Puma India’s Premium Pivot: New MD Ramprasad Sridharan’s Strategy

Puma India is embarking on a significant strategic overhaul, moving away from a discount-heavy model to prioritize premium products and core sports categories under its new managing director, Ramprasad Sridharan. This transformation involves a consolidation of operations, aiming for a superior customer experience.

The company is closing approximately 20-25 unprofitable stores, shifting focus to fewer, larger outlets. This move underpins a broader strategy to compete on value and product quality, rather than being the cheapest option in the market.

Strategic Focus Areas

• Running: Emerged as Puma’s largest category, contributing nearly 30% of retail sales.
• Sports Style: A core segment for brand identity and consumer engagement.
• Hybrid Fitness: A major investment area, bolstered by Puma’s global partnership with Hyrox.
• Team Sports: Leveraging partnerships like Royal Challengers Bengaluru (RCB) to cultivate a stronger ‘jersey culture’ in India.

The partnership with Royal Challengers Bengaluru has proven highly successful, with RCB merchandise sales growing by 75%. This initiative reached an audience of 1.8 billion viewers across 30 countries, highlighting the potential for team sports in the Indian market.

Key Financial Numbers

• Revenue in FY26: approximately ₹3,200 crore.
• Footwear sold: just under 11 million pairs.
• Online sales consistency: between 49% and 51% of the business.
• Local manufacturing increase: 75% of products now produced in India, up from 49% in 2023.

Puma India aims to provide Indian consumers with simultaneous access to its global product lines. This strategic shift underscores a commitment to premium offerings and localized production, setting a new trajectory for the brand’s presence in India.