Virat Kohli-Backed Agilitas Enters Talks to Acquire Yuvraj Singh-Backed Sports365

Virat Kohli-Backed Agilitas Enters Talks to Acquire Yuvraj Singh-Backed Sports365

Virat Kohli-backed sporting-goods platform Agilitas is in advanced discussions to acquire Sports365, one of India's early specialist sports e-commerce and retail businesses, as it accelerates efforts to build an integrated sportswear, equipment and retail ecosystem.

The financial terms have not been disclosed and the transaction has not yet been formally announced as completed. People familiar with the discussions have indicated that Sports365 is being valued at less than the ₹46 crore annual revenue the company reached at its peak in FY21. (Moneycontrol)

If completed, Sports365 would join a portfolio that already includes footwear manufacturer Mochiko, long-term licensing rights for Italian sports brand Lotto, the revived One8 performance brand associated with Virat Kohli and Agilitas' SportsYard retail concept. (Moneycontrol)

Sports365 Could Strengthen Agilitas’ Retail Reach

Sports365 was founded in 2012 by Sekhar Garisa and Vishal Gupta as an early Indian e-commerce platform focused specifically on sports accessories and equipment.

Tennis star Mahesh Bhupathi was involved during its early development, while Yuvraj Singh, Lara Dutta and squash player Dipika Pallikal were among the high-profile names associated with the company as it expanded. (Moneycontrol)

The business built a multi-category retail proposition covering sporting goods rather than focusing on a single apparel or footwear category.

For Agilitas, that existing sports-retail capability could complement its manufacturing and brand-building operations.

Sports365 Revenue Peaked at ₹46 Crore

Sports365 generated around ₹7 crore in revenue during its first full year of operations in FY14 and subsequently expanded to a peak of approximately ₹46 crore in FY21.

The company later lost momentum following the pandemic, with revenue declining to about ₹2 crore in FY25, according to financial data cited by Moneycontrol from Tracxn. (Moneycontrol)

That decline provides important context for the proposed acquisition.

Agilitas would not simply be buying a rapidly growing retail business. It would potentially be acquiring an established sports platform whose brand, customer relationships and operating infrastructure could be rebuilt within a substantially larger ecosystem.

Deal Value Is Reportedly Below Sports365’s Peak Revenue

The proposed acquisition value has not been disclosed.

However, people familiar with the transaction have indicated that Sports365 is being valued below its historical peak annual revenue of ₹46 crore. (Moneycontrol)

That could make the transaction relatively small compared with the capital Agilitas has already raised and invested across manufacturing, brands and retail.

The strategic value may therefore be more important than the headline acquisition price.

Sports365 Raised Less Than ₹15 Crore

Sports365 had raised less than ₹15 crore from investors including Powerhouse Ventures and other backers.

The company was also supported by YouWeCan, the organisation associated with former Indian cricketer Yuvraj Singh. (Moneycontrol)

This makes the proposed transaction another example of athlete-linked investment intersecting with India's growing sports-consumer economy.

Agilitas Is Building an Integrated Sports Platform

Agilitas describes its business around three main pillars:

Manufacturing + Brands + Retail

The company argues that combining these capabilities can create a complete sports ecosystem rather than operating only as a brand owner or retailer. (Agilitas)

That strategy differentiates Agilitas from sports companies dependent primarily on imported products or third-party manufacturing.

Mochiko Gives Agilitas Manufacturing Scale

Agilitas acquired Mochiko Shoes in 2023 to establish a substantial manufacturing foundation.

Mochiko manufactures footwear for global and domestic brands and gives Agilitas direct access to production capabilities.

The company's revenue has expanded sharply since the acquisition, rising from around ₹640 crore in FY23 toward a projected ₹1,450 crore in the current financial year, according to management comments reported in late 2025. (The Times of India)

Manufacturing control can provide advantages involving cost, product development and supply-chain responsiveness.

