Bengaluru-based sportswear startup Agilitas Sports has taken a significant stride in its growth journey by acquiring Mochiko Shoes, India's leading sports footwear manufacturer for the domestic market. This strategic move, driven by Agilitas, is set to reshape the landscape of sportswear and athleisure categories in the country.
The Acquisition Unveiled: Agilitas Sports, on its quest to elevate its presence in the sportswear industry, has made a strategic acquisition by adding Mochiko Shoes to its portfolio. The acquisition brings together two prominent players in the sportswear arena, promising exciting developments for the Indian sportswear market.
Kickstarting Domestic Manufacturing: With this acquisition, Agilitas aims to kickstart manufacturing products across the sportswear and athleisure categories. The synergy between Agilitas and Mochiko Shoes is expected to result in a wide range of high-quality sportswear and footwear products, catering to the diverse needs of consumers.
Strong Ties with Renowned Brands: Mochiko Shoes has established strong ties with globally renowned brands, including Adidas, Puma, New Balance, Skechers, Reebok, Asics, and Crocs. The company manufactures products for these brands in India, showcasing its prowess in the industry. This acquisition not only strengthens Agilitas' manufacturing capabilities but also opens doors to collaboration with these esteemed brands.
Agilitas' Recent Funding Boost: The timing of this acquisition is noteworthy as it comes on the heels of Agilitas Sports securing a substantial $52 million in funding. The funding round was led by Convergent Finance and included support from a group of angel investors. This financial backing provides Agilitas with the resources needed to fuel its expansion and innovation efforts.
The Path Forward: The acquisition of Mochiko Shoes aligns with Agilitas Sports' commitment to delivering top-notch sportswear and athleisure products to consumers. With a focus on domestic manufacturing, the company aims to not only meet but exceed the expectations of its customers. This strategic move solidifies Agilitas' position as a formidable player in the Indian sportswear market.
Conclusion: Agilitas Sports' acquisition of Mochiko Shoes marks a significant step forward in the Indian sportswear industry. By joining forces, these two industry leaders are poised to make a lasting impact, offering consumers an extensive range of sportswear and footwear options. With strong ties to global brands and recent funding support, Agilitas is well-equipped to drive innovation and growth in the domestic sportswear market. As consumer preferences continue to evolve, this acquisition positions Agilitas to meet the changing needs of athletes and fitness enthusiasts across India.
