As the head of Puma in South Asia, Abhishek Ganguly for years had maintained that there is no reason why there cannot be a homegrown Indian athleisure brand with $1 billion in sales in the years to come. Last year, Ganguly quit Puma after almost 18 years with the company to strike out on his own. Ganguly is now taking a stab at that goal with his independent venture Agilitas Sports.
"In 7-8-9 (years)," Ganguly said when asked about when Agilitas could clock a billion dollars in sales. "I would not shoot myself if it takes 10 (years)," he added.
"Having a billion-dollar revenue Indian sports company, I think that there is the opportunity that lies... I can tell you that (we are) creating Agilitas as India's largest sports platform, which is also globally relevant at some point in time, but of course focused on India to begin with," he explained. Some investors are voting with their wallets to Ganguly's optimism. So far, Agilitas has raised ₹530 crores from investors in two rounds of funding, including ₹400 crore from Convergent Finance LLP funds, ₹100 crore from Nexus Partners Ventures and another ₹30 crore from family, friends and the founders.
In September 2023, Agilitas fired the first salvo by acquiring Dehradun-based Mochiko, India's largest manufacturer of sports shoes, for an undisclosed amount in an all-cash deal that was funded from the money the newbie had raised in 2023 from investors. Mochiko-that contract manufactures footwear for global brands including Puma, Adidas, Reebok, New Balance, Skechers, Asics, Crocs, Decathlon, Clarks and US Polo among others-gave Agilitas a head-start: The 15-yearold company has factories in Uttarakhand and Noida, outside of New Delhi and employs more than 10,000 people.
Denne historien er fra March 2024-utgaven av Images Retail.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra March 2024-utgaven av Images Retail.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Building the Midmanagement is Critical in a Scaling Organisation
Nirav Jagad, Chief People Officer of Sugar Cosmetics speaks about ensuring the right! opportunities for the right talent in a complex omnichannel organisation that is on a fast track to growth
Uppercase Upping the Ante
Travel gear brand Uppercase is upgrading the standard of luggage in India through innovative approach and prodcuts and sustainable practices
The Strategy is to Go City by City and Saturate Each
Gerard McGurk, Head of Retail and Commercial Operations at Index Living Mall and Mahesh M, CEO, Creaticity speak about Thailand's numero uno furniture brand's strengths, its India entry and strategy
Design and Experience Differentiate Indriya from Competitors
Sandeep Kohli, CEO of Aditya Birla Jewellery’s Indriya about the brand’s strengths, strategies and aspirations
At Good Glamm, AI Chatbots Have Slashed Workload by 70-80%
Deep Ganatra, Chief Product & Technology Officer (CPTO), The Good Glamm Group sheds light on the role of technology in the beauty and wellness industry and its impact on personalisation
How Blinkit, Swiggy Instamart, Zepto and Others are Redefining Shopping
A quick snapshot of India’s quick commerce landscape highlighting key players, challenges and opportunities
Electronics and Q-commerce: A Marriage of Convenience
Why more and more electronics and gadget brands are taking to q-commerce
5 ways D2C Brands Can Leverage the Power of Technology
The direct-to-consumer (D2C) market in India is at an exciting juncture, with brands redefining how they operate, innovate, and engage with consumers. But what does the future look like for these brands as they adopt technology?
The Business of Offering Immersive Experiences
Shopping centers are using immersive experiences to attract more shoppers and boost business
5 ways D2C Brands Can Maintain the Growth Momentum
D2C brands should embrace a customer-first mindset, leverage technology, and know when to expand offline to keep the growth momentum going
