New Delhi: Agilitas Sports, a sportswear and athleisure options platform, co-founded by Puma India and South-East Asia’s former managing director Abhishek Ganguly, has acquired sports activities footwear producer Mochiko Shoes Pvt Ltd., a producer of sports activities footwear for manufacturers corresponding to Adidas, New Balance, and Reekok, paving the way in which Agilitas to construct a higher play within the sports activities manufacturing ecosystem within the nation.

The transfer comes after Agilitas raised ₹400 crore in May by way of a number of funds of Convergent Finance LLP, an funding administration firm led by Harsha Raghavan, apart from ₹30 crore from particular person traders, Agilitas stated. Its founding group includes Ganguly, who give up Puma India in August, Atul Bajaj, Puma India’s former govt director for gross sales and operations, and Amit Prabhu, former chief monetary officer, Puma India.

“This acquisition augments Agilitas’ worth proposition, by strengthening our provide chain within the quickly rising sports activities footwear market. Mochiko’s manufacturing capabilities, operational excellence and strategic partnerships with main international giants, positions us to deal with the Government’s clarion name to ‘Make in India’, and to cater to the rising aspirations of an financial superpower, with the biggest youth inhabitants”, stated Abhishek Ganguly, CEO & Co-Founder, Agilitas Sports.

Mochiko Shoes works with massive worldwide sports activities manufacturers together with didas, Puma, New Balance, Skechers, Reebok, Asics, Crocs, Decathlon, Clarks, US Polo. Established in 2008, by Virender Awal and a co-founding group of 5 members, Mochiko Shoes registered a income of ₹642 crore in FY2023. Agilitas Sports will retain your entire group of Mochiko following the acquisition.

With absolutely built-in, end-to-end manufacturing capabilities, Mochiko is the primary sports activities footwear producer in India to obtain BIS licence, and is absolutely compliant to the soon-to-be-implemented Quality Control Orders (QCOs), by the Government of India. In July, India mandated BIS Licence for the manufacturing, importing or promoting of footwear within the nation in a bid to advertise make in India merchandise.

The firm has manufacturing models in Dehradun and Rishikesh (Uttarakhand) in addition to in Noida. Mochiko employs almost 10,000 folks, throughout the size and breadth of its operations.

“Joining the Agilitas household propels our ambitions. We are actually poised to reinforce long-term investments, addressing the hovering demand within the Sports and Athleisure footwear sector. We envision multi-fold and multifaceted development in our enterprise over the following 5-6 years, including jobs and livelihood,” Virender Awal, Founder & CEO, Mochiko Shoes Pvt. Ltd.