Virat Kohli to sell One8 to Abhishek Ganguly-led Agilitas Sports

Virat Kohli has agreed to sell his sports and lifestyle brand One8 to footwear and apparel company Agilitas Sports, while also investing Rs 40 crore in the company.

As part of the transaction, Kohli will join Agilitas as an investor and co-founder of one8. Separately, Kohli will invest Rs 40 crore in his personal capacity to acquire a minority stake in Agilitas Sports. 

The exact stake size related to this investment was not disclosed. 

In June, Entrackr reported that Kohli acquired a 1.49% stake in the company for his investment. The same funding round also saw participation from Indian cricketer Abhishek Sharma, who invested in the firm at that time.

Virat Kohli launched one8 as an internet first lifestyle brand offering sportswear with Puma, apparel, accessories, innerwear and fragrances, and later expanded it into the restaurant chain one8 Commune focused on communal dining.

Agilitas Sports was founded in 2023 by Abhishek Ganguly, former managing director of Puma India and Southeast Asia. The company operates across sports footwear, apparel and accessories and has been expanding through acquisitions. It previously acquired Mochiko Shoes to strengthen its manufacturing capabilities.

Ganguly worked closely with Kohli after signing him with Puma in 2017 under a deal valued at around Rs 110 crore, during which the One8 lifestyle athleisure brand was launched. In April, Kohli exited his association with Puma after declining the brand’s Rs 300 crore renewal offer for an additional eight years and opted to invest in Agilitas instead.

On the funding front, Agilitas is in advanced talks to raise around Rs 450 crore from existing investor Nexus Venture Partners. Agilitas Sports has so far raised over Rs 600 crore to date from investors including Spring Marketing Capital, SMLINE Ventures and Infinity Direct Holding.