Was Virat Kohli’s One8 deal a cheap sale? CA explains valuation reality as against viral claims 

Virat Kohli has agreed to sell his sports and lifestyle brand One8 to footwear and apparel company Agilitas Sports, while simultaneously investing Rs 40 crore in the company. As part of the deal, Kohli will join Agilitas as an investor and co-founder of One8. His personal investment grants him a minority stake in Agilitas, though the exact size of this stake has not been publicly disclosed.

Launched as an internet-first lifestyle brand, One8 offers sportswear in partnership with Puma, including apparel, accessories, innerwear, and fragrances. The brand later expanded into the restaurant business with one8 Commune, focusing on dining experiences.

Despite social media chatter and memes suggesting Kohli “sold One8 for Rs 40 crore at a 2% stake,” CA Nitin Kaushik recently clarified that this narrative is misleading and oversimplified. In a detailed post on X (formerly Twitter), Kaushik explained that Kohli’s investment of ₹40 crore corresponds to roughly a 1.9–2% stake in Agilitas, which is acquiring One8 and integrating it into a larger, scalable platform. This transaction implies an overall valuation for Agilitas of around Rs 2,000 crore—far beyond the meme-fueled claim of Rs 40 crore.

Kaushik said the deal is less about a straightforward sale and more about brand consolidation into a bigger platform with manufacturing, retail, supply chain, and global expansion capabilities. “One8 wasn’t ‘given away,’” he explained. “Virat upgraded: moving from a standalone brand to equity in a much larger company with greater growth potential. This is a classic founder’s move—trading full control of a small entity for ownership in a bigger, scalable business.”

According to filings and reports, Kaushik confirmed:

Virat invested around Rs 40 crore for about 1.9–2% equity in Agilitas’ latest round.

Agilitas is acquiring One8, with Kohli transferring the brand into their portfolio.

The exact split of equity between cash investment and brand contribution is not publicly known.

Kaushik pointed out that assumptions equating Rs 40 crore to a 2% stake in One8’s brand valuation are inaccurate. The implied valuation from the investment suggests a much larger company value. Even if the One8-linked equity stake is slightly higher—say 3–4%—the company’s valuation remains well above ₹40 crore.

Agilitas Sports, founded in 2023 by Abhishek Ganguly, former managing director of Puma India and Southeast Asia, has been expanding aggressively through acquisitions like Mochiko Shoes to strengthen production capabilities. Ganguly and Kohli share a longstanding professional relationship dating back to 2017 when Puma signed Kohli in a deal valued around Rs 110 crore, launching the One8 athleisure brand.

Kaushik’s key takeaway for founders and investors is that aligning with scalable platforms often outweighs emotional attachment to smaller brands. “Owning 100% of a small brand limits growth, but a minority stake in a powerful platform multiplies upside,” he said. “Virat didn’t exit One8, he amplified it.”