Lotto Adds a Global Sports Brand

Agilitas also acquired exclusive long-term rights to design, manufacture and distribute Lotto products in India and Australia, with plans for further international expansion.

The agreement gives Agilitas control over important parts of Lotto's local product and distribution strategy rather than functioning simply as a retailer of imported merchandise. (Reuters)

The company has been investing in product development, supply chain, marketing and retail distribution around the brand.

One8 Adds Virat Kohli-Led Brand Equity

Virat Kohli invested approximately ₹40 crore in Agilitas and became an investor in the sports platform while taking a deeper role in One8, the performance and lifestyle brand he helped create. (The Times of India)

Agilitas intends to reposition One8 as a broader Indian performance-sports brand spanning:

• Footwear

• Apparel

• Accessories

• Sporting goods

• Multiple sports categories

The strategy is designed around direct ownership and long-term brand building rather than a conventional celebrity-endorsement arrangement. (The Times of India)

Kohli’s Role Goes Beyond Endorsement

Kohli's association with Agilitas is strategically different from many athlete-brand partnerships.

Rather than simply appearing in advertising, he has invested capital and is involved in One8's creative and strategic direction. (The Times of India)

This aligns incentives more closely.

If the business succeeds, the athlete participates in long-term brand value creation rather than earning only an endorsement fee.

Sports365 Could Add Multi-Brand Distribution

Agilitas already owns and operates individual brands.

Sports365 could give it an additional multi-brand distribution capability.

That distinction matters.

A consumer visiting a One8 store may specifically want One8 products.

A multi-brand sports platform can potentially sell equipment and apparel across several sports and brands.

This provides a broader customer relationship.

Retail Is the Missing Link Between Brands and Consumers

Manufacturing products and owning brands create value, but distribution determines whether consumers can actually buy them easily.

Agilitas' stated model therefore connects:

Factory → Brand → Retail → Consumer

Sports365 could strengthen the final part of that chain.

Its acquisition would potentially provide an existing sports-focused platform that Agilitas could integrate with its newer brand and manufacturing assets.

SportsYard Shows Agilitas’ Physical Retail Ambition

Agilitas has also been developing SportsYard, its multi-brand physical sports-retail concept.

The company has described retail as one of the three pillars of its operating model, alongside manufacturing and brands. (Agilitas)

A Sports365 acquisition could complement this strategy through digital commerce, specialised sports categories and potentially institutional customer relationships.

Omnichannel Sports Retail Is Becoming More Important

Consumers increasingly move between digital and physical retail.

A customer may:

Research online → Try product in store → Purchase through an app

or follow the reverse journey.

Sports companies therefore benefit from integrating e-commerce with physical stores.

Sports365 could give Agilitas another digital layer within a wider omnichannel system.

Sports Equipment Broadens the Opportunity Beyond Apparel

Sportswear is only one part of the sporting-goods market.

Customers also need:

• Cricket equipment

• Badminton products

• Tennis gear

• Fitness accessories

• Running equipment

• Training products

Sports365's historical focus on sports equipment could allow Agilitas to build a broader proposition than one centred mainly on shoes and clothing.

India’s Sports Consumer Market Is Expanding

India's sports and athleisure market has attracted increasing interest from domestic and international companies.

Reuters previously highlighted strong growth in the category as global brands sought partnerships and distribution opportunities in the country. (Reuters)

The opportunity is being supported by several structural trends:

• Rising incomes

• Greater fitness participation

• Growth of running and recreational sports

• More organised retail

• Stronger athlete-led brands

This creates space for companies attempting to build national sports ecosystems.

Sports Participation Is Creating New Consumer Categories

Historically, sporting-goods demand in India was heavily concentrated around cricket.

The consumer market is gradually becoming broader.

Running, badminton, football, fitness training and recreational sports are creating additional categories.

That allows sports retailers to diversify beyond a single sport.

A successful multi-brand platform can potentially serve consumers across their entire participation journey.

