After PUMA exit, Virat Kohli partners with sportswear start-up Agilitas
What's the story
Indian cricket superstar Virat Kohli has announced a partnership with Agilitas Sports, an Indian sportswear start-up. The announcement comes just days after he was named Player of the Series in India's recent ODI series against South Africa. The batting legend shared the news through a video on social media, marking the beginning of a new chapter in his professional journey.
Brand shift
Kohli's exit from PUMA and new investment
Earlier this year, Kohli had ended his long-standing association with sportswear giant PUMA. He chose to invest in and become a brand ambassador for Agilitas Sports instead. The company was founded by Abhishek Ganguly, former MD of PUMA India and SEA. Kohli's original deal with PUMA was worth ₹110 crore over eight years. The partnership also saw the launch of his lifestyle-athleisure label One8 under the PUMA umbrella.
Equity stake
Kohli's significant investment in Agilitas
Kohli is said to have rejected a lucrative renewal offer from PUMA, reportedly worth around ₹300 crore, to support Agilitas. He has also made a major equity investment in the company. Regulatory filings indicate that his initial investment could be ₹40 crore for a nearly 1.94% stake through compulsorily convertible preference shares (CCPS). This move elevates him from just being an ambassador to co-creator and stakeholder at Agilitas and its brands.
Brand expansion
Agilitas's vision and Kohli's role
Agilitas aims to be a full-lifecycle sportswear company, from manufacturing to retail. Under the new deal, One8 goods will be distributed and expanded under Agilitas's business model. Plans include a new brand identity for One8, new footwear and apparel collections, and wider retail presence. The move is seen as an effort to make One8 a global brand with plans to enter international markets in the coming years.