Agilitas Sports activities acquires unique rights for Lotto in India, Australia
By
Reuters
Revealed
Apr 19, 2024
Indian sports activities and athleisure firm Agilitas Sports activities mentioned on Friday it had acquired unique rights to design, manufacture, and distribute merchandise of well-liked Italian sports activities model Lotto throughout India and Australia, with plans to increase to South Africa quickly.
Agilitas Sports activities acquires unique rights for Lotto in India, Australia – Lotto
Agilitas, headed by former Puma India Managing Director Abhishek Ganguly, will purchase the model license from New York funding agency WHP World and purpose to launch the Lotto merchandise in India by early 2025.
The corporate, nonetheless, didn’t disclose the monetary phrases of the deal.
Final 12 months, WHP World had signed a license settlement with Germany’s Fashioncenter GmbH to increase the Lotto model in Central Europe.
An unprecedented growth in India’s sports activities and athleisure market is luring international manufacturers like Foot Locker to companion with native sportswear corporations in a bid to safe a foothold within the rising market.
“As Agilitas Sports activities pursues worthwhile and sustainable progress, this collaboration is poised to make a major impression on our enterprise and the buyer markets below the license,” mentioned Ganguly, CEO of Agilitas Sports activities.
The corporate can also be investing in analysis and improvement, provide chain, advertising and marketing and distribution within the close to future, he mentioned.
Agilitas, which is backed by enterprise capital agency Nexus Enterprise Companions, will distribute the Lotto branded merchandise via its on-line channels and unique model retailers.
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