-By Ankita Dutta.
Puma, the international sports enterprise, has declared Karthik Balagopalan as the new Managing Director of Puma India, which is recognized for its rapid expansion, effective immediately. Balagopalan, who currently serves as Puma’s Global Director of Retail and E-commerce, has been with the company since 2006. In his new role, he will be based in Bangalore, India, and report to Puma CEO, Arne Freundt.
According to a media release, Balagopalan’s previous experience in management positions within Puma India – including in retail operations and business development – along with his exposure to global business and headquarters functions, makes him the ideal candidate for overseeing the Indian market.
Puma India’s former Managing Director, Abhishek Ganguly, who worked for the company for 17 years, is stepping down to pursue a career as an entrepreneur in his own venture. Ganguly was the Managing Director of Puma India since 2014 and played a crucial role in making Puma the number one brand in India.
Puma CEO, Arne Freundt, praised Balagopalan’s appointment, saying, “India is a vibrant market, where Puma has been the No. 1 brand for many years. Employing Karthik marks the beginning of a new and prosperous phase for the company, as per Freundt. He further expressed his gratitude towards anguly for his dedication and spirit during his tenure and wished him the best for his future entrepreneurial undertaking.
Starting from August 1, 2023, Balagopalan will take on the position of Managing Director of Puma India, while Ganguly will continue working with the company till the end of August to facilitate a seamless handover process.
The appointment comes amidst a surge in demand for athleisure and sportswear across India. Puma has become a popular brand amongst Indian consumers, thanks in part to the company’s strong marketing campaigns that target young millennials and a diverse range of athletes.
In recent years, Puma has focused on expanding its presence in India, with the company announcing plans to open up hundreds of stores across the country. The appointment of Balagopalan as Managing Director of Puma India is seen as a strategic move to help drive forward the company’s ambitious growth plans in the region.
The appointment of Karthik Balagopalan as the new Managing Director of Puma India reflects the company’s continued commitment to expanding its presence in one of its fastest-growing markets. Balagopalan’s experience in management positions within the company, combined with his exposure to global business and headquarters functions, makes him the ideal candidate to oversee Puma’s Indian operations. Puma India’s former Managing Director, Abhishek Ganguly, who played a pivotal role in the company’s success in India, is stepping down to pursue a career as an entrepreneur.
