Virat Kohli to partner with Agilitas as Puma deal ends

Star cricketer Virat Kohli is set to join sports athleisure firm Agilitas as an investor, multiple people aware of the matter said, with his eight-year contract worth around ₹110 crore with German sportswear giant Puma coming to an end. An announcement in this respect is likely during the ongoing Indian Premier League (IPL).

Agilitas was founded in 2023 by former Puma India and South-East Asia managing director Abhishek Ganguly. The company makes and retails sportswear goods in India and abroad. Last year, Agilitas acquired long-term licence rights for sports brand Lotto in India, Australia, and South Africa.

Virat Kohli to be Agilitas brand ambassador

At the heart of Kohli's switch to Agilitas is his ambition to grow One8, his lifestyle brand launched in 2017. Agilitas will distribute and scale the One8 brand by opening more stores and expanding abroad leveraging the cricketer’s popularity.

“The brand will be a significant part of Agilitas’s growth story,” one of the people cited above said. “It's all about turning One8 into a global brand—footwear, sportswear. India does not have an aspirational sportswear brand. There will be a new brand identity and relaunch for One8.”

Also read |  Virat Kohli removes all advertisements from his Instagram timeline. Know why

A Puma India spokesperson confirmed Kohli’s departure, wishing him "the best for his future endeavours". The brand said it was a wonderful association with him spanning over several years, many outstanding campaigns, and path-breaking product collaborations. "As a sports brand, Puma will continue to actively invest in the next generation of athletes and aggressively build the future of the sporting ecosystem in India.”

Since his deal ended, Kohli has scrubbed his social media of most Puma-related posts. Agilitas did not respond to Mint’s emailed queries. Kohli did not respond to text messages.

“Puma went back to Kohli with an offer to retain the cricketer, but he wants to build a global company from India,” the person cited earlier said.

Building for India

There were several media reports last year that Kohli was set to terminate his contract with Puma. At the time, Puma had denied these reports, and Kohli continued his association with the company during the last year of his contract.

However, since India’s successful Champions Trophy campaign, Kohli has been seen sporting shoes that do not bear Puma’s trademark “formstrip”, which resembles three lanes from athletic tracks. Instead, Kohli’s on-field shoes now bear a placeholder logo with interconnected triangles.

Also read | Virat Kohli channels his inner John Cena - ‘You can’t see him anywhere'

In global sports, it's typical for athletes to wear unbranded or so-called generic shoes during matches or appearances between contracts. This helps them avoid conflicts with current or future sponsors and maintain neutrality while negotiating deals.

In 2021, Puma signed a long-term strategic partnership with Royal Challengers Bengaluru (RCB), the franchise Kohli has represented since the league’s inaugural edition. A year later, Puma signed Bollywood actor and Kohli’s wife Anushka Sharma as a brand ambassador.

A common figure in all these deals is Ganguly, who formed Agilitas along with Atul Bajaj and Amit Prabhu, two former Puma India executives.

Ambitious startup

Soon after its inception, Agilitas raised ₹430 crore in a funding round led by Convergent Finance. The company acquired Mochiko, a Gurugram-based sports shoe manufacturer with a global clientele that includes Adidas, Puma, New Balance, Skechers and Asics.

In December 2023, Agilitas raised another ₹100 crore from Nexus Venture Partners. Last year, Agilitas Sports it acquired long-term licence rights to design, manufacture, and retail Italian sports brand Lotto in India, Australia, and South Africa from WHP Global. The company may add more such brands to its portfolio.

Agilitas also counts former Indian cricketer Yuvraj Singh among its investors. Singh forged a close relationship with Ganguly during his playing days when Puma hired him as a brand ambassador.

Also read |  Bollywood and beyond: Indian celebrities cash in on 2023's brand boom