PUMA INDIA on Tuesday announced that Karthik Balagopalan, the sportswear major’s managing director, was moving on.
Per a statement issued by Puma, Balagopalan has decided to step down “to focus on family priorities in Germany”.
While wishing him “all the best”, the company stated that a successor will be announced “soon”.
Balagopalan was appointed MD in May 2023, replacing Abhishek Ganguly, who had led Puma India for nearly a decade before moving on to set up sports apparel brand Agilitas Sports.
Balagopalan has been with Puma since 2006, and took over the India business after serving as the brand’s global director of retail and e-commerce. Over his nearly two-decade tenure, he held key management roles across retail operations and business development, both in India and globally. His leadership experience in direct-to-consumer strategy and deep understanding of the Indian market positioned him well to steer Puma’s growth in one of its most dynamic regions.
His departure marks the end of a significant chapter for Puma India, during which the company expanded its retail presence and reinforced its position as one of the country’s leading sportswear brands.
