Agilitas Sports Acquires 40-Year License for Italian Brand Lotto

Agilitas Sports, a sportswear and athleisure solutions platform founded by former Puma executives, has acquired the exclusive 40-year brand license for the Italian sports brand Lotto from owner WHP Global. The deal grants Agilitas the rights to design, manufacture, promote, and distribute Lotto products in India, Australia, and soon in South Africa.

Lotto will re-enter the Indian market through this partnership, with Agilitas planning to sell Lotto products through online channels, standalone brand outlets, and shop-in-shops with retail partners. The company aims to launch a multi-category offering in footwear, apparel, accessories, and sports equipment under the Lotto brand by early 2025.

Agilitas will invest in a dedicated management team to grow the Lotto brand through product creation, design innovation, supply chain, branding, marketing, and distribution channels. The company has set up a dedicated factory in Noida through its recent acquisition of sports footwear manufacturer Mochiko, validating its commitment to manufacturing in India.

Why this matters: The acquisition comes at a time when India's sports apparel market is expected to grow from $14 billion in 2020 to $21 billion by 2023, and the overall sports sector in India is set to nearly quadruple to $100 billion by 2027. Agilitas' move signals the growing attractiveness of the Indian market for international sports brands.

Agilitas Sports has raised more than $60 million across two rounds from Convergent Finance LLP and Nexus Venture Partners to fund its expansion plans. "We aim to build an agile product creation cycle and a vertically integrated supply chain, enabling us to react quickly to consumer insights and trends," said Abhishek Ganguly, Managing Director of Agilitas Sports.

The partnership marks an exciting chapter for Lotto as it aims to amplify its presence in key global markets like India and Australia. Agilitas plans to add more brands to its portfolio in the coming year, with the goal of building a portfolio of 2-3 brands across different price segments to cater to a wide range of consumers in the rapidly growing sports and athleisure market.

Key Takeaways

• Agilitas Sports acquires 40-year exclusive license for Italian brand Lotto in India, Australia, and South Africa.
• Lotto to re-enter Indian market through Agilitas, selling across online, standalone, and retail partner channels.
• Agilitas to invest in dedicated team and manufacturing facility in Noida to grow Lotto brand in India.
• India's sports apparel market to grow from $14B in 2020 to $21B by 2023, attracting global brands.
• Agilitas plans to add more brands to its portfolio to cater to the growing sports and athleisure market.