has ever gone without a top-three finish. He is sixth in the standings, 157 points off the championship pace and 30 points behind team-mate Charles Leclerc. Ferrari are second in the constructors' standings. Hamilton said at last week's round in Belgium that he had staged meetings with all of Ferrari's key figures – including chairman John Elkann, CEO Benedetto Vigna and Vasseur – and submitted two documents outlining his vision as to why the Italian giants are not up to speed. Ferrari's last world drivers' title came in 2007, with their most recent constructors' crown the following year. Lewis Hamilton is sixth in the world championship ahead of the Hungarian Grand Prix (Bradley Collyer/PA) 'Today we want to recognise what has been built and commit to what still needs to be achieved,' said Vigna. 'It reflects our trust in Fred's leadership — a trust rooted in shared ambition, mutual expectations and clear responsibility. 'We move forward with determination and focus, united in our pursuit of the level of performance Ferrari has to aim for.' Frenchman Vassuer continued: 'I'm grateful for the trust Ferrari continues to place in me. This renewal is not just a confirmation — it's a challenge to keep progressing, to stay focused, and to deliver. 'Over the past 30 months, we've laid strong foundations, and now we must build on them with consistency and determination. We know what's expected, and we're all fully committed to meeting those expectations and taking the next step forward together.'
Fashion United
17 hours ago
- Fashion United
Paola Falchi takes the reins at Lancel
French brand Lancel has appointed Paola Falchi as its new general manager. Falchi was previously Finance, Operations & Strategy Director - Europe at Japanese brand Issey Miyake. Falchi holds an Executive MBA from HEC. She has worked at Estée Lauder, Issey Miyake and in the pharmaceutical sector. Lancel views Falchi's appointment as an opportunity to reinforce its growth dynamic and optimise its organisation. Falchi's arrival at the leather goods house comes a few months after Lancel announced strong performances for the 2024-2025 financial year. Sales increased by 6.5 percent year-over-year. Owned by the Italian group Piquadro since 2018, Lancel recorded a turnover of 68.8 million euros. Wholesale sales rose by 2.8 percent, and retail sales in its own stores increased by 8.7 percent (12.8 percent LFL growth). "Lancel is a house with a unique heritage, driven by strong development potential," said Falchi in a statement. "The challenge is to extend this history by building sustainable growth based on agility, innovation and demanding customer service. I am pleased to contribute, alongside Piquadro, to the achievement of this ambition." This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
