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AceVector appoints new CEOs for Snapdeal and Stellaro Brands

Entrackr · 5d

AceVector Limited (the holding company of Snapdeal) has made two leadership appointments. Achint Setia will be leading Snapdeal, India's leading value e-commerce platform, as its Chief Executive Officer. Himanshu Chakrawarti will transition to the role of Chief Executive Officer of Stellaro Brands (a subsidiary of AceVector Limited). Himanshu Chakrawarti has led Snapdeal and Stellaro Brands over the last three years and will focus exclusively on driving growth at Stellaro. Setia brings nearly twenty years of diverse experience in building new businesses, marketing, strategy, M&A, and technology, spanning e-commerce, media, telecom, and government services. He joined the company from Zalora Group (Singapore), where he served as the chief revenue and marketing officer. In his previous roles, Setia has held leadership roles at Myntra, Viacom18, McKinsey & Co., and Microsoft. In June 2022, Snapdeal announced the formalization of a group structure—AceVector Group—to house all its businesses, which include Snapdeal, Unicommerce, and Stellaro Brands. Snapdeal’s revenue from operations increased by 2.1%, rising to Rs 379.76 crore in FY24 from Rs 371.96 crore in FY23. The company’s adjusted EBITDA loss also dropped by 88% to Rs 16 crore in the last fiscal year.