Agilitas Sports, a popular sportswear and athleisure solutions company, is learnt to have acquired the brand licence for Lotto, an Italian sports brand, from WHP Global, the company that owns the brand.
The long-term licence lets Agilitas gain exclusive rights for designing, manufacturing, promoting and distributing the Lotto brand in India, Australia and South Africa (very soon).
Abhishek Ganguly, Co-founder and CEO, Agilitas Sports, stated that the company will build and implement state-of-the-art manufacturing using cutting-edge technology and innovative designs for product development besides marketing and retailing Lotto through the 40-year licence agreement.
Abhishek further emphasised that Agilitas will grow Lotto via design innovation, product creation, branding, marketing, supply chain, and distribution channels.
Agilitas Sports, with a plan to launch Lotto by early 2025, contemplates introducing a multi-category offering across apparel, footwear, sports equipment and accessories.
Agilitas Sports acquired Mochiko, which manufactures sports footwear for brands such as Reebok, New Balance and Adidas, in September 2023. Agilitas reckons Mochiko's Noida-based manufacturing facility for Lotto complements Agilitas' manufacturing ambitions in India.
Agilitas Sports, founded by Ganguly, Amit Prabhu and Atul Bajaj, has already mopped up over $60 million across two funding rounds from Nexus Venture Partners and Convergent Finance LLP, according to startup industry news.
Agilitas Sports, earlier in April 2024, made Richard Zartman the Vice President of Footwear Design. Richard will spearhead the group's athletic sportswear brands.
What Does YFS Have to Say on Agilitas Sports Acquiring Licence for Lotto?
The acquisition of brand licence for Lotto will likely help Agilitas Sports become a prominent player in sportswear manufacturing in India. Things remain solid for Agilitas Sports, which has already procured funding worth over $60 million from backers, reckons Your First Startup (YFS).