One8 Brand Acquisition by Agilitas Sports

Virat Kohli has made a significant move by selling his sports and lifestyle brand One8 to Agilitas Sports, a company specialised in footwear and apparel. As part of this deal, Kohli will invest Rs 40 crore into Agilitas. This collaboration sees Kohli stepping in as both an investor and co-founder of One8. In addition, he is investing Rs 40 crore personally to secure a minority interest in Agilitas Sports, although the specific size of the stake from this investment remains undisclosed.

In June, Startup Superb reported that Kohli took a 1.49% stake in the company with his investment, during a funding round that also included Indian cricketer Abhishek Sharma as an investor at that time.

Overview of One8 Brand

Kohli introduced One8 as an internet-centric lifestyle brand that provides a range of sportswear in collaboration with Puma, including apparel, accessories, innerwear, and fragrances. The brand later diversified into the restaurant sector with the creation of one8 Commune, which emphasises communal dining experiences.

Agilitas Sports Background

Agilitas Sports was established in 2023 by Abhishek Ganguly, the former managing director of Puma India and Southeast Asia. The firm is expanding across the realms of sports footwear, apparel, and accessories while pursuing strategic acquisitions. It had previously acquired Mochiko Shoes to enhance its manufacturing capabilities.

Ganguly has a close working relationship with Kohli, having signed him with Puma in 2017 under a deal valued at approximately Rs 110 crore, during which the One8 athleisure brand was launched. In April, Kohli ended his association with Puma after refusing a renewal offer of Rs 300 crore for an additional eight years, choosing instead to invest in Agilitas.

Funding Developments at Agilitas

On the funding front, Agilitas Sports is in advanced negotiations to secure around Rs 450 crore from existing investor Nexus Venture Partners. To date, Agilitas has successfully raised over Rs 600 crore from investors such as Spring Marketing Capital, SMLINE Ventures, and Infinity Direct Holding.