M&A

M&A

Sportswear startup Agilitas acquires sports footwear maker Mochiko

Mint  

Bengaluru-based sportswear startup Agilitas Sports has acquired Dehradun-headquartered Mochiko Shoes, a sports footwear manufacturer. Mochiko Shoes works with international sports brands including Adidas, Puma, New Balance, Skechers, Reebok, Asics, Crocs, Decathlon, and Clarks. Established in 2008, by Virender Awal and a co-founding team of five members, Mochiko Shoes registered a revenue of INR 642 crore in FY23. Agilitas Sports will retain the entire team of Mochiko following the acquisition. The company has manufacturing units in Dehradun and Rishikesh (Uttarakhand) as well as in Noida. Mochiko employs nearly 10,000 people. The development comes months after Agilitas raised USD 52 million from Convergent Finance and a clutch of angel investors.