Achint Setia named Snapdeal CEO, Himanshu Chakrawarti to lead Stellaro Brands
By MYBRANDBOOK
AceVector Limited has announced two key leadership changes aimed at driving growth within its portfolio. Achint Setia has been appointed as the new CEO of Snapdeal, while Himanshu Chakrawarti will transition to the CEO role at Stellaro Brands, a subsidiary under the AceVector umbrella.
Chakrawarti, who has been leading Snapdeal and Stellaro Brands for the past three years, will now focus on scaling Stellaro Brands, leveraging his extensive background in retail and brand development. With over 30 years of experience, Chakrawarti has worked with prominent companies like Trent, Arvind, and the Landmark Group.
Setia, who brings nearly two decades of expertise in e-commerce, marketing, strategy, and technology, will now head Snapdeal. Before joining AceVector, Setia served as the Chief Revenue and Marketing Officer at Zalora Group in Singapore. He has also held leadership positions at Myntra, Viacom18, McKinsey & Co, and Microsoft, where he helped drive business transformation and innovation.
AceVector’s co-founders, Kunal Bahl and Rohit Bansal, expressed confidence that Chakrawarti’s leadership will propel Stellaro Brands forward, while Setia’s broad experience will enhance Snapdeal’s growth trajectory.
Snapdeal, founded in 2010 by Bahl and Bansal, has raised over $1.5 billion from major investors like SoftBank, Alibaba, and Foxconn. The company generates significant revenue from ancillary services, including fulfilment centres, courier facilitation, and warehousing software for merchants. In 2022, Snapdeal and its subsidiaries, including Stellaro Brands and Unicommerce, came together under AceVector, a group that focuses on innovative distribution channels and digital-first brands.
On the financial front, AceVector saw a 31% drop in operating revenue in FY23 to INR 372 crore, although its losses narrowed by 44.7%, demonstrating progress despite the challenges.
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