Kohli’s Agilitas stake rises to 6.4% after One8 merger, brand eyes Rs 3,000 cr

Bengaluru: Indian cricketer Virat Kohli’s stake in sportswear company Agilitas Sports has increased to 6.4% from 1.8% following the National Company Law Tribunal’s (NCLT) approval of the merger of his sportswear brand One8 with Agilitas.Kohli invested Rs 40 crore in Agilitas last year. Under the merger, One8 Sports has been integrated into Agilitas as a wholly owned subsidiary, with Kohli’s shareholding moving to the parent company. The integration is aimed at fast-tracking Agilitas’ ambition of building a high-performance sportswear label from India.Kohli will continue as co-founder of One8 and remain involved in building the brand, which plans to expand into international markets, including the US, UK, Canada and Australia.The merger gives One8 access to Agilitas’ capabilities in product development, design, research and development, manufacturing and retail. The integration is expected to help the brand enter new sporting categories and markets.Agilitas Sports, co-founded by former Puma India managing director Abhishek Ganguly, told TOI that One8 would be able to leverage the group’s product development and retail capabilities.“The synergies are significant. One8 wants to become a global sportswear brand from India, and that ambition is very strong. One8 will now have full access to Agilitas’ manufacturing, design, product development and R&D capabilities, as well as its brand-building and retail capabilities. We will soon open exclusive brand outlets (EBOs) under the One8 brand,” Ganguly said.Agilitas aims to build One8 into a Rs 2,000-3,000 crore business over the next four to six years. It also plans to enter more international markets, either directly or through distribution partners.“The opportunity to realise a dream of mine in terms of building a sports brand while I was still playing was something I always wanted. I’ve been involved in literally everything from day one, from technology and materials to designing. This is a vision that I feel very strongly about. The aspiration is for the brand to outlast all of us, become a part of people’s lifestyle and ultimately stand on its own,” Kohli said.Agilitas’ portfolio includes One8 and Lotto, along with Mochiko Shoes, its sports footwear manufacturing business, and Sports Yard, its multi-brand retail format.Mochiko manufactures products for brands including Adidas, Puma, New Balance, Skechers, Reebok, Asics, Crocs, Decathlon, Clarks and US Polo. Ganguly said the company’s recent brand launches were gaining traction, with Lotto already generating over Rs 100 crore in its first year in India.Agilitas plans to open 10 Sports Yard stores over the next six months and will soon launch a third brand, Ganguly said. The company also plans to raise equity capital through a private round in the coming months to fund expansion across retail, manufacturing and brand-building.Global examples include China’s Anta, valued at around $28 billion, and Hoka, which has grown significantly over the past decade. Dick’s Sporting Goods, JD Sports and Sports Direct have also expanded, with Dick’s acquiring Foot Locker.“We want Agilitas to become a major global company built out of India. Our ambition goes beyond the domestic market. India should not just import and buy foreign brands; we should build strong homegrown brands and take them to markets around the world. It is an audacious ambition, but our goal is to build a significant global sportswear company from India,” Ganguly said.You use AI every day. Now get your AI Quotient. Take the AIQ test.