NEW
YORK, April 19, 2024 /PRNewswire/ -- WHP
Global announced today a new long-term license for
LOTTO® with Agilitas Sports, an innovation-led
sportswear and athleisure solutions platform. Through this license,
Agilitas will have the exclusive rights to design, manufacture,
promote, and distribute the LOTTO brand in India, Australia, and soon in South Africa.
"We are delighted to embark on this journey with Agilitas
Sports," said Stanley Silverstein,
Chief Commercial Officer at WHP Global. "We are impressed by the
expertise of the company's founders in the sportswear and
athleisure market, along with the comprehensive business model they
have crafted at Agilitas. Their dedicated focus on the sportswear
industry, and a profound belief in India's promising future as well as other
markets like Australia and
South Africa, is in line with our
core mission of growing the Lotto brand globally."
The acquisition of Lotto license rights comes at a time when
India is witnessing an
unprecedented boom in the Sports Performance and Athleisure
categories. Agilitas, recognizing this unprecedented opportunity,
are set to create a company that impacts the entire value chain
from Manufacturing to Retail.
Speaking on the partnership, Abhishek
Ganguly, Co-founder & CEO of Agilitas Sports
stated: "We are excited to launch our first consumer brand
license with Lotto. Through this license agreement, we will build
and implement state-of-the-art manufacturing, cutting-edge
technology, and design innovation for Lotto for its product
development, in addition to marketing and retailing of the brand.
Agilitas will invest in a dedicated management team to grow the
Lotto brand through product creation, design innovation, supply
chain, branding, marketing, and channels of distribution. Our
Design & Development team in Bangalore, brings together a wealth of
experience in established global brands, enabling us to create
relevant products that resonate with the Indian consumers. We aim
to build an agile product creation cycle and supply chain which is
vertically integrated from manufacturing to retail. This would
enable us to react quickly to consumer insights and latest trends
in an agile and nimble manner. As Agilitas Sports pursues
profitable and sustainable growth, this collaboration is poised to
make a significant impact on our business and the consumer markets
under license."
Agilitas, recently acquired Mochiko – the country's leading
footwear manufacturer, that has scaled up its production and
manufacturing solutions. Through this partnership, Agilitas, with
its profound understanding of the Indian Sportswear industry aims
to penetrate the markets and grow the Lotto brand exponentially.
The company is making large investments in manufacturing,
designing, R&D, supply chain, marketing, and distribution in
the near future.
With an aim to launch by early 2025, Agilitas plans a
multi-category offering in footwear, apparel, accessories, and
sports equipment. Mochiko's establishment of a dedicated factory in
Noida to manufacture Lotto validates Agilitas Sports' commitment to
manufacturing in India. The
company plans to over index and focus on delivering a very high
value proposition with regards to cost to the consumer.
Agilitas will distribute Lotto products through D2C online
channels, brand EBOs, shop-in-shops with retail partners and online
marketplaces from its first year of launch. Additionally, the
objective is to bolster Lotto's presence through consumer
engagement, marketing, and partnerships with athletes and clubs.
Simultaneously, Agilitas will also nurture grassroot talent and
foster collaborations with designers, artists, and musicians,
aiming to build lasting brand affinity among aspirational
consumers.
Margaret Kivett, SVP of WHP
Global's Athletic Vertical added, "Partnering with Agilitas
Sports marks an exciting chapter for Lotto. We are thrilled to
collaborate with their dynamic team to amplify Lotto's presence in
pivotal global markets, particularly in soccer and racket sports
hotspots like India and
Australia. Together, we're poised
to elevate the brand's reach and impact, bringing the spirit of
Lotto to even more enthusiasts worldwide."
By leveraging Lotto's 50-year legacy alongside Agilitas Sports'
end to end capabilities in Sportswear category, the partnership is
set to introduce unparalleled products and experiences to athletes,
sports enthusiasts, and fashion-forward individuals in multiple
countries.
ABOUT LOTTO:
LOTTO, a premier Italian sports brand established in 1973, is
world-renowned for its innovative performance-driven footwear,
apparel, and accessories which feature the signature double diamond
logo. Rich with history in soccer, LOTTO has been worn by
professional soccer teams A.C. Milan and Juventus F.C. and elite
soccer players Dino Zoff, Ruud
Gullit and Andriy Shevchenko. Today, LOTTO is distributed in over
100 countries. The brand is currently worn by more than 40 soccer
teams, over 300 professional soccer players, and more than 200
professional tennis players. For more information, please
visit www.lottosport.com.
ABOUT AGILITAS SPORTS
Agilitas Sports is an
innovation-led sports company, that is committed to transforming
the category and experience. With a comprehensive approach, the
team is building robust manufacturing capabilities, further fuelled
by strong R&D centers and product design labs. They have
acquired Mochiko Shoes Pvt Ltd. Mochiko is the leading sports
footwear manufacturer in India and
makes products for leading brands including Adidas, Puma, New
Balance, Skechers, Reebok, Asics, Crocs, Decathlon, Clarks, and US
Polo. Agilitas Sports has raised funds advised by Convergent
Finance LLP, an investment management and advisory partnership led
by Harsha Raghavan, have invested
Rs 400 crore, and Rs 30 crore have come from individual investors.
They have secured funding of Rs 100
crore from Nexus Venture Partners to scale up its
trajectory, further solidifying its capabilities in research,
manufacturing, and retail.
ABOUT WHP GLOBAL
WHP Global is a leading New York
based firm that acquires global consumer brands and invests in
high-growth distribution channels including digital commerce
platforms and global expansion. WHP owns a portfolio of consumer
brands that collectively generate over USD $7 billion in global retail sales. The company
also owns WHP+, a turnkey direct to consumer digital e-commerce
platform, and WHP SOLUTIONS, a sourcing agency based in
Asia. For more information, please
visit www.whp-global.com.
Media Contacts:
WHP Global/LOTTO
Jaime
Cassavechia
376433@email4pr.com
646.701.7041
Agilitas Sports
Deepika
Gurung
376433@email4pr.com
+9199866 36566
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SOURCE WHP Global