Venkat Ananth (@venkatananth) header
Venkat Ananth (@venkatananth) profile picture

Building and writing @stateofplayclub, a weekly, subscriber-led publication on the business of Indian sport. 📧: [email protected]

BOM—DEL—BLR
Joined November 2008
For @stateofplayclub, I write about Nike’s second innings in India. - How the @mipaltan deal came together (and why) - Where India fits into Beaverton’s “Sport Offense” and how Vegam Run explains it - The IPL kitting business and why this heralds a breakout moment - Nike’s Apple-like plans. By India, for the world
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I don’t know if I should put all of this in words and in public, but here we go. Those who know me and have interacted with me, especially over the past 18 months, would have heard a version of this thread multiple times already. A year ago, I launched @stateofplayclub.
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This thread is dragging on, I guess. Thank you for getting us here. If you’re curious about the business of Indian sport and where it heads from here, come read along. I’m not great at asking folks to subscribe, but if you do wish to, here’s where you go stateofplay.club/signup
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On October 23, the NCLT approved the merger of @imVkohli’s One8 Sports into Agilitas Sports. The share swap takes Kohli’s stake in Agilitas from 1.8% to 6.4%, the company said, without any fresh money. At @stateofplayclub, we traced how One8 got here in July.
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One interesting aspect of Nike’s build-out in India is its southern manufacturing belt, primarily in Tamil Nadu, Andhra Pradesh, and Karnataka. @stateofplayclub mapped it. This is key to its plan to replicate Apple's playbook. Currently, India accounts for about 5% of its sourcing. You can read about it in our story on Nike’s second innings in India.
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You can read the full, subscriber-only story here. stateofplay.club/nike-india-…
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Quite enjoyed putting this one together (over months of reportage and nuggets of stray information across several notebooks). Began this way in April 2026 (with the first conversations around it right after Nike’s Nykaa deal). Excuse the handwriting 😭
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