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Sportswear retailer Puma has appointed Karthik Balagopalan (42) as the new Managing Director of PUMA India. He earlier served as Global Director Retail and e-commerce at the company.
He will succeed Abhishek Ganguly, who worked for PUMA’s Indian business for 17 years and has been the Managing Director of PUMA India since 2014. Ganguly is set to pursue a career as an entrepreneur in his own venture, the company said.
Balagopalan will report to Puma CEO Arne Freundt and will be based in Bengaluru. “He will start in his new role on August 1, 2023. Abhishek will remain at PUMA until the end of August to ensure a smooth transition,” the company added.
Balagopalan has been with the company since 2006. Prior to leading PUMA’s global DTC business, he held management positions in retail operations and business development at Puma India.
“His local knowledge, relevant experience in the direct-to-consumer business across all channels combined with exposure to global business and headquarter functions makes him the ideal candidate for managing the important Indian market,” the statement said.
India has been one of the fastest-growing markets for the brand.
CEO Freundt said, “India is a vibrant market, where Puma has been the No. 1 brand for many years. With the appointment of Karthik, we will write the next chapter of this very successful story. I would like to thank Abhishek for his energy and commitment over the past 17 years and wish him all the best for his future as an entrepreneur.”
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