Archive · 31 Oct 2025
Puma India Appoints Ramprasad Sridharan as New MD
A new boss is coming to lead Puma's business in India.
His name is Ramprasad Sridharan, and he used to be in charge of Benetton India.
Puma is a big sports clothing company, and India is a very important market for them.
The boss before him, Karthik Balagopalan, decided to leave to spend more time with his family.
This is happening at a time when many companies selling sports clothes are facing tough competition from both big names like Adidas and newer brands.
It's also a busy time in the Indian retail industry, with other companies also making leadership changes.
The Indian market for sports goods is growing quickly and is expected to be worth even more in the future, but this also means more companies are competing for customers.
Ramprasad Sridharan, formerly of Benetton India, is expected to become the new managing director of Puma India.
Sridharan will replace Karthik Balagopalan, who recently resigned to prioritize family matters.
Puma India operates in a highly competitive market with rivals like Adidas and Skechers, as well as emerging brands.
The Indian sports goods and apparel market is valued at $6.7 billion and is projected to reach $10 billion by 2030.
Puma India's revenue increased by 10.5% in calendar year 2023, reaching ₹3,262.08 crore, though profits saw a significant decrease.
- Who
- Ramprasad Sridharan, former MD & CEO of Benetton India
- What
- Is set to take over as managing director of Puma India
- When
- This week (Karthik Balagopalan stepped down)
- Where
- India
- Why
- Karthik Balagopalan stepped down to focus on family priorities in Germany.
Challenges for New Management
Factors Driving Competition
Market Competition
Challenges for New Management
Intensifying competition from established rivals like Adidas and Skechers, as well as new brands, presents a challenge for the new management.
Factors Driving Competition
The rapid pace of innovation, disruption, and complex business models are driving competition and the need for agile leadership.
Market Dynamics
Challenges for New Management
Securing shelf space and effective branding are key challenges for newcomers in a crowded retail environment.
Factors Driving Competition
The growth of the Indian sports apparel market, with increasing online and offline expansion by both international and homegrown brands, fuels competition.
- New MD of Puma India
- Ramprasad Sridharan
- Previous Role of Sridharan
- MD & CEO of Benetton India
- Puma India Revenue (CY 2023)
- ₹3,262.08 crore
- Puma India Profit (CY 2023)
- ₹17.28 crore
- Indian Sports Goods Market Size
- $6.7 billion