NCLT approval of the merger brings Kohli’s sportswear venture one8 into Agilitas Sports, giving the brand access to product development, manufacturing and retail capabilities to support its domestic and global expansion plans
Virat Kohli’s stake in Agilitas Sports has increased to 6.4 per cent from 1.8 per cent following the National Company Law Tribunal’s approval of the merger of his sportswear venture one8 with the company, Agilitas said on Thursday.
The merger of One8 Sports Private Limited with Agilitas Sports Private Limited was approved by the NCLT’s Mumbai Bench, bringing one8 into Agilitas’ broader sportswear business.
Kohli, who had previously invested Rs 40 crore in Agilitas, will continue as one8’s co-founder and remain involved in the brand’s development, the company said in a statement.
The integration is expected to give one8 access to Agilitas’ capabilities in product development, design, research and development, manufacturing and retail, as the brand seeks to expand its presence in India and overseas.
One8 plans to enter additional sporting categories and strengthen its presence in markets such as the US, the UK, Canada and Australia, with the aim of building a global sportswear brand originating in India.
Kohli said he had wanted to build a sports brand while still playing professionally and had been involved in the venture from its inception, including decisions related to technology, materials and design.
“The aspiration is for the brand to outlast all of us, become a part of people’s lifestyle and ultimately stand on its own,” Kohli said.
Agilitas Co-founder and CEO Abhishek Ganguly said the integration would provide one8 with the operational capabilities needed to develop products and expand its reach.
Building a global sportswear business requires more than brand recognition and distribution, Ganguly said, adding that product development and execution would be central to one8’s long-term ambitions.
Agilitas is building an integrated sportswear business spanning product development, manufacturing, brand building, distribution and retail. Its portfolio includes one8 and Lotto, as well as Mochiko Shoes, its sports footwear manufacturing business, and retail initiatives such as Sports Yard.
