Hublot announced today that they have partnered with Ferrari to become (among other things) their official watch maker and official time keeper. This means that during their agreement only Hublot can produce Ferrari branded timepieces. Hublot will also be a branded partner during Ferrari events (and likely the Ferrari name will be displayed at many Hublot events). They refer to this as a "comprehensive agreement covering all the activities of Ferrari and Hublot..." I know, a bit vague, but I think we get the idea.
Ferrari has had an interesting history with watches. For a long time there were a range of lower-priced quartz watches. Then they worked with high-end brand Girard-Perregaux for some nice watches. After that they entered into what most people generally agree was a failed relationship with Panerai. After that Cabestan produced some very interesting highly limited Ferrari timepieces. There might be even more history that I am not considering. Starting today it is all about Ferrari and Hublot exclusively. With Hublot's strong track record being the official watch maker for Formula 1, they were probably able to show Ferrari all the highly marketable high-end pieces that they can produce. I anticipate some cool watches and events moving forward.