Agilitas Sports, founded by Abhishek Ganguly, the former managing director of Puma India and South-East Asia, has acquired the manufacturing and distribution rights of Italian sportswear brand Lotto from US-based owner WHP Global. The deal, which will run for 40 years, will cover the markets of India and Australia, while South Africa will be added shortly, Ganguly said in a conversation with FE.
The Lotto licensing deal marks the first of a few more such tie-ups that Agilitas will announce in the future, Ganguly said. These tie-ups, he says, are part of a bouquet of business-to-consumer (B2C) brands that the company, which raised Rs 530 crore in two rounds, proposes to have under its fold, as it looks to build a robust sports firm spanning contract manufacturing (at the back end) and marketing and distribution of brands at the front end.
“Through this 40-year license agreement, we will build and implement state-of-the-art manufacturing, cutting-edge technology and design innovation for Lotto, in addition to marketing and retailing of the brand,” Ganguly said.
In September last year, Agilitas had acquired Dehradun-based Mochiko, India’s largest manufacturer of sports shoes, for an undisclosed amount, giving it a foothold in the business-to-business (B2B) space.
Mochiko, which has factories in Uttarakhand and Noida, produces shoes for popular brands such as Puma, Adidas, Reebok, New Balance, Skechers, Asics, Crocs, Decathlon, Clarks and US Polo among others.
It closed FY23 with sales of Rs 642 crore and may close FY24 with sales of around Rs 800 crore, a year-on-year growth of nearly 25%, industry sources said.
Lotto, Ganguly says, will be relaunched in India by early 2025, using both online and offline channels for distribution and marketing. Price points are likely to be affordable, keeping in mind the large addressable sportswear market in the country, he says.
“The plan for Lotto is to have a multi-category offering in footwear, apparel, accessories and sports equipment. Mochiko will establish a dedicated factory in Noida to manufacture Lotto, which validates our commitment to manufacturing in India,” Ganguly added.