Agilitas Sports receives license for Italian sports brand Lotto from WHP Global
Saturday, 20 April 2024, 00:34 IST
By SiliconIndia
By SiliconIndia
The sportswear and athleisure solutions platform, Agilitas Sports has recently received the brand license for Italian sports brand Lotto from owner WHP Global. By utilizing this long term license Agilitas will successfully grab the exclusive rights to design, manufacture, promote, and distribute the Lotto brand in India, Australia, and soon in South Africa.
Abhishek Ganguly, co-founder and CEO of Agilitas Sports, said, “Through this 40-year license agreement, we will build and implement state-of-the-art manufacturing, cutting-edge technology, and design innovation for Lotto for its product development, in addition to marketing and retailing of the brand.”
He further added that, Agilitas is planning to allocate resources towards building a specialized management team in order to expand the Lotto brand by focusing on product development, innovative design, efficient supply chain management, branding strategies, marketing initiatives, and distribution channels. Agilitas decided to launch a multi-category offering in footwear, apparel, accessories, and sports equipment by early 2025.
During September 2023,the company has acquired, Mochiko which is a manufacturer of sports footwear for preeminent brands such as Adidas, New Balance, and Reebok. According to the company statement the establishment of a specialized factory by Mochiko in Noida for producing Lotto products confirms Agilitas Sports' shows their dedication to manufacturing made in India products in more volume.
The startup brand Agilitas Sports was founded by former mangaging director of Puma India, Abhishek Ganguly along with his colleagues Atul Bajaj and Amit Prabhu. The company has already raised more than $60 million across two tranches from a fund managed by Convergent Finance LLP and Nexus Venture Partners.
Prior in this month Agilitas Sports has commissioned Richard Zartman as the vice president of footwear design. Being in the notable part of the founding team Richard will lead the group’s portfolio of athletic sportswear brands.
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