Agilitas Sports

The company's strategy was initiated with the acquisition of Mochiko Shoes, India's largest sports footwear manufacturer, in September 2023 for an undisclosed all-cash sum. This acquisition provides Agilitas with significant manufacturing capabilities, serving major international brands like Adidas, Puma, New Balance, and Skechers, and aligns with the Indian government's 'Make in India' initiative. Mochiko's facilities in Uttarakhand and Noida are BIS-approved, positioning Agilitas to capitalize on the growing demand for locally manufactured sports goods.

Agilitas Sports operates on a multi-pronged business model. It serves as a contract manufacturer for global brands through its subsidiary Mochiko, plans to launch its own portfolio of consumer-facing brands catering to the aspirational yet affordable market segment, and will partner with international brands for manufacturing and retail in India. The company has already secured the exclusive license for the Italian sports brand Lotto in India. This strategy allows Agilitas to generate B2B revenue while building its own B2C presence.

The venture is substantially backed by investors, having raised over ₹600 crore. Major funding rounds include ₹400 crore from Convergent Finance, ₹100 crore from Nexus Venture Partners, and an additional ₹40 crore from Indian cricketer Virat Kohli, who has joined as an investor and brand collaborator. This influx of capital is intended to scale up R&D, manufacturing, and retail operations. With the Mochiko acquisition, Agilitas reported revenues of ₹642 crore in FY2023 and was on track for nearly ₹800 crore in the following year.