AceVector Limited Announces New Leadership Appointments
AceVector Limited, the parent company of Snapdeal, has recently appointed two key leaders within its organisation. Achint Setia is set to take on the role of Chief Executive Officer (CEO) of Snapdeal, India’s premier value e-commerce platform. Himanshu Chakrawarti will be assuming the position of CEO for Stellaro Brands, a subsidiary of AceVector Limited.
Himanshu Chakrawarti has successfully managed both Snapdeal and Stellaro Brands over the past three years. He will now channel his efforts solely towards driving growth at Stellaro Brands.
Achint Setia brings almost two decades of extensive experience in business development, marketing, strategy, mergers and acquisitions, and technology. His background includes diverse sectors such as e-commerce, media, telecommunications, and government services. Setia joined the AceVector team from Zalora Group in Singapore, where he served as the Chief Revenue and Marketing Officer.
Setia’s impressive previous positions include:
- Leadership roles at Myntra
- Viacom18
- McKinsey & Co.
- Microsoft
In June 2022, Snapdeal announced the establishment of a group structure known as AceVector Group, which encompasses all its business operations, including Snapdeal, Unicommerce, and Stellaro Brands.
Snapdeal has reported a 2.1% increase in revenue from operations, rising to Rs 379.76 crore in FY24 from Rs 371.96 crore in FY23. Additionally, the company’s adjusted EBITDA loss has significantly decreased by 88%, bringing it down to Rs 16 crore in the last fiscal year.