PUMA India has appointed former Benetton India Managing Director & CEO Ramprasad Sridharan as its new Managing Director. The appointment follows the exit of Karthik Balagopalan, who stepped down last month to focus on family priorities in Germany. Reportedly, Sridharan will take charge in December and will report to PUMA’s Chief Commercial Officer, Matthias Bäumer.
“Ram is a highly experienced leader with a strong track record in the fashion and footwear industry. He brings deep retail expertise to PUMA that will strengthen our operations and support India as one of our key markets,” said Bäumer. “I am confident that his strong background will help accelerate PUMA India’s growth and play a crucial role in turning our global strategic priorities into regional success.”
Ramprasad Sridharan’s Career Snapshot
A seasoned retail and footwear industry leader, Sridharan brings over two decades of experience across global and Indian markets. Before joining Benetton in June 2021, he spent more than a decade with Clarks, where he rose to become President, South East Asia, Australia & New Zealand, after serving in key roles across marketing, digital, strategy, and channel development in APAC and the UK.
Earlier, he served as CEO of Clarks India (2010–2016) and CEO of Lerros Fashions India Ltd (2008–2010). His career began with Reebok India, where he worked for nearly nine years and rose to the position of Director – Sales & Retail.
Challenges & Opportunities Ahead for PUMA India
PUMA globally has faced a challenging 2025, reporting a double-digit sales decline due to currency fluctuations, high retailer inventory, and heavy discounting, which have affected brand desirability. The company is undergoing a major restructuring, aiming to cut about 13% of global jobs by the end of 2026 and streamline its operations by scaling down partnerships with discount retailers.
Despite global headwinds, India continues to stand out as a growth market for PUMA. The brand has made steady gains in direct-to-consumer (DTC) sales through its own stores and online channels, which now form a growing share of overall revenue.
As per media reports, PUMA is also investing heavily in grassroots sports initiatives, marquee running events, and locally relevant product innovation to strengthen its connect with India’s rapidly expanding sports and fitness community.
With his extensive leadership experience across global brands, Sridharan is expected to guide PUMA India through a transition phase in 2026, setting the stage for a strong recovery and growth trajectory by 2027, backed by India’s expanding sportswear and athleisure market.
