Hugo Boss chief executive Mark Langer has revealed that the German fashion house will end its partnership with Formula One motor-racing team Mercedes in favour of switching its motorsport sponsorship strategy to the Formula E electric car-racing series.
Hugo Boss partnered with Mercedes in 2015 after ending a 30-year relationship with rival F1 team McLaren.
The company is now set to end its long-running association with F1 at the end of the current season as it seeks to tap into what Langer views as the more “sustainable” Formula E market.
“Of course Formula One is the top class of motor racing, but Formula E is more innovative and sustainable,” Langer said, according to German magazine Focus.
“The engines, the races in major cities, that's something a younger audience likes, which offers new opportunities.”
Langer added that the decision to end Hugo Boss’ ties with Mercedes was not money-related. “After many years in Formula One, ever since Jochen Mass in the 1970s, we have been thinking ‘what is the next thing?’”