Puma set to name Ramprasad Sridharan as new India head, succeeding Karthik Balagopalan

Puma India is set to appoint Ramprasad Sridharan, the former chief executive of Benetton India, as its new managing director, marking a key leadership transition as it looks to strengthen its position in one of the world’s fastest-growing sportswear markets.

As per industry reports, Sridharan is set to succeed Karthik Balagopalan, who stepped down earlier this month after leading the brand’s India operations for about a year. Balagopalan, a long-time Puma executive, is returning to Germany to focus on personal priorities, the company had earlier announced.

The appointment signals Puma’s intent to deepen its focus on lifestyle and fashion-led growth, areas where Sridharan brings deep experience. At Benetton, he oversaw the Italian brand’s turnaround strategy in India, emphasizing product localization, supply-chain agility, and direct-to-consumer expansion.

India remains a bright spot for Puma globally. The German sportswear giant has consistently reported double-digit growth in the country, fueled by rising urban demand for athleisure, the expansion of its retail footprint, and strong digital sales. But the market is also becoming more competitive, with Nike, Adidas, Skechers, and Decathlon all vying for share in a crowded category.

Sridharan’s challenge will be to sustain Puma’s momentum while adapting to changing consumer preferences and a cooling discretionary spending environment. His background in fashion retail is expected to help Puma bridge the gap between sports performance and streetwear style—an increasingly important space for global brands in India.