Ferrari NV?s ambition to compete with luxury-goods brands like Hermes or Prada has failed to make headway in the six months since its initial public offering, raising pressure on the new board to reset the sports-car maker?s strategy.
Skepticism over the company?s prospects has caused the stock to tumble about 20 percent since its October listing. The new board of directors, loaded with luxury experts, must address the challenge of pouring resources into its bread-and-butter cars, maintaining the pricey presence in Formula 1 racing and extending the brand into more high-end products, all without the financial muscle of a strong parent company.

?Ferrari has an identity crisis,? said Adam Wyden, founder of ADW Capital Partners in Washington. ?They told the world they are a luxury-good company so they should start behaving like Hermes or Loro Piana with their status-symbol supercars. It?s not about selling T-shirts or caps? to racing fans. Ferrari?s sluggish start as an independent company coincides with a rough time for the luxury-goods industry. The terrorist attacks in Paris and Brussels deterred hard-spending tourists from Asia and the Middle East from traveling to major European cities, compounding already sagging demand in China. That?s hurt the likes of LVMH, Burberry Group Plc and Prada SpA, one of the hardest hit stocks with a 42 percent drop in the past 12 months.
The car manufacturer is working to hone its non-automotive products after realizing some fashion item...