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Sportswear Startup Agilitas Acquires Brand Licence For Lotto
Inc42
·
1y ago
Medial
Sportswear startup Agilitas Sports has acquired the brand licence for Italian sports brand Lotto. Under a 40-year licence deal, Agilitas has exclusive rights to design, manufacture, and distribute Lotto products in India, South Asia, and Australia. The startup plans to offer footwear, apparel, accessories, and sports equipment under the Lotto brand. Agilitas will manufacture Lotto shoes at its recently-acquired Mochiko sportswear manufacturing brand's Noida factory, with products expected to launch in early 2025. The company aims to create a vertically integrated supply chain and react quickly to consumer insights and trends. Agilitas has raised INR 530 Cr in funding.
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Agilitas Sports acquires exclusive license of Lotto for India and other markets
Entrackr
·
1y ago
Medial
Agilitas Sports, a sportswear and athleisure solutions platform, has acquired the brand license for Italian sports brand Lotto from owner WHP Global. Through this long-term license, Agilitas has the exclusive rights to design, manufacture, promote, and distribute the Lotto brand in India, Australia, and soon in South Africa. “Through this 40-year license agreement, we will build and implement state-of-the-art manufacturing, cutting-edge technology, and design innovation for Lotto for its product development, in addition to marketing and retailing of the brand,” said Abhishek Ganguly, co-founder and CEO of Agilitas Sports. He added that Agilitas will invest in a dedicated management team to grow the Lotto brand through product creation, design innovation, supply chain, branding, marketing, and channels of distribution. With an aim to launch by early 2025, Agilitas plans a multi-category offering in footwear, apparel, accessories, and sports equipment. In September 2023, it acquired Mochiko, a manufacturer of sports footwear for brands such as Adidas, New Balance, and Reebok. As per the company, Mochiko’s establishment of a dedicated factory in Noida to manufacture Lotto validates Agilitas Sports’ commitment to manufacturing in India. Founded by former Puma India managing director Ganguly along with his colleagues Atul Bajaj and Amit Prabhu, Agilitas Sports has already raised more than $60 million across two rounds from a fund managed by Convergent Finance LLP and Nexus Venture Partners. Earlier this month, Agilitas Sports appointed Richard Zartman as the vice president of footwear design. As part of the founding team, Richard will lead the group’s portfolio of athletic sportswear brands.
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Agilitas appoints Nirdosh Chouhan as chief technology and product officer
Economic Times
·
1y ago
Medial
Athleisure brand Agilitas Sports has announced the appointment of Nirdosh Chouhan as its Chief Technology and Product Officer. With over twenty years of experience in technology and product development, Chouhan will lead the company's technological innovation in the athleisure and sports footwear sector. Agilitas Sports recently acquired the Indian license for Italian shoe brand Lotto and aims to revolutionize the sportswear industry. Chouhan's appointment is expected to further drive innovation and deliver exceptional experiences to customers.
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Agilitas Sports raises strategic money from Spring Marketing Capital
Entrackr
·
10m ago
Medial
Sportswear and athleisure solutions platform Agilitas Sports has secured strategic investment from Spring Marketing Capital. While the details of the funding amount have not been disclosed, this partnership is expected to advance Agilitas towards becoming a key player in the sportswear industry, according to the company’s press release. Abhishek Ganguly, the CEO and Co-founder of Agilitas Sports, highlighted that this new investment will enhance their capabilities to expand and develop their brand portfolio further. Founded by former Puma India managing director Ganguly along with his colleagues Atul Bajaj and Amit Prabhu, Agilitas Sports has already scooped up more than $60 million across two rounds from a fund managed by Convergent Finance LLP and Nexus Venture Partners. In April, it acquired the brand license for Italian sports brand Lotto from owner WHP Global. Last year, the firm took over Mochiko, a manufacturer of sports footwear for brands such as Adidas, New Balance, and Reebok. Agilitas Sports has also made substantial investments in manufacturing, research and development, marketing, and distribution, with the goal of revolutionizing the sportswear market in India and beyond.
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Sportswear Startup Agilitas Gets Funding From Spring Marketing To Expand Portfolio
Inc42
·
10m ago
Medial
Agilitas Sports, a sports footwear company, has raised funds to boost its brand portfolio, expand its presence in India, and venture into international markets. The company, which aims to cover the entire value chain from manufacturing to retail, recently secured exclusive rights for the Italian sports brand Lotto in India, Australia, and South Africa.