Athlete-Led Brands Are Becoming More Strategic

India has long used sports celebrities in advertising.

The emerging model increasingly involves athletes becoming:

• Investors

• Founders

• Brand owners

• Strategic partners

Kohli's deeper relationship with One8 and Agilitas illustrates this shift.

Yuvraj Singh's association with Sports365 and YouWeCan demonstrates an earlier version of athlete-backed entrepreneurship. (Moneycontrol)

Athletes Bring More Than Marketing

Elite athletes can contribute:

• Consumer credibility

• Product insights

• Community

• Brand storytelling

In performance sports, authenticity can be particularly important.

Consumers may distinguish between a general celebrity promoting a shoe and an elite athlete actively involved in developing a performance product.

That can strengthen long-term brand positioning.

Agilitas Was Founded by Former Puma Executives

Agilitas was co-founded by former Puma India and Southeast Asia managing director Abhishek Ganguly, along with Atul Bajaj and Amit Prabhu, both of whom also held senior positions at Puma India. (Moneycontrol)

The founders therefore entered the company with substantial experience across sportswear:

• Brand management

• Retail

• Finance

• Sales

• Operations

That experience has shaped Agilitas' strategy of building a vertically integrated platform rather than starting with a single consumer label.

Agilitas Has Raised More Than $90 Million

Agilitas has raised more than $90 million, or over ₹850 crore, from investors including Virat Kohli, Anushka Sharma, Rainmatter, Convergent and other institutional and strategic investors, according to Moneycontrol. (Moneycontrol)

The company's capital base has allowed it to pursue acquisitions relatively quickly.

Rather than building every capability from scratch, Agilitas has assembled parts of its platform through a combination of acquisitions and partnerships.

Acquisition-Led Growth Can Accelerate Scale

The strategy can be faster than organic expansion.

Agilitas has already assembled:

Mochiko → Manufacturing

Lotto → International brand rights

One8 → Homegrown athlete-led brand

SportsYard → Multi-brand retail

Sports365 could add another established sports-commerce asset. (Moneycontrol)

This approach allows the company to acquire capabilities that might otherwise take years to build.

Integration Is the Main Challenge

Acquisitions create strategic opportunity but also operational complexity.

Agilitas needs to connect:

• Technology

• Inventory

• Brands

• Warehouses

• Retail

• Management teams

Sports365's weak recent revenue performance means integration and revival would be particularly important.

The acquisition would only create value if Agilitas can use its larger ecosystem to restore growth.

Existing Customer Relationships Could Be Valuable

Even a business whose revenue has declined can retain useful assets.

Sports365 may possess:

• Consumer data

• Supplier relationships

• Brand recognition

• Sports-category knowledge

These capabilities can be difficult to replicate immediately.

Agilitas could potentially combine them with a larger marketing and distribution budget.

Institutional Sports Supply Could Be Another Opportunity

Sports retailers can serve more than individual consumers.

Potential institutional customers include:

• Schools

• Sports academies

• Clubs

• Corporates

Equipment purchasing by institutions can produce larger order sizes than conventional consumer retail.

A wider sports platform could therefore combine B2C and B2B revenue streams.

India Lacks Many Large Specialist Sports Retail Chains

India's sporting-goods market remains fragmented compared with categories such as fashion and electronics.

Consumers frequently purchase products from:

• Brand stores

• General retailers

• E-commerce marketplaces

• Local sports shops

A scaled specialist platform could potentially aggregate these categories within one consumer destination.

That appears closely aligned with Agilitas' retail ambitions.

Decathlon Demonstrates Specialist Retail Potential

Large specialist sporting-goods stores have shown that Indian consumers can respond to retail concepts combining multiple sports under one roof.

The strategic question for Agilitas is whether it can create a differentiated Indian alternative using a mix of owned brands, licensed brands and external products.

Sports365 could support that broader assortment.

One8 Could Benefit From Sports365 Distribution

Agilitas plans to grow One8 through e-commerce, apps, exclusive stores and multi-brand distribution. (The Times of India)

Adding Sports365 could create another potential route to consumers.

