It’s official bar the formal announcement! Virat Kohli has joined Indian athleisure firm Agilitas Sports as an investor and co-creator, and the company reportedly plans to go global riding on the popularity of the Indian cricket superstar.
Kohli, who recently ended his eight-year relationship with Puma as brand ambassador that was valued at Rs 110 crore, declined an “upgraded” Rs 300 crore offer from the German sportswear giant to extend his contract for another eight years, PTI quotes sources aware of the developments as having said.
For the record, Agilitas Sports, was set up in mid-2023 by then Puma India MD Abhishek Ganguly, along with co-founders Atul Bajaj and Amit Prabhu (both also top tier Puma India alum) with a seed funding war chest of Rs 470 crore.
Per PTI, a formal announcement is expected in the next three months. Agilitas, meanwhile, is currently working with Kohli to scale One8, the premium athleisure brand he owns, and which has now expanded to include a chain of restaurants called One8 Commune and a collaboration with PUMA for sneakers, as an independent global brand.
One8 was registered by Kohli in 2016 and post its collaboration with Puma under ‘Puma One8’ had reportedly cornered a business worth around Rs 250 crore.
By the looks of it, Kohli is following a template successfully implemented by Roger Federer vis-a-vis his stake in Swiss athletic apparel company On, where the global tennis icon is its brand ambassador and co-creator.
Kohli and Agilitas’ shared vision is for One8 to become India’s first aspirational brand to go global with its footwear and sportswear.
Puma also confirmed the developments of Kohli’s departure, with a spokesperson in a statement to media houses wishing Kohli the best for his future endeavours. “It was a wonderful association with him spanning several years, many outstanding campaigns and path-breaking product collaborations,” the statement read.
As for Agilitas, in 2023, it announced the acquisition of sports footwear manufacturer Mochiko Shoes, India’s largest sports footwear manufacturer for the domestic market, for an undisclosed amount.
In its first year, Agilitas raised Rs 600 crore through Convergent Finance, Nexus Venture Partners and another Rs 30 crore from individual investors.
