SportBusiness.com

Renault sign sponsor deal

Formula One team Renault has signed a multi-year sponsorship deal with an Italian clothing firm.

The deal with the Mild Seven Renault F1 Team and Guru, allows the team to tap into the potentially lucrative youth casual wear market.

Said managing director Flavio Briatore: "They are a young, fashionable brand, and the company has accomplished a remarkable amount in a short space of time. Renault returned to Formula 1 two years ago, and in spite of our success last year, we are still building for the future. It makes sense for these two young, successful companies to team up."

Guru, formed in 1999, sell four million garments a year.