AceVector, the parent company of brands like Snapdeal, has announced and appointed Achint Setia as the new CEO of Snapdeal and Himanshu Chakrawarti for the Stellaro Brands in January 2025. Both are subsidiaries of the AceVector Limited. AceVector Limited is a public company established in September 2007. AceVector Limited operates in categories such as fashion, beauty, home and personal care products. In June 2022, AceVector formally established its group structure, which included all of its companies, including Stellaro Brands, Snapdeal, and Unicommerce.
Achint Setia as Snapdeal’s New CEO
Throughout his long career of 20 years, Achint Setia has held executive roles at Microsoft, Viacom18, McKinsey & Co., and Myntra. Achint Setia’s last stint was at Zalora Group in Singapore as chief revenue and marketing officer. Achint Setia completed the prestigious Stanford Graduate School of Business LEAD program in Corporate Innovation and holds an MBA in Strategy & Finance from the Indian School of Business. In line with Snapdeal’s objective of offering Indian consumers value-driven e-commerce solutions, Achint Setia’s leadership is anticipated to contribute creative tactics and a customer-focused mindset. Achint Setia’s leadership is expected to contribute creative tactics and a customer-centric mindset in keeping with Snapdeal’s mission to offer Indian consumers value-driven e-commerce solutions.
Himanshu Chakrawarti as Stellaro Brands’ CEO
With over 30 years of retail experience, Himanshu Chakrawarti is a seasoned professional. He has occupied executive roles at prominent businesses like Trent, Arvind, and the Landmark Group. Himanshu Chakrawarti has been pivotal in leading Stellaro Brands and Snapdeal in recent years. Himanshu Chakrawarti can leverage his extensive retail experience to grow Stellaro’s market share. Chakrawarti’s strategic vision and ability to drive growth in competitive markets have distinguished his career. His focus on Stellaro Brands is expected to boost the company’s standing in the clothing industry.
Future prospects of AceVector’s subsidiaries
Snapdeal’s operating revenue climbed from ₹371.96 crore in FY23 to ₹379.76 crore in FY24, a 2.1% increase. In the previous fiscal year, the company’s adjusted EBITDA loss dropped by 88% to ₹16 crore. Also, Stellaro’s CEO, Himanshu Chakrawarti, is well-positioned to leverage his extensive retail experience. Chakrawarti’s strategic priorities will likely include scaling operations, improving customer experiences, and expanding the brand portfolio.
