Virat Kohli invests ₹40 crore in Agilitas Sports, ends Puma deal
What's the deal? Cricketer Virat KohliDealroom has a profile for this one. Try Dealroom → has invested ₹40 crore of his own money in Indian sportswear startup Agilitas Sports, taking a 1.94% stake.
The move came after he declined to renew an estimated ₹300 crore, eight-year endorsement contract with global giant PumaDealroom has a profile for this one. Try Dealroom →.
Founded in 2023 by former Puma India managing director Abhishek Ganguly, Agilitas was valued at roughly ₹2,058 crore after its latest funding round, backed by Convergent FinanceDealroom has a profile for this one. Try Dealroom →, Nexus Venture Partners, and Rainmatter.
Why now? Kohli is shifting from brand endorsement to equity ownership, tying his earnings to the company's long-term growth rather than a fixed fee.
It reflects a wider trend: celebrities increasingly want a deeper stake in the businesses they back, not just a paycheck for lending their name.
The timing also suits Agilitas. It is pursuing vertical integration, building full manufacturing capabilities rather than outsourcing production like many design-led rivals.
That strategy is anchored by its acquisition of Mochiko Shoes, an Indian footwear maker that has produced for AdidasDealroom has a profile for this one. Try Dealroom →, Reebok, and Skechers. Controlling factories in Noida and Uttarakhand should improve margins and operational control.
The move fits India's push to boost domestic manufacturing and tighten footwear import rules.
What could go wrong? Owning production can lift margins at scale, but it brings high capital requirements and operational risk.
India's manufacturing sector is competitive, with pressure from local and international players. Agilitas must keep costs efficient while ramping output for its One8 brand and other clients.
The premium footwear market is also sensitive to consumer trends, demanding constant product innovation.
Agilitas targets ₹1,350 crore in revenue for the 2026 financial year. Mochiko alone posted ₹642 crore in the 2023 financial year, so hitting that goal means widening distribution and integrating manufacturing with the One8 brand.
The signal: Kohli's move as an angel investor marks a maturing of celebrity capital in India, where star power flows into equity rather than billboards. It also bets on a breakout-stage player whose asset-heavy, vertically integrated model — backed by funds like Convergent Finance and Nexus Venture Partners — directly challenges the asset-light playbook that dominates global sportswear.
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Image credit: AI-generated image (Gemini)
