Virat Kohli rejects Rs 300 crore offer from Puma to renew contract, joins homegrown sportswear maker as...

Virat Kohli is one of the most popular Indian star cricketers with a huge fan following. Besides cricket, the 36-year-old earns through multiple brand deals and ads. The RCB player recently completed his eight-year relationship with Puma as its brand ambassador. He then declined the German sportswear giant's Rs 300 crore offer to renew the contract for the next eight years, according to industry sources, PTI reported. Instead, Kohli joined homegrown aspirational sportswear maker Agilitas as an investor and co-creator, sources added. The company plans to go global, riding on the popularity of the ace Indian cricketer. Set up in 2023, Agilitas is backed by former Puma India and South-East Asia Managing Director Abhishek Ganguly. A formal announcement over the development is expected in the next three months, as Agilitas is currently working on the launch of the brand and opening of new stores for One8, the brand registered in 2016 by Kohli.

Though the sources acknowledged Kholi's investment in Agilitas, they refused to divulge the details, saying it is a large sum. In 2017, Kohli had inked a nearly Rs 110 crore contract with Puma for eight years, which was one of the highest for the Indian sports industry at that time. One8 was in collaboration with Puma and had cornered a business of around Rs 250 crore. Under 'Puma One8' it had an exclusive range of merchandise. Now, One8 plans to open stores and take the brand abroad, leveraging Kohli's popularity among cricket fans. It will be similar to tennis star Roger Federer's investment in the Swiss athletic apparel company On. A model called 'The Roger Advantage' has been co-created with the Swiss tennis star.

Virat Kohli's role in One8

Kohli will also be involved in One8 as its brand ambassador and as a co-creator. It has the potential to become India's first aspirational brand to go on a global scale with its footwear and sportswear. It also plans for distribution in lead markets such as the US and UK. In 2023, Agilitas Sports announced the acquisition of sports footwear manufacturer Mochiko Shoes, India's largest sports footwear manufacturer for the domestic market, for an undisclosed amount. In its first year, Agilitas raised Rs 600 crore through Convergent Finance, Nexus Venture Partners and another Rs 30 crore from individual investors.

(With inputs from PTI)

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