FRANKFURT (Reuters) - German fashion brand Hugo Boss will end its motorsport tie-up with Formula One from next year to move into Formula E, Chief Executive Mark Langer told German weekly Focus.
Hugo Boss has been partnered with the Mercedes-AMG Petronas F1 team since 2015, when it ended a decades-long association with McLaren.
“Of course Formula One is the top class of motor racing, but Formula E is more innovative and sustainable,” the magazine quoted Langer as saying.
“The engines, the races in major cities, that’s something a younger audience likes, which offers new opportunities.”
Langer said the cost of sponsorship did not play a role in the decision to switch.
“After many years in Formula One, really since (German racing driver) Jochen Mass in the Seventies, we have been thinking what is the next thing?” Langer told Focus.
Reporting by Maria Sheahan; Editing by David Goodman