Agilitas Sports, a budding sportswear startup, has stepped into the consumer market by acquiring the brand license for the renowned Italian sports brand, Lotto.
The startup has secured exclusive rights to design, manufacture, and distribute the brand in India, South Asia, and Australia under a 40-year-long license agreement.
“Agilitas plans to introduce a diverse range of products in footwear, apparel, accessories, and sports equipment,” stated the startup.
Abhishek Ganguly, cofounder and CEO of Agilitas, announced that the startup will produce Lotto shoes at Mochiko’s Noida factory, which they recently acquired. He anticipates that the shoes will be available for purchase by early 2025.
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“In order to expand the Lotto brand through product development, innovative design, supply chain management, branding, marketing, and distribution channels, Agilitas will invest in a dedicated management team. Our goal is to create a vertically integrated, agile supply chain and product creation cycle that spans from manufacturing to retail. This would allow us to respond swiftly and nimbly to customer insights and the newest trends,” Ganguly said.
The startup has secured rights from Lotto’s parent company, WHP Global. Agilitas also announced plans for substantial investments in manufacturing, design, research and development, supply chain, marketing, and distribution in the coming months.
Agilitas will implement an omnichannel approach, distributing Lotto products through its website, online marketplaces, exclusive brand outlets (EBOs), and various other channels right from the launch’s inception.
Senior vice-president of WHP Global’s sports vertical Margaret Kivett commented on the partnership, saying, “Partnering with Agilitas Sports marks an exciting chapter for Lotto.” We are excited to work with their vibrant team to strengthen Lotto’s position in important international markets, especially in football & racket sports hotspots like Australia and India.
Ganguly stated that Agilitas intends to capitalize on factors including Lotto’s brand recognition, diverse distribution channels, high-quality products, customer experience, and the startup’s vertically integrated manufacturing setup to carve out a distinct position in the Indian sportswear market.
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He mentioned that the startup intends to unveil additional brand acquisitions in the coming months, with plans to introduce new brands throughout 2025 as well.
Established in 2023 by former Puma India executives Ganguly, Atul Bajaj, and Amit Prabhu, Agilitas operates within India’s burgeoning sportswear sector. Its goal is to operate as a comprehensive footwear company, overseeing the entire process from design to retail.
Since May last year, it has raised INR 530 crore in funding from investors such as Convergent Finance and Nexus Venture Partners. Although it has not yet entered the consumer market, the sportswear company made strides in the B2B sector last year with the acquisition of India’s largest sports footwear manufacturer, Mochiko Shoes, for an undisclosed sum.
Mochiko produces footwear for various brands including Adidas, Puma, New Balance, Skechers, Reebok, Asics, Crocs, Decathlon, Clarks, and US Polo in India.
Regarding the acquisition, Ganguly mentioned that Mochiko is expected to reach a turnover of INR 1,000 crore by the financial year 2024-25 (FY25) based on current order book projections. He anticipates this figure to double over the next four years.
Discussing the consumer aspect of the business, the CEO of Agilitas expressed the startup’s intention to establish three to four brands under its umbrella through long-term partnerships or acquisitions. However, he clarified that Agilitas would refrain from creating a brand from scratch at this stage.
“This year, we are strengthening the retail identity, the marketing proposition, and the product on the front of consumer brand. Additionally, it takes time since we have to start from zero when designing and producing the products, coming up with layouts for retail stores, and developing the app and online store,” Ganguly added.
Central to Agilitas’ extensive expansion strategy is the burgeoning Indian footwear and athleisure wear market, driven by increasing disposable incomes and a burgeoning middle class. According to a report, the indigenous footwear sector is anticipated to grow to a market worth INR 1.91 Lakh Cr by FY28.
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