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While Formula 1 may be struggling to invigorate the spectacle of racing amid another anticipated year of Red Bull dominance, one area it is not struggling in is the off-track coffers. With more races than ever before, and the bumper profits that go with it, an inevitable side-effect is wandering eyes from afar. The sport’s governing body, the FIA, has thus opened an “expressions of interest” process in January for new potential teams to join the current 10-team grid, perhaps as soon as 2025. Enter Calvin Lo: a Hong Kong-based billionaire. CEO of R.E. Lee International, the world’s largest life insurance broker, the 45-year-old has been “hooked” on the sport since glimpsing Michael Schumacher’s Ferrari on TV in the early 2000s. A trip to Shanghai for the first Chinese Grand Prix in 2004 underlined that adoration. But now, spectating from the paddock isn’t enough. “I’m having serious discussions about getting involved right now,” he tells The Independent, from an office in Singapore, with all the paperwork lying in front of him. “There’s actually quite a few proposals in front of me right now to see how I can participate. “F1 needs more teams. There’s too many talents in motorsport to not have more teams. But when I go through it, it is highly aspirational and absolutely, very ambitious. Still, I’d loved to be involved financially.” But not at the cost of his reputation. Financial prudence and sustainability are at the forefront of his thinking, with the extended FIA deadline for applications closing on Sunday. The entrance fee for any new team is $200m, shared by all the current teams. Mercedes boss Toto Wolff has previously remarked that $1bn is realistically required to fight at the front, a figure Lo agrees is “fair” given the basic costs of recruitment and car development. “I won’t get myself into that vicious cycle where I can’t hit those financial markers,” he says, adamantly. “Putting money into the team is not the difficult part. It’s making sure it’s sustainable; otherwise it’s embarrassing for everyone. It’s very intricate, even with an established group of people, with all the sponsorship and the detail. “But there’s so much potential in this part of the world – it’d be so advantageous to the Asian community and to the F1 ecosystem.” Audi have already confirmed their entry in 2026, taking over from Alfa Romeo (Sauber), while American giant Ford has partnered with Red Bull for the world champions’ new powertrains division. While Lo was tight-lipped about naming potential partnerships, he did emphasise his eagerness to join forces with a new team via the current FIA process. Confirmed bids from Andretti Cadillac, as well as a mooted submission from junior formula outfit Hitech GP, were ruled out. An association with Panthera Team Asia, therefore, seems most probable at this point. Lo also has a financial link with Williams’ F1 team, who were bought by private investment firm Dorilton Capital nearly three years ago, but non-disclosure agreements preclude him from elaborating further. He was insistent, however, that any new team would not present a conflict of interest. Instead, his new venture, likely based out of Asia, would be his primary focus. The continent is a “huge untapped market” for the sport, in Lo’s view, amid the Americanisation of the sport witnessed at the weekend in Miami. An academy for drivers and academics alike is also a target. “To truly make F1 global, we cannot forget this part of the world,” he says. “There are races, but the penetration is not high and it’s wasted. “I would love to have an Asian team with a base in the Pearl River Delta [the wealthiest region in south China]. The initial few seasons would be tough but it’s important for the sport to have more exposure and commitment here. “It’d be great to have an academy here. Recruiting talents not just for F1, but aeronautics and legal avenues. For young people to be exposed to this kind of world, it could change someone’s life. “With [F1’s new regulations in] 2026 and the net-zero target of 2030, now is the perfect time to be involved behind the scenes.” Working in the shadows is just how Lo operates. Widely publicised as the “secretive” or “under-the-radar” billionaire – who has a net worth of $1.7bn (£1.3bn) according to Forbes – he covets privacy, despite a lucrative lifestyle which includes owning a suite of supercars and a collection of tip-top champagne, with a single batch costing $230m. “If I go into F1, you won’t see me,” he reveals. “It’s not my style. It’s also partly to do with my main business and working with clients. “In my view, the wealthier you are… you don’t go out and flaunt it. Well some do, most don’t!” McLaren CEO Zak Brown believes there will be at least four prospective teams interested in joining the sport, while F1’s regulations cater for only two more spots. Lo has been included in an initial