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Virat Kohli acquires 1.94% in Agilitas Sports; Abhishek Sharma joins as investor
Entrackr
·
1m ago
Medial
Virat Kohli acquires 1.94% in Agilitas Sports; Abhishek Sharma joins as investor Indian cricketing icon Virat Kohli has invested Rs 40 crore (approximately $4.7 million) in Agilitas Sports, a sporting goods manufacturing company, as part of the first tranche of what is reportedly a larger funding round. This investment adds to Kohli’s growing startup portfolio, which already includes ventures like Rage Coffee, Digit Insurance, Mobile Premier League (MPL), and Wrogn, among several others. The board of Agilitas Sports allotted 3,61,611 class 2 CCPS at an issue price of Rs 1,106 each to raise the aforementioned amount, its regulatory filing accessed from Registrar of Companies (RoC) shows. In addition to this, the firm is also raising Rs 3 crore from SMLINE Ventures and Indian cricketer Abhishek Sharma, another filing shows. According to Entrackr’s estimates, the Bengaluru-based firm has been valued at Rs 2,058 crore (approximately $242 million) post money. Agilitas Sports has so far raised over Rs 600 crore to date, including a strategic investment of Rs 15 crore from Spring Marketing Capital in September last year. Following the latest infusion, Mauritius-based Infinity Direct Holdings has emerged as the largest shareholder in the company with a 37.73% stake, followed by Co-founder and CEO Abhishek Ganguly, who holds an 18.26% stake. Nexus Venture Partners owns 9.16%, while cricketers Virat Kohli and Yuvraj Singh hold 1.94% and 0.51% stakes, respectively. Founded in 2023 by ex-Puma India head Ganguly, Agilitas Sports follows an integrated model, combining manufacturing, brand licensing, and retail. It recently acquired Mochiko Shoes, which makes footwear for brands like Adidas and Puma. Agilitas is also building its own brands, including Lotto in India and Australia, and plans to expand through retail and a strong “Make in India” focus. Virat Kohli recently ended his Rs 110 crore endorsement deal with Puma India which began in 2017 and was reportedly valued at Rs 300 crore at the time of exit in 2025, to join Agilitas Sports. He is expected to not only serve as the brand ambassador but also play a role in the company’s business decisions.
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Abhishek Ganguly’s Agilitas Sports acquires footwear maker Mochiko Shoes
Livemint
·
1y ago
Medial
Agilitas Sports, led by former Puma India head Abhishek Ganguly, has acquired sports footwear manufacturer Mochiko Shoes in a deal aimed at strengthening Agilitas' supply chain in the growing sports footwear market. The acquisition will position Agilitas to "Make in India" and cater to the country's expanding youth population. Mochiko Shoes collaborates with international sports brands, including Puma, Adidas, New Balance, and more. It generated a revenue of ₹642 crore in FY2023 and is fully compliant with the Indian government's Quality Control Orders for footwear manufacturing.
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Virat Kohli to end his 8-year deal with Puma
Livemint
·
1y ago
Medial
Indian cricketer Virat Kohli is set to end his 8-year deal with Puma India and become the brand ambassador for Agilitas Sports, according to a report. Agilitas Sports is a company founded by former Puma India managing director Abhishek Ganguly. Kohli will not only endorse the products of Agilitas Sports but is also expected to have a stake in the company. Agilitas Sports recently received a funding of ₹100 crore from Nexus Venture, indicating its growth in the sports industry.
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Homegrown D2C fashion and lifestyle brand Styched acquires Zymrat
IndianStartupNews
·
1y ago
Medial
Styched, a D2C fashion and lifestyle brand, has acquired Zymrat, a performance-wear brand, in a deal that includes a cash and equity swap. The acquisition allows Styched to expand its offerings and enhance accessibility through production-on-demand technology and competitive pricing. Zymrat will continue to operate as a separate entity under Styched's oversight. The acquisition aims to create a niche in the semi-premium sportswear market, with plans to introduce Zymrat in the UAE and re-introduce Flatheads in India. Zymrat's existing stakeholders will remain involved to ensure continued growth and innovation.
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Virat Kohli Teams Up with Agilitas in a Game-Changing Deal
StartupTalky
·
1m ago
Medial
Indian cricketer Virat Kohli has partnered with sports goods manufacturer Agilitas after his contract with Puma ended. Kohli, investing INR 40 crore initially, will play an active role in Agilitas' growth and decision-making. Agilitas, which aims to be a one-stop sports destination, has already acquired Mochiko Shoes and plans to expand its operations. Kohli’s involvement will likely boost Agilitas’ sales and valuation, while also expanding his own One8 brand internationally.
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Sports apparel maker Technosport raises $25 million in funding from A91 Partners
Economic Times
·
1y ago
Medial
Bengaluru-based sportswear manufacturer Techno Sportswear has raised $25 million from investment fund A91 Partners. The company, which started in 2007 and operates under the brand name Technosport, focuses on producing performance wear for the masses. This is Techno Sportswear's first fundraising round, and the funds will be used to support its expansion efforts. A91 Partners, founded by former Sequoia Capital India partners, specializes in investing in technology, consumer, and financial services companies. Techno Sportswear currently has over 500 employees and produces approximately 12 million garments per year.
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