Lamborghini CMO: "Women Account for 20% of Korean Customers, 35% Are Under 40... Growth to Continue This Year"

Interview with CMO Federico Foschini
Targeting the market with exclusivity and resilience
Tailored marketing for different genders and age groups
New showroom and service hub planned for 2027-28
"We haven't abandoned fully electric vehicles; we've postponed them"

"Luxury spending, which surged in the 'YOLO' trend immediately after the COVID-19 pandemic, has cooled, while the broader market is under pressure from a combination of macroeconomic slowdown and geopolitical uncertainty. Rather than ramping up production excessively, Lamborghini will continue to pursue stable growth based on 'exclusivity' and 'resilience.'"

Federico Foschini, Chief Marketing and Sales Officer (CMO) of Automobili Lamborghini. Automobili Lamborghini

Federico Foschini, Chief Marketing and Sales Officer (CMO) at Automobili Lamborghini, gave this response when asked about the company's strategy for addressing slower growth in the global luxury car market during an interview with The Asia Business Daily at Lamborghini Day Korea on October 8. With external volatility intensifying amid weakness in the U.S., European and Middle Eastern markets and the Russia-Ukraine war, he explained that managing brand value takes priority over aggressive volume expansion.

Foschini identified three pillars of the company's response to the crisis: ▲building a healthy brand by strengthening customer engagement; ▲product innovation in design, emotion and performance; and ▲customer management by expanding offline and digital touchpoints. "Every time we introduce a new model, we have to break away from the conventional and surprise customers," he said. "Managing the exclusivity and resilience we have upheld since the company's founding is what gives us the strength to overcome market conditions."

He described South Korea as a key hub, ranking sixth globally and second in Asia-Pacific, and highlighted its distinctive customer demographics, which exceed the global average.

"At least 35% of our customers in South Korea are under 40, making them much younger than those in other markets, where the figure is 25-30%. Women account for 20% of our customers, twice the global average of 10%," Foschini said. "Lamborghinis are not just for men; anyone can drive one. South Korea is proving that, and we are extremely pleased and encouraged."

The company is also expanding its tailored marketing to meet these needs. "For female customers, we hold She Drives Lambo events and small-scale dinner programs. To reach younger customers who value track experiences, we offer Super Trofeo track driving and simulator experiences, alongside engagement on social media," he said.

Federico Foschini, Chief Marketing and Sales Officer of Automobili Lamborghini (second from right). Automobili Lamborghini

He also expects the sales mix, currently dominated by the Urus sport utility vehicle (SUV), which accounts for 75% of sales, to gradually diversify.

"In South Korea, SUVs account for 75% of sales and sports cars for 25%, but that ratio will change with the recently launched V8 Temerario and V12 Revuelto," Foschini said. "We limit annual production of the iconic flagship Revuelto to fewer than 2,000 units to preserve its exclusivity, and orders are already backed up for several years." He added, "The Temerario will be an attractive option for Korean customers, not only for its tremendous horsepower and responsiveness but also for its spacious interior, which can accommodate suitcases."

On the showroom relocation and investment plans for its Korean operations, he said, "We moved our showroom and service workshop from Dongdaemun to Seocho to improve customer access and service convenience." He explained that it was "a strategic decision to let customers configure personalized vehicles and receive service conveniently in a lounge equipped with a configurator." He added, "We are reviewing promising, iconic locations in central and outlying areas after studying our customers' travel patterns, and we expect to see the first results around late 2027 or the first quarter of 2028."

He also explained in detail the reasons for adjusting the pace of the launch of fully electric vehicles. Foschini stressed that Lamborghini had "not abandoned the launch of fully electric vehicles, but postponed it to reflect market conditions."

"Emotion that stimulates the senses, including sound and driving response, is important to Lamborghini, and that emotion needs to evolve naturally in electric vehicles as well," he said. He also noted, "Luxury fully electric vehicles face the problem of steep depreciation in the used-car market just one to two years after purchase, so an immediate launch would be difficult from the standpoint of protecting customers. In the global market, electric vehicle market share is declining everywhere except for Tesla and BYD, and growth in the U.S. market has also slowed since Trump took office."

Finally, Foschini said, "South Korea is a sensitive market where luxury consumer sentiment can cool quickly in response to the real estate downturn, the stock market and interest rate fluctuations." He nevertheless expressed confidence that sales would grow this year compared with the previous year, saying, "Rather than expanding aggressively, we will deliver consistent and stable growth based on strong resilience."

This content was produced with the assistance of AI translation services.