application to play a financial role – even if he won’t be the face of said new team – and the FIA intends on making a decision about which teams will be granted a shot at the big time by the end of June. “By 2026, it will be a different world we live in and it’d be pretty amazing to be part of that change,” he concludes. “It’s now about looking at all the plans and making a decision truly from a financial point of view. “The skeleton is already there. It’s now just getting everyone to commit themselves.” Read More FIA formally opens applications for new teams to join F1 grid Andretti joins forces with General Motors to target Formula 1 entry FIA boss ‘surprised’ at ‘adverse reaction’ to Andretti’s F1 bid with Cadillac Aussie billionaire David Dicker enters race for new team to join F1 grid Ford to rejoin Formula 1 as engine partner for Red Bull from 2026

I remember the day I realised the embodiment of my persona was a long-sleeve ironed shirt with only the collar close-lipped. Initially, I gravitated toward the crisp button-down for function, as my former workplace tended to emit heaps of chilly air, but a spontaneous feeling compelled me to button the top, leaving the rest of the shirt open. It may have been, in part, my obsession with wanting to define my look outside of popular construction or how this new silhouette framed my figure. Regardless, the androgynous piece of clothing left me feeling more confident than ever before. A clothing rack full of these formal tops sits perpendicular to my bed now, and I wear them strategically closed with almost every outfit. I couldn’t tell you exactly what it is about them that makes me feel alluring and powerful, but my style hasn’t been the same since. Now more than ever, women are setting aside archival forms of womenswear for the structure of men’s clothing, assuming their most confident, authentic selves. Mini denim shorts, bodycon dresses, and micro skirts are being swapped for baggy jorts and boxers. Individuals are donning contrasting proportions, taking risks, and exuding self-assurance in items that have historically been deemed representative of masculine codes in Western fashion. In doing so, women are diminishing the gap between gendered collections. According to Hazel Clark, professor of fashion studies at Parsons School of Design, women initiated the crossover between menswear and womenswear in the early 19th century when they started working in coal mines and riding horses. A working-class of women deliberately assumed the male dress code, whether business or activity related, because womenswear constricted their necessary movement with tight bodices and corded petticoats. Here, function and ability took precedent over society’s expectation of femininity as more opted to dirty a pair of trousers instead of their voluptuous gowns. Heading into the Second World War and the 20th century, the design gap minimised further when women’s roles in society advanced. In the 1940s, men were forced to leave their factory jobs for war, leaving their female counterparts to fill their positions. For women to be respected in the workplace, they mirrored the male look and wore the classic pantsuit. Francesca Granata, professor of fashion theory and history at Parsons, identified the “power suit of the 1980s” as “a classic instance of women trying to access men’s power in the workplace by wearing an outfit which imitated menswear and with wife shoulders: the ideal male physique.” She noted: “Yet the wide-shouldered suit jacket was often rendered appropriately feminine by being paired with a skirt.” With this came an influx of women wearing these masculine codes outside of the workplace. Though my grey dress pants from the men’s section of a closet sale were welcomed into my weekly rotation almost immediately, it took a lot of courage and self-assurance back then for women to wear similar pairs, just like it did for them to wear miniskirts when both styles were socially unacceptable. The initial need for “businesswear” transformed into desired style even if it meant a woman could be labeled as “inappropriate” or be refused at the door of an establishment. Looks from men turned to public disapproval, but that didn’t stop the progression of women dressing in menswear at all. “Although baggy clothing has been acceptable for men for quite some time, especially in the US, unlike older appropriation of menswear which were often adapted to be more skintight or revealing or somewhat rendered ‘feminine’ baggy clothes question the old dictum that women’s bodies should be on display for the male gaze,” Professor Granata remarked. In other words, this “sense of power dressing” left the confines of the office environment alongside any lingering thought to the heteronormative gaze. Fast forward to the early 21st century, when the groundwork for this fashion fusion had been laid in terms of utility and preference. As society began to