This matters because emerging brands need distribution density.

A strong product cannot scale if customers cannot discover or purchase it conveniently.

Lotto Could Also Gain Additional Retail Access

The same logic applies to Lotto.

Agilitas holds substantial distribution rights for the brand and has invested in its expansion. (Reuters)

A broader retail platform could give Lotto products additional consumer touchpoints beyond exclusive brand stores.

That increases the potential synergy across Agilitas' portfolio.

Manufacturing and Retail Data Can Reinforce Each Other

Vertical integration can create information advantages.

Retail platforms reveal:

• Which products sell

• Which sizes move fastest

• Which sports are growing

• Which price points consumers prefer

A company controlling manufacturing can respond more quickly to that information.

The potential cycle becomes:

Retail data → Product decisions → Manufacturing → Faster restocking

This is one of the strategic benefits Agilitas is attempting to create.

Faster Product Development Can Improve Competitiveness

Agilitas also operates an R&D and innovation centre focused on sports footwear, including rapid prototyping, material innovation and athlete insights. (Agilitas)

Connecting such capabilities with direct retail information can shorten product-development cycles.

This is particularly important in sportswear, where consumer preferences and technical product requirements change quickly.

Sports365 Could Become a Turnaround Acquisition

Given its decline from ₹46 crore of revenue in FY21 to approximately ₹2 crore in FY25, Sports365 would represent a turnaround opportunity rather than a straightforward high-growth acquisition. (Moneycontrol)

That creates both risk and potential upside.

A relatively low acquisition price could create value if Agilitas successfully revives the platform.

Failure to restore demand would leave limited strategic benefit beyond acquired assets and relationships.

Deal Has Not Yet Been Formally Completed

The most important qualification is that the transaction remains under discussion.

Agilitas and Sports365 had not responded to Moneycontrol's requests for comment when the acquisition talks were reported, and no final financial terms were disclosed. (Moneycontrol)

Until a definitive agreement is announced, the proposed acquisition should be treated as an advanced negotiation rather than a completed transaction.

What the Sports Industry Should Watch

Key developments include the final acquisition agreement, valuation, treatment of the Sports365 brand, integration with SportsYard, use of the platform for One8 and Lotto distribution, and whether Agilitas can rebuild Sports365's revenues.

The larger strategic question is whether Agilitas can turn its growing collection of manufacturing, brand and retail assets into one coherent consumer platform.

Outlook

Agilitas has moved quickly since its launch, assembling capabilities across sports manufacturing, brand ownership, product development and retail.

Its existing portfolio includes Mochiko, Lotto, One8 and SportsYard, while its investor base includes high-profile athletes and institutional backers. (Moneycontrol)

Sports365 would add an established specialist sports-commerce platform to that structure.

The transaction would be relatively small compared with Agilitas' overall capital base, but potentially important strategically because retail distribution is central to its vertically integrated model.

Conclusion

Agilitas' advanced talks to acquire Sports365 underline the company's ambition to build a full-stack Indian sporting-goods business rather than operate as another standalone sportswear label.

Sports365 brings an established sports-retail identity, category expertise and historical customer relationships, although its revenue has fallen sharply from a ₹46 crore peak in FY21 to around ₹2 crore in FY25. (Moneycontrol)

For Agilitas, the opportunity lies in combining that platform with the assets it has already assembled: Mochiko's manufacturing capability, Lotto's international brand rights, Virat Kohli-linked One8 and the SportsYard retail concept. (Moneycontrol)

If completed and successfully integrated, the Sports365 acquisition could strengthen Agilitas' ability to connect product development, manufacturing, brands, digital commerce and physical retail within one sports ecosystem.

The deal is not final yet, but it illustrates the larger transformation underway in India's sporting-goods market as athlete-backed brands, specialist retailers and institutional investors compete to build scaled domestic sports platforms.