Bangalore-based sportswear and athleisure company Agilitas Sports, co-founded by former Puma India MD Abhishek Ganguly, has made a significant move by acquiring Mochiko Shoes to enhance its manufacturing capabilities. Mochiko Shoes, founded in 2008 by Virender Awal, is a contract manufacturing partner for top international brands like Adidas, Puma, New Balance, Skechers, Reebok, Asics, Crocs, Decathlon, Clarks, and US Polo.
In the financial year 2022-23, Mochiko Shoes reported revenues of Rs. 642 crore, and this year, they are expected to grow by an impressive 30 per cent. The company operates manufacturing units in Dehradun, Rishikesh, and NCR, providing employment to around 10,000 individuals.
Abhishek Ganguly, CEO and Co-Founder of Agilitas Sports, expressed his enthusiasm for the acquisition, stating, “This acquisition augments Agilitas’ value proposition by strengthening our supply chain in the rapidly growing sports footwear market. Mochiko’s manufacturing capabilities, operational excellence, and strategic partnerships with leading global giants position us to respond to the Government’s call to ‘Make in India.’ We aim to cater to the rising aspirations of an economic superpower with the largest youth population.”
To make this acquisition possible, Agilitas Sports secured Rs. 430 crore from funds advised by investment management advisory Convergent Finance and other individual investors. This strategic move is expected to have a significant impact on the sportswear industry in India, paving the way for increased manufacturing and supply chain efficiency.