understand sexuality and gender fluidity, non-gendered collections became increasingly popular. Designers became more proactive about creating androgynous clothing that didn’t need to be separated into the two typical identifiers: women and men. “Fashion must get to a point where we don’t have to talk about gender,” designer and creative director of Loewe Jonathan Anderson wrote in Amelia Anderson’s “What We Can Do Better” in 2021, nine years after he introduced the first transgender collection for his eponymous brand. “Fashion can be a way to experiment with character or to work out your identity, and I believe that clothes can have a protective role on a more emotional level.” Anderson’s obsession with how queer individuals dressed contributed to his perception that fashion can be used to “break the rules”. To him, clothing is a marker of individuality and subculture, which is what motivates him to create designs for people to express themselves free from outdated norms. Between boxy, textured T-shirts, bouncy blouses, and tailored high-waisted pants, Anderson’s worked to incorporate rival style cues even in his gender-specific collections. “Clothing is full of paradoxes, but ultimately it can empower us - and in a world that has historically taken power away from queer people, that can be vital,” he proclaimed. “In a world that often expects certain things for certain people when it comes to clothes - where society wants men, say, to wear some things, and women to wear others - I sometimes question why I do menswear and womenswear shows. But for me, it’s not about classifying people, it’s about using these categories as ideas - ideas to borrow from.” As designers helped bridge the gap, celebrities like Hailey Bieber and Bella Hadid have been seen being more experimental in campaigns for big name brands as well as in their personal street style. The 26-year-old Rhode Skin founder has been a recognised ambassador for the French fashion house, Yves-Saint Laurent, a company which has irrevocably impacted womenswear since their 1966 creation of a menswear-motivated tuxedo for women called “Le Smoking.” Both Bieber and Hadid blend feminine and masculine codes in everyday wear, leading the craze for oversized jean shorts and lengthy vintage sportswear paired with dainty ballet flats and platform boots. Other brands, such as Uniqlo and Thom Browne, design collections labelled and distributed as menswear and womenswear, but the items are still being bought and worn interchangeably. “It’s hard to explain,” Marissa Petteruti, senior menswear designer at Rag & Bone, tells The Independent when asked why she feels more assured in men’s clothing over feminine-labelled pieces. “I’ve always just felt more comfortable in, you know, oversized men’s shirts and pants. I kind of always have gravitated toward men’s fashion. I remember when I was a kid, my parents used to tell me: ‘You have to wear a skirt one day a week.’ I never saw why I couldn’t wear whatever I wanted. So maybe part of it became going against what my parents wanted me to do.” Petteruti has cultivated a closet full of suit pants, designer shirts, and vintage bomber jackets in pursuit of the perfect capsule wardrobe and collection of exclusive ready-to-wear. Ever since she attended the Parsons School of Design, pressure and expectation were absent from her style. Here, Petteruti was drawn to the serenity of menswear, and she appreciated the simplicity of its form more than women’s clothing. Her eyes wandered to streetwear brands such as Supreme and Hood-by-Air because the concept of a lux T-shirt intrigued her, and oversized pieces were pleasing. When she started at Rag & Bone, she learned that men’s tailoring was more extensive, but even so, the trends were ephemeral - meaning the pieces were inherently timeless. Womenswear detailing such as peplum cuts, scallop or lace trimming, floral embellishments, and sheer fabrics tend to cycle through seasonal collections more frequently than the stylistic choices and material preferences within menswear. The classic button-down may be presented in a specific range of colours depending on whether it’s fall or spring, but the shape and design stay the same. In other words, womenswear is more likely to follow suit with trends. Industry leaders and A-listers embracing a more avant-garde mindset in ready-to-wear and street style begs the question of whether brands will ever officially scrap the formal separation of womenswear and menswear. “Why do they have to be called ‘men’s clothing’? Just ‘cause you put the buttons on one side of the shirt and the fly on one side of the shirt and the reverse. It’s, it’s silly to me,” Petteruti agreed when asked if she thought the division was necessary. “I mean, the interesting thing about fashion now is at any given moment, it’s so diverse. We don’t all wear the same things to be in fashion. If we wanted to be in fashion, I mean, regardless