PUMA India Set to Appoint Former Benetton MD Ramprasad Sridharan as Country Head

Global sportswear brand PUMA is preparing to name Ramprasad Sridharan, former Managing Director and CEO of Benetton India, as its new country head, according to industry sources. The appointment follows the departure of Karthik Balagopalan, who stepped down to focus on family commitments in Germany.

Sridharan brings over two decades of experience in the global retail and footwear industry, having held senior leadership roles across multiple international brands. Before leading Benetton India from 2021, he spent more than ten years at Clarks, where he rose to become President for South East Asia, Australia, and New Zealand. His earlier stints include serving as CEO of Clarks India (2010–2016) and CEO of Lerros Fashions India (2008–2010). He began his career at Reebok India, spending nearly nine years with the company and advancing to Director – Sales & Retail.

The leadership transition comes as PUMA faces a turbulent global environment in 2025, with the company grappling with double-digit sales declines attributed to currency fluctuations, high retailer inventories, and heavy discounting. In response, PUMA has initiated a major restructuring plan aimed at cutting around 13% of its global workforce by 2026 and tightening its partnerships with discount retailers.

Despite these global headwinds, India continues to be a strong growth market for the brand. PUMA has maintained steady expansion in the country, driven by robust direct-to-consumer sales across its retail and digital channels. The company has also ramped up investments in grassroots sports initiatives, marquee running events, and product innovation tailored to Indian consumers.

Sridharan’s appointment is expected to help steer PUMA India through a key transition phase in 2026, with a focus on consolidating market leadership and accelerating growth in India’s fast-expanding sportswear and athleisure segment.