Karthik replaces Abhishek Ganguly, who worked for Puma’s Indian business for 17 years and has been the Managing Director of Puma India since 2014
New Delhi: Sports brand Puma has appointed Puma’s global director retail and e-commerce Karthik Balagopalan (42) as its new Managing Director of Puma India, one of the company’s fastest growing markets.
Karthik has been with Puma since 2006. Prior to leading Puma’s global DTC business, he held management positions in retail operations and business development sections at Puma India. His local knowledge, relevant experience in the direct-to-consumer (D2C) business across all channels combined with exposure to global business and headquarter functions makes him the ideal candidate for managing the important Indian market. He will report to Puma chief executive officer, Arne Freundt and will be based in Bengaluru, India.
Karthik replaces Abhishek Ganguly, who worked for Puma’s Indian business for 17 years and has been the Managing Director of Puma India since 2014. Abhishek Ganguly is leaving Puma to pursue a career as an entrepreneur at his own venture.
“India is a vibrant market, where Puma has been the No. 1 brand for many years. With the appointment of Karthik, we will write the next chapter of this very successful story,” said Puma chief executive officer Arne Freundt.
He further added, “I would like to thank Abhishek for his energy and commitment over the past 17 years and wish him all the best for his future as an entrepreneur.”
Karthik will start in his new role on August 1, 2023. Abhishek will remain at Puma until the end of August to ensure a smooth transition.
During Ganguly’s leadership, Puma witnessed multi-fold growth – from being a Rs 500 crore company to Rs 2,980 crore in 2023 – outpacing rivals such as Adidas, Nike and Reebok, said PTI in a post.
Further added PTI, “Puma sales in India are now more than the combined sales of three rival multinationals – Adidas, Nike and Reebok.”