With Franco Valobra's vision and the support from Valobra Jewelers, 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, Tony Nevotti & Diane Caplan 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.