With Franco Valobra's vision and the support from Valobra Jewelers, and Ferrari of Houston, the Ferrari Festival was born with merely two dozen Ferraris showcased in the elegant setting of Highland Village.

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In 2018, passed on by founder Franco Valobra, Ferrari of Houston took over the stewardship of the festival. The festival has grown year over year ever since and attracts over 4,000 "Ferrarista's" to River Oaks District each year.

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In 2021, the Festival broke its record and raised $150,000 for Texas Children's Cancer Center.