Not just brand ambassador, Virat Kohli invests Rs 400000000 to become co-owner of THIS company
Cricketer Virat Kohli has invested Rs 40 crore rupees in manufacture of sports goods company Agilitas. Besides becoming one of the major investors, Kohli is to be the brand ambassador of the company. It was established by Abhishek Ganguly, a former Managing Director of Puma India, and has drawn investment by former cricketer Yuvraj Singh as well.
Kohli has emerged as an active partner at Agilitas and he is likely to continue investing in future. His affiliation would drive sales, brand value, and market worth of the company, and could potentially enhance the price of his share as well. However, Kohli and Agilitas have not made any official statement over the investment yet.
Under the investment arrangement, Kohli has been given about 3.6 lakh Class 2 Compulsorily Convertible Preference Shares (CCPS) that will turn over time into equity shares. Reports add that this is merely the initial installment of Kohli contribution, and capital will still be contributed in the following phase.
Agilitas intends to establish an integrated full-scale sports chain involving manufacturing to selling. Acquisitions are another strategy the company follows, eyeing the possibilities to acquire a business capable of offering services which are not offered by Agilitas. This vision makes the company one of the leaders of the future in sportswear and sporting goods market.
In 2017, Kohli signed a highly profitable 110-crores eight-years endorsement contract with Puma. The deal was arranged by Abhishek Ganguly alone. But Kohli decided not to renew the contract before it expires in 2025 and has signed up with Ganguly Agilitas, a new business.
Agilitas bought Mochiko Shoes, a corporate shoemaker of global brands, such as Adidas, Puma, Skechers, and Reebok, in 2023. It has obtained licensing rights of Lotto brand in India and at some international markets as well. The firm will introduce three new brands and one of the brands will be a personal brand of Virat Kohli, One8. This is as Kohli keeps expanding his portfolio investing in more than 10 startups such as Digit Insurance, MPL, and Wrogn.
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