Puma India is set to appoint former Benetton India Managing Director and CEO Ramprasad Sridharan as its new head, according to media reports. The appointment follows the departure of Karthik Balagopalan, who stepped down from his position as Managing Director to focus on family commitments in Germany.
The leadership transition comes at a pivotal juncture for Puma globally, as the sportswear major contends with a challenging 2025 marked by a double-digit decline in sales. The downturn has been attributed to currency headwinds, elevated retailer inventories, and discount-led market pressures. In response, the company has launched a large-scale restructuring initiative aimed at reducing its global workforce by approximately 13% by 2026 and tightening its partnerships by limiting collaborations with discount retailers.
Sridharan, a seasoned professional with over two decades of experience in the global retail and footwear industry, has held senior leadership roles across several prominent brands. Before joining Benetton in June 2021, he spent more than a decade at Clarks, where he rose to become President for South East Asia, Australia, and New Zealand, after serving in key positions in marketing, digital, strategy, and channel development across the APAC and UK markets. His previous roles include CEO of Clarks India (2010–2016) and CEO of Lerros Fashions India Ltd (2008–2010). Sridharan began his career at Reebok India, where he spent nearly nine years and advanced to the role of Director – Sales & Retail.
Despite global headwinds, India continues to be a growth engine for Puma. The brand has recorded steady expansion, driven by strong direct-to-consumer performance across retail stores and digital platforms. It has also intensified investments in grassroots sports programmes, marquee running events, and product innovation tailored to Indian consumers.
Industry observers expect Sridharan’s appointment to mark a period of strategic consolidation and renewed focus for Puma India. With his extensive experience in driving growth for international brands in diverse markets, he is anticipated to steer the company through a crucial transition in 2026 and lay the groundwork for renewed growth and market leadership by 2027, capitalising on the momentum of India’s fast-growing sportswear and athleisure segment.
