Under the partnership struck with Lotto parent WHP Global, Bengaluru-based Agilitas will handle the manufacturing, design and sale of Lotto products across India, South Asia and Australia.
“The 40-year licence timeline shows the commitment and the long-term plan we have for Lotto here,” said Abhishek Ganguly, the former Puma India head who cofounded Agilitas. “We are going to be across channels, including our own web store. We are looking at offering good value for a premium brand like Lotto and that does not mean it has to be expensive. What customers look for is value for what they are spending.”
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Ganguly said the launch of operations under the partnership is slated for early 2025, alongside the establishment of company-owned and franchised exclusive business outlets of Lotto.
Indian shoemaker Mochiko, which Nexus Venture Partners-backed Agilitas had acquired in September 2023, will make Lotto’s shoes for India and localise new designs, Ganguly said.
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Ganguly said he plans to open some 200 stores and is targeting a business of Rs 2,000 crore from the Indian market in the medium term.“Agilitas will invest in a dedicated management team to grow the Lotto brand through product creation, design innovation, supply chain, branding, marketing and channels of distribution,” said Ganguly.
Stanley Silverstein, chief commercial officer, WHP Global, said, “We are impressed by the expertise of the company’s founders in the sportswear and athleisure market, along with the comprehensive business model they have crafted at Agilitas. Their dedicated focus on the sportswear industry, and a profound belief in India’s promising future as well as other markets is in line with our core mission of growing the Lotto brand globally.”
ET had reported in May last year about Ganguly and two other top executives at Puma India leaving the German firm to start Agilitas. Subsequently, Agilitas raised Rs 430 crore from Convergent Finance.
In terms of marketing strategy, Agilitas is focusing on consumer engagement investments and intends to forge partnerships with athletes, sports clubs, designers, artists and musicians.
Mochiko has a factory in Noida to manufacture Lotto products, including footwear, apparel, accessories and sports equipment. Footwear stands out as the primary category, contributing more than 60% to the product lineup.
