Agilitas Sports, a sportswear and athleisure solutions platform, has been launched in India by the outgoing executives of Puma India, led by Abhishek Ganguly, the managing director of Puma India and Southeast Asia. The company aims to disrupt and redefine the sportswear industry in India by integrating innovation and technology throughout the entire value chain of sports clothing and footwear.
Agilitas Sports has secured a total investment of ₹430 crore for its operations. Convergent Finance LLP, an investment management and advisory partnership led by Harsha Raghavan, has advised several funds that invested ₹400 crore in the company, while individual investors contributed ₹30 crore.
The founding team of Agilitas Sports includes Abhishek Ganguly, Atul Bajaj (outgoing executive director, sales and operations, Puma India), and Amit Prabhu (outgoing chief financial officer, Puma India). Together, they bring extensive experience and expertise in the sportswear industry.
Agilitas Sports aims to focus on customer experience and customer-centricity, intending to build meaningful communities in the Indian sports and sportswear space. The company also plans to invest in digital assets and leverage India’s growing market for sportswear and athleisure.
Harsha Raghavan, the Managing Partner of Convergent Finance LLP, stated that Convergent will collaborate with Agilitas in areas such as operations, capital allocation, and long-term business strategy.
Abhishek Ganguly emphasized the potential for growth in the Indian sportswear and footwear industry. He highlighted opportunities across the entire value chain, including manufacturing, distribution, and retail. With the increasing focus on fitness and the shift towards comfort clothing due to the pandemic, the demand for sportswear is expected to rise significantly. Ganguly projected that the market for sportswear will quadruple by 2030.
Convergent Finance LLP expressed confidence in the founding team’s capabilities and their successful track record in building a sports and athleisure-focused business. They believe that Agilitas represents the next step in India’s consumer story, given the nation’s emphasis on fitness and “Made in India” products.
The launch of Agilitas Sports marks an exciting development in the Indian sportswear industry, with a strong emphasis on innovation, technology, and customer-centricity. The company aims to capitalize on the growing demand for sportswear and contribute to the evolving consumer landscape in India.
