Instant Alert: How Ferrari went from a race-car company to a multi-billion-dollar luxury brand

MANAGE SUBSCRIPTIONS   |   UNSUBSCRIBE   |   VIEW ONLINE   How Ferrari went from a race-car company to a multi-billion-dollar luxury brand by Benjamin Zhang on Feb 28, 2016, 5:57 PM Advertisement After nearly 70 years in business, Ferrari completed an IPO on the New York Stock Exchange in 2015 that valued the company at nearly $10 billion. Today, the carmaker has 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. With the IPO, Ferrari is on its way to becoming an independent company again.  This is its story. SEE ALSO: RANKED: The 10 most important Ferraris of all time 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   Share the latest business news with your network: Email sent to:   |   Manage your email preferences   |   Unsubscribe Terms of Service   |   Privacy Policy Business Insider. 150 Fifth Avenue, New York, NY 10011