Virat Kohli lowered his offer of Rs 3 billion to renew his contract with PUMA and now invests…
In 2017, Virat Kohli signed an eight-year contract with PUMA, one of the highest contracts in the Indian sports industry at the time.
Virat Kohli is one of India’s most popular cricketers with a huge following. In addition to cricket, the 36-year-old makes money through multiple brand transactions and advertising. The RCB player recently formed an eight-year relationship with PUMA to become his brand ambassador. He then turned down the German sportswear giant’s 3 billion rupees proposal to renew his contract for the next eight years, PTI reported. Sources added that Kohli joined Agilitas, a local volunteer sportswear maker, as an investor and co-creator. The company plans to grow globally in the popularity of Ace Indian cricketers. Agilitas was founded in 2023 and is backed by Abhishek Ganguly, former managing director of PUMA India and Southeast Asia. Official announcements about the development are expected in the next three months as Agilitas is currently launching the brand and opening a new store as One8, which was registered by Kohli in 2016.
Although sources acknowledged Hawley’s investment in Agilly Talita, they declined to disclose details, saying it was a huge sum of money. In 2017, Kohli signed a contract of nearly Rs 1.1 crore with PUMA for eight years, one of the highest contracts in the Indian sports industry at that time. One8 partnered with PUMA and sold about Rs 250 crore in business. Under “Puma One8”, it has a range of merchandise. Now, One8 plans to open a store and bring the brand abroad, leveraging Kohli’s popularity among cricket fans. This will be similar to the investment by tennis star Roger Federer in Swiss sports apparel. A model called “Roger’s Advantage” was created with Swiss Tennis Stars.
What Virat Kohli does in One8
Kohli will also be involved in One8’s brand ambassador and co-creator. It has the potential to become the first ideal brand in India to be on a global scale with footwear and sportswear. It also plans to distribute in lead markets such as the United States and the United Kingdom. In 2023, Agilitas Sports announced the acquisition of Mochiko Shoes, the largest domestic sneaker manufacturer in India, with its number undisclosed. In the first year, Agilitas raised Rs 6 billion through an additional Rs 3 billion from Contergent Finance, Nexus Venture Partners and individual investors.
(Input with PTI)
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