Agilitas Sports acquires Mochiko Shoes
Sportswear and athleisure platform Agilitas Sports has acquired sports footwear manufacturer Mochiko Shoes. Projected to grow to a Rs 820 crore brand this financial year, Mochiko Shoes counts itself as the first sports footwear manufacturer in India to receive a Bureau of Indian Standards licence.
“This acquisition augments Agilitas’ value proposition, by strengthening our supply chain in the rapidly growing sports footwear market,” said Agilitas Sports’ co-founder and CEO Abhishek Ganguly in a press release. “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.”
Mochiko Shoes counts international brands including Adidas, Puma, New Balance, Skechers, Reebok, Asics, Crocs, Decathlon, Clarks, and US Polo amongst its clientele and describes itself as the largest sports footwear manufacturer for the Indian market. The business reported a revenue total of Rs 642 crore in the 2023 financial year and expects strong growth this fiscal of around 30% year-on-year.
“Joining the Agilitas family propels our ambitions,” said Mochiko Shoes Private Limited’s founder and CEO Virender Awal. “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 five to six years, adding jobs and livelihood.”
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