Gucci Racing is Benetton 2.0 warns Flavio Briatore as end of Renault-Alpine in Formula 1 approaches

The killing of Renault was slow and painful, as they suffered the humiliation of turning into Alpine, albeit still powered by Renault PUs. But that's too gone; now it is Mercedes powering the Alpines. Their awkward sporting brand that too will die and all but stomp out the final embers of Renault as it morphs into Gucci Racing next year.

A modern Formula 1 tragedy to some, to others such as the team's advisor Flavio Briatore it is the beginning of another golden age for the legendary Enstone-based outfit.

Briatore believes the Gucci partnership elevates the team's profile well beyond traditional motorsport sponsorship. Asked about the project, he smiled: "Yes, I love it."

When it was suggested the team could become the best looking outfit in the paddock next year, Briatore explained: "We worked for six or seven months. For five months nobody knew we were negotiating with Gucci. Only a few people were involved.

"Gucci is still one of the three best brands in the world. I needed something to upgrade the name of the team. The most important thing for me was Gucci with Alpine."

Briatore continued: "Gucci is already up, and we have the first luxury brand on the car in Formula 1. Louis Vuitton sponsors the event. The Gucci deal had 1.2 billion visualisations. It was huge. The people at Gucci are very enthusiastic to be in Formula 1.

"I believe it's a super deal for the team, for the Gucci brand, and for the finances as well. We're doing merchandising, one line in every Gucci shop. The place I have in Monaco on the beach, Larvotto, is now branded with Gucci.

"Every day girls arrive with Gucci dresses for Instagram. The restaurant is fully booked. It was already successful, but now it's overbooked. It's unbelievable. I believe it was a very successful deal."

The comparison with Briatore's championship winning Benetton team was one he embraced immediately. Asked whether Gucci Racing felt like "Benetton 2.0", Briatore replied: "100%. Benetton was a T shirt maker. Ron Dennis said we would never make it because we were so good at making T shirts.

"This is a different business. Managing people, we did it with Benetton with zero minus twelve experience. I had never seen a Formula 1 race in my life. The only guy I knew was Jackie Stewart because he lived in my building in New York."

Briatore even laughed about his first management decisions: "I put him in contact... After two or three days I fired him. We are still very good friends. At the time I knew I was in trouble. I don't need anybody to tell me I'm in trouble. I know myself."

Briatore believes Formula 1 has reached unprecedented commercial heights under Liberty Media and CEO Stefano Domenicali: "Since Liberty took over and Stefano is in charge, it's growing massively and very quickly," he said.

"Look at all the sponsors. We have the best sponsors in the world. We have Gucci on the car and Louis Vuitton as well, the two biggest luxury brands. Stefano realised having Gucci in Formula 1 is huge. Formula 1 now is at a very high level."

Having worked closely with both Bernie Ecclestone and Domenicali, Briatore also compared the two leaders: "Both are successful. Stefano is much more open and much more modern. They are two different ways.

"Bernie was a one way boss. Stefano thinks about things, works much closer with the teams and sponsors, and is more available to the team principals. But both had very good success."

Benetton became one of Formula 1's greatest success stories after entering the sport in 1986 by acquiring the struggling Toleman team. Owned by the Italian fashion family, the Enstone based outfit transformed from a midfield operation into a World Championship winner under Briatore.

The team's greatest success came with Michael Schumacher, who delivered Drivers' titles in 1994 and 1995, while Benetton claimed its only Constructors' Championship in 1995 with the B195. Schumacher was responsible for 19 of the team's 27 Formula 1 victories.

Across 16 seasons, Benetton recorded 27 wins, 102 podiums, 15 pole positions and 2 Drivers' Championships before Schumacher departed for Ferrari and the team's fortunes declined.

Renault purchased the team in 2000, with Benetton racing for two final seasons before becoming Renault F1 in 2002. Despite the name changes through Renault, Lotus, Alpine and now Gucci Racing, the Enstone factory that delivered Benetton's glory remains the heart of the team today.

Whether Gucci Racing becomes another Benetton remains to be seen. What is certain is that Renault's long Formula 1 legacy is now effectively over, replaced by a bold commercial vision that Briatore believes can return the Enstone team to the front of the grid. Let's see...