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livemint.com / 5 months ago
livemint.com / 5 months ago
Virat Kohli invests ₹40 crore in Agilitas Sports for minority stake, integrates One8
Subscribe to enjoy similar stories. New Delhi: Cricketer Virat Kohli has invested ₹40 crore to pick up a minority stake in Agilitas Sports, joining the company as an investor and business partner. As part of the deal, Agilitas has acquired One8, the cricketer’s sportswear brand.
The move follows the end of Kohli’s eight-year contract worth about ₹110 crore with German sportswear giant Puma. Mint reported about the Agilitas association in April. Agilitas Sports is a sportswear and athleisure company founded by former Puma India and South-East Asia managing director Abhishek Ganguly.
One8 was started by Kohli in 2017 with sportswear brand Puma, selling athleisure, performance wear, footwear and accessories largely via online marketplaces. One8 will now sit within Agilitas as an independent global sportswear brand. “It will become an independent global sportswear brand and will compete with the best of the sportswear brands in the global markets.
It will not just be distributed in India, but across the world," Ganguly said in an interview with Mint on Monday. Ganguly said the domestic market is undergoing a shift on account of greater interest in fitness and wellness products. “The category is growing.
People are changing their habits. People are wearing sneakers and athletic wear into meetings and offices. India is more accepting towards out-of-pitch use of sportswear," he said.
Agilitas plans to launch One8 early next year with a multi-channel strategy in India, positioning it at a slight premium. Distribution will begin through a web store, app and online marketplaces. Exclusive brand stores will come up in India by the middle of next year, followed by expansion into overseas markets such as the US, the UK and Australia
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