How Ferrari went from a race-car company to a multi-billion-dollar luxury brand (RACE)
AP
Over the past 70 years, Ferrari has come a long way since its start as a fledgling racecar builder.
In 2015, Ferrari's IPO on the New York Stock Exchange valued the company at nearly $10 billion. Two years later, the company's market cap has more than doubled to $21 billion. This makes the carmaker one of the most valuable and recognizable brands in the world; its "prancing horse" logo is synonymous with sex, money and the high life.
Ferrari wasn't always the global luxury brand that's now being traded in New York. The company's early days as a maker of racing cars were rather humble, and it took an Italian-American racing star named Chinetti to begin the transformation into a purveyor of glamorous supercars for the world's well-heeled.
The company's success drew takeover interest, and later rivalry, from Ford – before Ferrari eventually became part of FIAT. Here is the story of Ferrari's incredible 70-year journey:
In 1908, A ten-year-old Enzo Ferrari saw his first car race and immediately became hooked. As a young adult, Enzo was drafted by the Italian army to fight in World War I.
After the war, Enzo had a hard time finding work in the auto business. He applied to work at Fiat, but was rejected to due an excess of unemployed war veterans. Eventually, he found work at smaller automakers.
By the early 1920s, Enzo landed a job at Alfa Romeo as a race car driver. Fellow drivers at the company included legendary aces like Tazio Nuvolari, seen here in an Alfa.
See the rest of the story at Business Insider
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