Photo credits: Scuderia AlphaTauri
Scuderia AlphaTauri is no stranger to change, having already replaced Nyck de Vries with Daniel Ricciardo before the midway point of 2023. Now, it seems, change once again seems to be the constant at the Faenza-based team in 2024. It was already known that long term team principal Franz Tost would be replaced by Scuderia Ferrari’s former Sporting Director Laurent Mekies next year and even before that, former FIA executive Peter Bayer will join the Team as Chief Executive Officer later this year. However, the latest headline grabbing news is the fact that Red Bull has been trying to source a new headline sponsor for the team and Hugo Boss appears to be one of the front runners.
In news published on RacingNews365.com and Formula.Hu, global fashion icon Hugo Boss is negotiating becoming title sponsor to a rebranded Scuderia AlphaTauri in 2024. Having previously been the subject of speculation that the team would be sold, this speculation reinforces the fact that the Red Bull family has no such plans to do so.
Hugo Boss previously set a record-breaking sponsorship in F1 after more than 30 years with McLaren – before switching to Mercedes for the 2015 season. However, the fashion label left F1 completely and directed its attention to Formula E after then CEO Mark Langer announced in 2017 “Of course F1 is the pinnacle of racing but Formula E is innovative and sustainable.”
When the Supervisory Board of Hugo Boss AG appointed Daniel Grieder as CEO of Hugo Boss AG for a period of five years back in June 2021, it was clear that Formula One was back in its sights.
Hugo Boss CEO Daniel Grieder is no stranger to the Formula One grid having been photographed in front of Lewis Hamilton’s Mercedes back in 2019 at the Monaco Formula One Grand Prix. Back then, Grieder was plying his craft with Tommy Hilfiger and was well positioned over the following years to see the impact that came from Hilfiger being associated with the Silver Arrows. The knock-on effect being that the fashion label found a younger diverse audience and a subsequent increase in sales.
Hugo Boss first made the decision to return to F1 when it became a sponsor for the Aston Martin F1 Team as its official fashion partner for 2023. After carefully considering the steps that the sport had announced towards reducing its global environmental impact – the news of a 100% sustainable fuel in 2026 and the aim to become a net-zero carbon sport by 2030 – the fashion giant was eager to return. Therefore, if the rumour of the AlphaTauri interest is to be believed, it can be assumed that it will surely mean an end to any Aston Martin association in 2024.
When Daniel Grieder took control of Hugo Boss in 2021, he was very vocal in hoping to achieve $4 billion in sales by 2025. Even during a period which has included a global pandemic, a ‘better-than-expected sales performance’ has seen this target readjusted to $5 billion per year – in the same timeframe.
Hugo Boss are not the only ones in the conversation with AlphaTauri, as current team sponsor Orlen are supposedly also in the running for 2024. However, Daniel Grieder was quoted as saying in an interview with ‘Motorsport Magazin’ back in 2021 that he wants to buy other brands in order to grow the German fashion house and an F1 team title sponsor takeover would obviously fit such an ambition.
