BENGALURU, April 19 (Reuters) - Indian sports and

athleisure company Agilitas Sports said on Friday it had

acquired exclusive rights to design, manufacture, and distribute

products of popular Italian sports brand Lotto across India and

Australia, with plans to expand to South Africa soon.

Agilitas, headed by former Puma India Managing Director

Abhishek Ganguly, will buy the brand license from New York

investment firm WHP Global and aim to launch the Lotto products

in India by early 2025.

The company, however, did not disclose the financial terms

of the deal.

Last year, WHP Global had signed a license agreement with

Germany's Fashioncenter GmbH to expand the Lotto brand in

Central Europe.

An unprecedented boom in India's sports and athleisure

market is luring foreign brands like Foot Locker ( FL ) to

partner with local sportswear companies in a bid to secure a

foothold in the growing market.

"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 the

license," said Ganguly, CEO of Agilitas Sports.

The company is also investing in research and development,

supply chain, marketing and distribution in the near future, he

said.

Agilitas, which is backed by venture capital firm Nexus

Venture Partners, will distribute the Lotto branded products

through its online channels and exclusive brand outlets.