When you're done customizing styles, select the down arrow in the Themes group, and then select Save Current Theme. Select Colors, Fonts, Effects, or Background Styles and choose from built-in options or customize your own. Select your first slide, and then on the Design tab, select the down arrow in the Variants group. You can create a custom theme by modifying an existing theme or by starting from scratch with a blank presentation. Select right arrow in the Variants group to select different Colors, Fonts, Effects, or Background Styles and choose from built-in options or customize your own.
Note: If you don't see any variants, it could be because you're using a custom theme, an older theme designed for earlier versions of PowerPoint, or because you imported some slides from another presentation with an older or custom theme.