Puma India resets under new MD, pruning stores and shifting focus to value, running and local sourcing
Under MD Ramprasad Sridharan, Puma India is closing unprofitable outlets, reducing discount dependence and expanding its running, hybrid fitness and cricket-led offer. The brand operates about 400 stores, gets roughly half of sales online and now makes about 75% of products in India.
What happened
Puma India is resetting under new MD Ramprasad Sridharan, closing unprofitable stores, reducing discount-led sales and prioritising value, running, hybrid
Key facts
- Revenue of about ₹3,200 crore
- Slightly under 11 million footwear pairs sold in FY26
- Running accounts for almost 30% of retail-store sales
- About 400 stores in India
- Roughly 20-25 stores shut during the reset
- Online contributes roughly 49%-51% of business
- About 75% of products are made in India, up from 49% in 2023
- RCB business grew 75% this year
- RCB reached 1.8 billion viewers across 30 countries
Why this matters
Puma’s India strategy elevates the value of partnerships or acquisitions that deepen local manufacturing, cricket credibility, running communities and digital-led customer acquisition rather than simply adding retail doors.
What to watch
- Comparable-store sales and total store count versus operating-margin trend over the next 2-4 quarters.
- Average selling price, markdown rate and full-price sell-through on Puma India’s digital marketplaces.
- Running, training and cricket share of sales relative to lifestyle footwear.
- Inventory turns, stock-out rates and product launch lead times following higher local production.
- Competitor response from Adidas, Nike, Skechers, Asics, New Balance and domestic sportswear brands on price, running distribution and cricket endorsements.
- Evidence that local sourcing improves product differentiation and availability rather than simply lowering procurement cost.
- Concentrate new store investment in high-productivity mall, high-street and tier-2 city locations while converting marginal outlets to digital-assisted formats.
- Expand India-specific running, hybrid training and cricket capsules, including regional athlete and grassroots-sport partnerships.
- Use local sourcing to introduce faster product refreshes, smaller test buys and replenishment of proven styles.
- Tighten marketplace discount controls and shift promotions toward member benefits, bundles and category events rather than blanket markdowns.
- Increase online-to-offline integration through inventory visibility, click-and-collect and store-enabled fulfillment.
- Build a local supplier base for performance materials and footwear components to protect quality as localization rises.