Sporting goods manufacturing startup Agilitas is in advanced discussions to acquire Sports365, a company specializing in the retail of sports accessories and equipment, as it looks to expand distribution and reach a broader customer base, according to people familiar with the matter.
Founded in 2012 by Sekhar Garisa and Vishal Gupta, Sports365 was among India’s earliest e-commerce platforms focused exclusively on sporting goods. Indian tennis star Mahesh Bhupathi helped set up the venture in its formative years, and the company later attracted other prominent personalities, including cricketer Yuvraj Singh, actor Lara Dutta, and international squash player Dipika Pallikal.
Sports365 reported revenue of around ₹7 crore in FY14, its first full year of operations, and steadily expanded to a peak revenue of ₹46 crore in FY21. However, the business lost momentum after the pandemic, and its revenue declined sharply to about ₹2 crore in FY25, according to data from Tracxn.
Abhishek Ganguly, former Managing Director of Puma India and Southeast Asia, co-founded Agilitas with Atul Bajaj, former Executive Director – Sales and Operations at Puma India, and Amit Prabhu, former Chief Financial Officer of Puma India.
Although the companies have not disclosed the financial terms of the transaction, people familiar with the negotiations said the deal values Sports365 at less than its peak annual revenue of ₹46 crore.
Sports365 had raised under ₹15 crore from Powerhouse Ventures and several other investors. The company also received backing from YouWeCan, the non-profit initiative led by Yuvraj Singh.
For Agilitas, the proposed Sports365 transaction would represent another step in its acquisition-driven growth strategy. The company previously acquired Mochiko Shoes, secured long-term licensing rights to Loto, and revived One8, the sporting brand associated with cricketer Virat Kohli.
Since its inception, Agilitas has raised more than $90 million (over ₹850 crore) from investors including Virat Kohli, actress Anushka Sharma, Rainmatter, Yuvraj Singh, Convergent, and others. Around half of the latest funding round has already been secured, with the remaining capital expected to close over the next few months.
The acquisition would give Agilitas access to Sports365’s established sports retail network and digital commerce expertise, complementing its manufacturing and brand-building capabilities. It would also help Agilitas expand beyond product ownership into direct consumer engagement across equipment, accessories, and apparel categories.
Industry observers see the move as part of a broader consolidation trend in India’s sports and fitness market, where companies are combining manufacturing, branding, and retail capabilities to build integrated sports ecosystems.
If completed, the Sports365 acquisition would further strengthen Agilitas’ ambition to become a full-spectrum sports business spanning manufacturing, licensing, brand development, and retail distribution. For Sports365, the deal could provide fresh capital, operational support, and access to a larger consumer platform after several years of declining revenue.
