German fashion giants Hugo Boss have confirmed that they won’t be extending their deal with Formula E for a seventh season, in order to “focus only on Formula 1”.
The news comes following several reports that the brand is close to being named as the new title sponsor of Red Bull’s sister team, AlphaTauri, who are set to undergo a complete rebrand for 2024.
It comes as a huge blow to Formula E, given that Hugo Boss has been a strong partner since season four (2017/18), leaving the all-electric series to find a new key sponsor in very little time. The fashion brand were one of the sport’s title sponsors for the past six campaigns and were key to their VIP hospitality.
Formula E’s VIP area was previously known as the ‘Boss E-Motion Club’, but this will need to be renamed ahead of the season-opening Mexico City E-Prix in January.
There is some uncertainty over the state of Hugo Boss’ relationship with the TAG Heuer Porsche Formula E Team following their exit of the sport, as they’re a sponsor of the Stuttgart-based outfit. Hugo Boss’ presence in the Formula E paddock was significant and will certainly be missed in season 10, with the company stating that it’s “been a great partnership”.
“We can confirm that our contract as a partner of Formula E will expire at the end of this season. It has been a great partnership for us and together with Porsche we have delighted a large number of fans worldwide over the years,” a spokesperson for the company told Motorsport-Magazin.com.
Hugo Boss’ exit from Formula E is purely to direct all their attention onto F1, which is set to be the “only” series they’ll focus on going forwards. The brand only returned to F1 last season with Aston Martin, having left the championship in 2017 to move over to Formula E.
Their priorities have since changed again though, with their sudden departure coming right when the rumours linking them to Red Bull and AlphaTauri are at their peak.
“Hugo Boss is realigning its existing commitments in sport and we will focus only on Formula 1 in the future,” the spokesperson added.