<p>German footwear and apparel major <a href="https://www.deccanherald.com/tag/puma" target="_blank">Puma </a>on Thursday said it has appointed its Global Director of Retail and e-Commerce Karthik Balagopalan as the new Managing Director for India.</p>.<p>Balagopalan (42) will replace Abhishek Ganguly, who worked for Puma's Indian business for 17 years and has been the Managing Director of Puma India since 2014.</p>.<p>He will report to Puma CEO Arne Freundt and will be based in Bengaluru.</p>.<p>Ganguly leaves Puma to pursue a career as an entrepreneur in his own venture, said a statement.</p>.<p>"Karthik 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," it added.</p>.<p>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".</p>.<p>He also thanked Ganguly for his contribution over the past 17 years and wished him for his future as an entrepreneur.</p>.<p>Balagopalan has been with Puma since 2006. Prior to leading Puma’s global DTC business, he held management positions in retail operations and business development.</p>.<p>During Ganguly's leadership, Puma witnessed multi-fold growth - from being a Rs 500 crore company to Rs 2,980 crore in 2023 - outpacing rivals such as Adidas, Nike and Reebok.</p>.<p>Puma sales in India are now more than the combined sales of three rival multinationals - Adidas, Nike and Reebok.</p>
<p>German footwear and apparel major <a href="https://www.deccanherald.com/tag/puma" target="_blank">Puma </a>on Thursday said it has appointed its Global Director of Retail and e-Commerce Karthik Balagopalan as the new Managing Director for India.</p>.<p>Balagopalan (42) will replace Abhishek Ganguly, who worked for Puma's Indian business for 17 years and has been the Managing Director of Puma India since 2014.</p>.<p>He will report to Puma CEO Arne Freundt and will be based in Bengaluru.</p>.<p>Ganguly leaves Puma to pursue a career as an entrepreneur in his own venture, said a statement.</p>.<p>"Karthik 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," it added.</p>.<p>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".</p>.<p>He also thanked Ganguly for his contribution over the past 17 years and wished him for his future as an entrepreneur.</p>.<p>Balagopalan has been with Puma since 2006. Prior to leading Puma’s global DTC business, he held management positions in retail operations and business development.</p>.<p>During Ganguly's leadership, Puma witnessed multi-fold growth - from being a Rs 500 crore company to Rs 2,980 crore in 2023 - outpacing rivals such as Adidas, Nike and Reebok.</p>.<p>Puma sales in India are now more than the combined sales of three rival multinationals - Adidas, Nike and Reebok.</p>