Agilitas Sports, a sportswear and athleisure solutions platform, has acquired the brand license for Italian sports brand Lotto from owner WHP Global.
Agilitas has the exclusive rights to design, manufacture, promote, and distribute the Lotto brand in India, Australia, and soon in South Africa.
“Through this 40-year license agreement, we will build and implement state-of-the-art manufacturing, cutting-edge technology, and design innovation for Lotto for its product development, in addition to marketing and retailing of the brand,” said Abhishek Ganguly, Co-founder and CEO of Agilitas Sports.
Further Agilitas will invest in a dedicated management team to grow the Lotto brand through product creation, design innovation, supply chain, branding, marketing, and channels of distribution.
With an aim to launch by early 2025, Agilitas plans a multi-category offering in footwear, apparel, accessories, and sports equipment.
Acquisitions:
Mochiko, a manufacturer of sports footwear for brands such as Adidas, New Balance, and Reebok was acquired. Mochiko’s establishment of a dedicated factory in Noida to manufacture Lotto validates Agilitas Sports’ commitment to manufacturing in India.
Founded by former Puma India managing director Ganguly along with his colleagues Atul Bajaj and Amit Prabhu, Agilitas Sports has already raised more than $60 million across two rounds from a fund managed by Convergent Finance LLP and Nexus Venture Partners.
Earlier this month, Agilitas Sports appointed Richard Zartman as the vice president of footwear design. As part of the founding team, Richard will lead the group’s portfolio of athletic sportswear brands.
