Abhishek Ganguly’s Agilitas Sports acquires footwear maker Mochiko Shoes
₹400 crore in May via multiple funds of Convergent Finance LLP, an investment management company led by Harsha Raghavan, besides ₹30 crore from individual investors, Agilitas said. Its founding team comprises Ganguly, who quit Puma India in August, Atul Bajaj, Puma India’s former executive director for sales and operations, and Amit Prabhu, former chief financial officer, Puma India.
“This acquisition augments Agilitas’ value proposition, by strengthening our supply chain in the rapidly growing sports footwear market. Mochiko’s manufacturing capabilities, operational excellence and strategic partnerships with leading global giants, positions us to address the Government’s clarion call to ‘Make in India’, and to cater to the rising aspirations of an economic superpower, with the largest youth population", said Abhishek Ganguly, CEO & Co-Founder, Agilitas Sports.
Mochiko Shoes works with large international sports brands including didas, Puma, New Balance, Skechers, Reebok, Asics, Crocs, Decathlon, Clarks, US Polo. Established in 2008, by Virender Awal and a co-founding team of five members, Mochiko Shoes registered a revenue of ₹642 crore in FY2023.
Agilitas Sports will retain the entire team of Mochiko following the acquisition. With fully integrated, end-to-end manufacturing capabilities, Mochiko is the first sports footwear manufacturer in India to receive BIS licence, and is fully compliant to the soon-to-be-implemented Quality Control Orders (QCOs), by the Government of India.
In July, India mandated BIS Licence for the manufacturing, importing or selling of footwear in the country in a bid to promote make in India products. The company has manufacturing units in Dehradun and Rishikesh (Uttarakhand) as well as in
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