Puma India’s MD Abhishek Ganguly to leave the company with two other top executive to start their own venture

Three top executives at Puma India, the company’s managing director, Abhishek Ganguly, chief financial officer, Amit Prabhu, and head of sales and operations Atul Bajaj, have resigned from the sportswear to start their own venture.

It has been reported that Karthik Balagopalan, who has worked with Puma and is currently in its home market Germany, is likely to take over Puma India, revealed by the two people aware of the development.

Ganguly joined the Indian unit of the global footwear and apparel company in the year 2005 and almost a decade later, he became its MD. Under him, Puma’s sale rose by five time, from Rs 600 crores to Rs 3000 crores. The IIM alumni also had an aggressive store expansion strategy, which helped him increase number of outlets from 150 to 480 outlets in nine-year stint.

It has been reported the Economic Times that Ganguly, along with the other two ex-authorities at Puma, will be starting their own athleisure brand.

Over the past few years, increasing awareness about fitness have helped the segment in increasing its sale. Moreover, with rise in travel, people have been spending more time in casual wear.

During 2022 calendar year, Puma posted a 46% jump in sales in India, with its revenue at Rs 2980 crore, outselling its rival competitors Adidas, Nike, and Reebok combined.