Major Taylor was Black and one of, if not the first, true international sports celebrities. https://en.wikipedia.org/wiki/Major_Taylor
Just to contrast:
From 1893 to 1900 Benz sold the four wheel, two seat Victoria,[19] a two-passenger automobile with a 2.2 kW (3.0 hp) engine, which could reach the top speed of 18 km/h (11 mph) and had a pivotal front axle operated by a roller-chained tiller for steering. The model was successful with 85 units sold in 1893, and was produced in a four-seated version with face-to-face seat benches called the "Vis-à-Vis".
From 1894 to 1902, Benz produced over 1,200 of what some consider the first mass-produced car, the Velocipede, later known as the Benz Velo.[20] The early Velo had a 1L 1.5-metric-horsepower (1.5 hp; 1.1 kW) engine, and later a 3-metric-horsepower (3 hp; 2 kW) engine. giving a top speed of 19 km/h (12 mph).
The Velo participated in the world's first automobile race, the 1894 Paris to Rouen, where Émile Roger finished 14th, after covering the 126 km (78 mi) in 10 hours 01-minute at an average speed of 12.7 km/h (7.9 mph).
In 1895, Benz designed the first truck with an internal combustion engine in history. Benz also built the first motor buses in history in 1895, for the Netphener bus company.[21][22][23]
In 1896, Benz was granted a patent for his design of the first flat engine. It had horizontally opposed pistons, a design in which the corresponding pistons reach top dead centre simultaneously, thus balancing each other with respect to momentum. Many flat engines, particularly those with four or fewer cylinders, are arranged as "boxer engines", boxermotor in German, and also are known as "horizontally opposed engines".
It was probably more of a general position of doing whatever needed to be done. They likely wanted the prestige of having some one so famous and competitive associated with the shop. That is typical still with high end shops; sponsor a few of the best local racers and your shop gets known quickly within that scene.
Looking at he pic, the hats were the "club" aspect of that shop, like a kit or jersey would be for a shop now.