Thursday, September 14, 2023

Agilitas Sports Acquires Mochiko Shoes, India’s Largest And First Sports Footwear Manufacturer To Receive BIS License

·         Mochiko Shoes registered revenue of INR 642 crore in FY2023

·         Mochiko is the largest Sports Footwear Manufacturer supplying to the India market

·         Mochiko is projected to grow to INR 820 crores in the current fiscal

·         Mochiko’s clientele includes leading international brands such as Adidas, Puma, New Balance, Skechers, Reebok, Asics, Crocs, Decathlon, Clarks and US Polo

·         Mochiko is the first sports footwear manufacturer in India to receive BIS licence

Agilitas Sports, an innovation-led sportswear and Athleisure solutions platform, co-founded by Abhishek Ganguly, ex-MD, Puma (India & South-East Asia), has in a significant move, announced the acquisition of Mochiko Shoes Pvt Ltd, India’s largest sports footwear manufacturer for the domestic market.

“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, positions us to address the Government’s clarion call to ‘Make in India’, and to cater to the rising aspirations of an economic superpower, with the largest youth population”, said Abhishek Ganguly, CEO & Co-Founder, Agilitas Sports.

Established in 2008, by Virender Awal and a co-founding team of five members, Mochiko Shoes registered a revenue of INR 642 crore in FY2023, and is estimated to grow by 30 per cent, Year-on-Year (Y-o-Y).

Virender Awal, Founder & CEO of Mochiko Shoes Pvt. Ltd., spoke about the acquisition, “Joining the Agilitas family propels our ambitions. We are now poised to enhance long-term investments, addressing the soaring demand in the Sports and Athleisure footwear sector. We envision multi-fold and multifaceted growth in our business over the next 5-6 years, adding jobs and livelihood.”

Today, Mochiko Shoes is a manufacturing partner to leading international brands, such as Adidas, Puma, New Balance, Skechers, Reebok, Asics, Crocs, Decathlon, Clarks, US Polo, among others.

With fully integrated, end-to-end manufacturing capabilities, Mochiko is the first sports footwear manufacturer in India to receive BIS licence, and is fully compliant to the soon-to-be-implemented Quality Control Orders (QCOs), by the Government of India. Additionally, all its units are ISO 9001, 14001 and 45001 certified.

The company has manufacturing units located in Dehradun and Rishikesh (Uttarakhand) as well as in the National Capital Region (NCR), of Noida. Mochiko employs nearly 10,000 individuals, across the length and breadth of its operations.

The founding team of Agilitas Sports comprises of Abhishek Ganguly, the former Managing Director of PUMA India and South East Asia, Atul Bajaj, former Executive Director – Sales and Operations of PUMA India, and Amit Prabhu, former Executive Director & Chief Financial Officer of PUMA India.

About Agilitas Sports Private Limited:

Agilitas Sports is an innovation-led sportswear and athleisure solutions platform, focused on democratizing sports & proliferating a culture of sportsmanship in India. The initial round of investment in the company was done funds advised by Convergent Finance LLP, an investment management and advisory partnership led by Harsha Raghavan. They had invested Rs. 400 crores and another Rs. 30 crores had come from individual investors.

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