of our sort of age or gender, you know, they’re like lots of different choices we can make, depending on the kind of the group we associate with or who we follow,” Clark explained. But Clark doesn’t believe concrete separation is on the horizon, due to the sizing and proportional differences between a man versus a woman. “Men’s and women’s bodies are different. You know, I mean, that’s part of it. Size and physique will prevent womenswear and menswear from being entirely infused with one another,” she proclaimed. Petteruti would argue that there’s potential. Already, she’s seen Rag & Bone mix more feminine codes into their menswear designs with varying fabrics and silhouettes. Being that inspiration is often plucked from the demand and visibility of others who motivate obsessions, the runway no longer dictates style fads. This means it may be expensive on the backend for companies, but we could see collections move away from the label if consumers want more androgynous, unisex pieces. As for Granata, she interprets the division of womenswear and menswear as already having been “tenuous,” which is exactly why women found themselves gravitating toward masculine codes to begin with. Read More How hip-hop went from being shunned by big business to multimillion-dollar collabs Dior celebrates 5 years as designer in gender-fluid Paris men's show Womenswear leads the way as Ted Baker sales soar

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Red Bull chief Christian Horner has accused Lewis Hamilton of having a “selective memory” after his comments on Max Verstappen’s dominance. The Dutchman has won 17 of the 20 races so far this season, while Red Bull have only been beaten to victory once in 2023. It continues a dominant two years for the manufacturer with Verstappen having sewn up three consecutive world titles to establish himself as the sport’s most dominant driver. Verstappen’s success follows a long period where Mercedes led the way, with Hamilton winning six Drivers’ Championships in seven years between 2014 and 2020. The Brit expressed his concern after the Brazilian Grand Prix last weekend that Red Bull were “so far clear” that other teams would struggle to close the gap and provide a genuine title challenge. But having enjoyed his own spell at the top of the sport, Horner believes that Hamilton should be careful passing comment on his team’s dominance. “I feel like he’s got selective memory,” said Horner of Hamilton on the Eff Won with DRS podcast. “So you know, some of the winning that they did in that period was just obscene. We’ve had a good run for a couple of years, but the one guy that shouldn’t be saying that, I would think, is Lewis.” Verstappen’s first title was secured in contentious circumstances at the Abu Dhabi Grand Prix in 2021. After a back-and-forth battle between the Red Bull driver and Hamilton, seeking a record eighth world title, Verstappen passed his rival on the final lap of the season to take overall victory. Red Bull have accelerated away from their rivals since but Horner is confident that the field will “converge” again. “My job is to make sure we’re winning, that’s my job,” Horner stressed. “And 2021 was the biggest fight in the history of the sport. It was just heavyweight from the first race to the final in Abu Dhabi, where the two drivers ended up [with the] same points. Unbelievable. “And that year aged me physically! So, the last couple of years have been kind of pleasant that they’ve been slightly less stressful, but what you can guarantee is that the field is going to converge, and it’s only a matter of time. And you can already see that happening. You’re going to see the field come much closer, you’re starting to see it.” Read More Christian Horner drops Daniel Ricciardo hint as pressure mounts on Sergio Perez Max Verstappen urges fans to show him respect ahead of feisty Mexican Grand Prix F1 boss urges teams to improve and close gap after Max Verstappen dominance F1 boss urges teams to improve and close gap after Max Verstappen dominance Martin Brundle predicts F1 sprint change to produce ‘thrilling’ Saturdays in 2024 Machine Gun Kelly defends bizarre clash with F1 presenter at Brazilian Grand Prix

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The year was 2013. New York-based brand Mansur Gavriel had just launched its first-ever collection, a line of leather handbags that included a bucket bag. Despite its simple black-and-red, drawstring silhouette, the style was instantly spotted on the arms of bloggers and fashion insiders. Demand was so high that the designers Rachel Mansur and Floriana Gavriel, both art school graduates with no fashion experience who met at a concert in 2010, couldn’t keep up production, prompting a waitlist. “The bucket bag [silhouette] has such a history,” says Mansur. “I think we interpreted it in a very modern way at the time.”

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