Italian fashion house Gucci is to enter Formula 1 for the first time next year as title sponsor for Alpine.

It is the first time that a luxury clothing brand has tied up with an F1 team in such a partnership, as Gucci replaces Alpine's current backer BWT.

While the official announcement of the Gucci/Alpine deal did not reveal any details on the scale of the partnership – beyond that it is multi-year – it is estimated that the new deal is worth somewhere between $50-60 million per season.

That means, with the contract expected to run for at least three years and having a bonus payment on top if Alpine achieves certain success thresholds, it is set to be worth in excess of $150 million. 

Gucci is going all-in with its involvement, with the official name of the team to become ‘Gucci Racing Alpine F1 Team’.

A new black and gold logo for Gucci Racing has been revealed, using the company's famous G logo, and its colours are set to dominate the livery of Alpine’s 2027 car.

Gucci is understood to want to have “as much as possible” real estate on the car, although Alpine is determined to ensure that there remains some of its own blue branding.

While a lot of the plans for next year have not been finalised yet, as the deal has only just got across the line, Gucci does plan to design bespoke products for the Alpine team, which will not only include paddock wear but also performance products for mechanics and drivers.

The Gucci deal was spearheaded by Alpine’s executive advisor, Flavio Briatore, who shot to fame in F1 when he took the fashion house Benetton to title success in the early 1990s.

Ex-Renault CEO Luca de Meo is now the CEO of the Kering parent company that includes Gucci.

As well as the financial boost from the partnership, Briatore sees an opportunity to exploit the presence of Gucci in F1 and repeat the successes he has achieved in the past.

“Partnering with a prestigious brand of Gucci’s calibre in F1 as title partner of Alpine is something I am incredibly proud of,” he said.

“Not only that, but I am also excited about the possibilities the partnership with Gucci brings and the great things we can achieve together at a global level.

“The Enstone Team has a history of doing things differently to others and has previously shown that fashion can finish first in F1.”

While Gucci has looked at getting involved in F1 in the past, it has elected to join up now because it sees the changing fan base as something it needs to tap into.

It thinks a booming global audience, which is increasingly young and more female, is exactly the market it should be chasing.

Francesca Bellettini, president and CEO of Gucci: “It reflects our ambition for the brand and the role we want Gucci to play on this stage.

“F1 represents today a unique convergence of performance, culture, and global reach, and Alpine is the right partner to bring this vision to life.”