Gucci is accelerating its push into sports.
On Wednesday, the luxury brand was announced as the title sponsor for the Alpine Formula One team starting in 2027. The partnership, which will change the French team’s name to Gucci Racing Alpine F1 Team, is worth an estimated $50 million to $60 million per season for at least three years, according to The Race.
Alpine will also adapt Gucci’s brand colors (black, gold, red, and green), replacing its current blue and pink color scheme.
Gucci enters F1 at a time of significant growth for the motorsports championship. F1 expanded to a record 24 races in 2023 (though two races were canceled earlier this year due to the war in the Middle East). The grid expanded to 11 teams this year for the first time since 2016 following the addition of Audi.
Viewership numbers in the U.S. last year more than doubled the number in 2018 on ESPN networks. F1 parlayed that success into a five-year, $700 million media deal with Apple.
