PUMA's India & South East Asia MD Abhishek Ganguly resigned

New Delhi: PUMA's India & South East Asia MD Abhishek Ganguly has resigned after serving over 17 years with the German footwear and apparel multinational, said industry sources.

Ganguly will leave the company in August, after which he has plans to start his venture in the sportswear ecosystem.

Karthik Balagopalan, who is presently in Germany with the parent firm PUMA SE as Senior Manager of Growth Markets, would take over from Ganguly, sources added.

Ganguly joined PUMA India as Director - Sales & Marketing in 2005 and later became its Managing Director in September 2014.

In 2022, he was also given charge to lead PUMA's South East Asia business.

During his leadership, PUMA witnessed multifold growth - from being a Rs 500 crore company to Rs 2,980 crore in 2013 - outpacing rivals such as Adidas, Nike and Reebok.

PUMA sales in India are now more than the combined sales of three rival multinationals - Adidas, Nike and Reebok.

According to the sources, in 2023 PUMA India may cross Rs 4,000 crore turnover.

An email query regarding the developments remained unanswered by Puma by the time of the filing of the story.

Over the last few years, especially after the pandemic, there is increasing awareness about fitness. This has helped in surging demand for athleisurewear.