Puma names K Balagopalan as managing director for India
Sportswear and accessories brand Puma has named Karthik Balagopalan as its managing director for India. Balagopalan previously held the role of global director of retail and e-commerce and will replace Abhishek Ganguly in his new role.
“Karthik will start in his new role on August 1, 2023,” said Puma in a statement, the Press Trust of India reported. “Abhishek will remain at Puma until the end of August to ensure a smooth transition.”
Ganguly has worked for Puma’s Indian business for around 17 years and is now leaving Puma to pursue his own entrepreneurial venture. In his new role, Balagopalan will report to Puma’s CEO Arne Freundt and he will be based in Bengaluru.
“India is a vibrant market, where Puma has been the number one brand for many years,” said Freundt, the Economic Times reported. “With the appointment of Karthik, we will write the next chapter of this very successful story.” Freundt thanked Ganguly for his 17-year contribution to the business and wished him well for the future.
Balagopalan has worked for Puma since 2006 and has held a number of management positions in the business, including in business development and retail operations, as well as heading its direct-to-customer segment. Puma reported sales of Rs 2,980 crore in the 2023 financial year.
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