Acevector Limited, the parent company of Snapdeal, on Wednesday said it appointed Achint Setia as its new Chief Executive Officer (CEO).
In a statement, the company said its existing CEO Himanshu Chakrawarti has transitioned to the role of the CEO of Stellaro Brands, a subsidiary of Acevector, which houses apparel brands like Rangita.
Chakrawarti, who has successfully led Snapdeal and Stellaro Brands over the last three years, will focus exclusively on driving growth at Stellaro, the company said.
Earlier, Setia worked at Zalora Group (Singapore) in his role as Chief Revenue and Marketing Officer. An ISB-MBA graduate, Setia has over two decade of experience across companies like Myntra, Viacom18, McKinsey & Co., and Microsoft.
“Under Himanshu’s leadership, we have seen remarkable progress across Snapdeal and Stellaro Brands, and this transition allows the group to benefit from his experiences by focusing on Stellaro’s growth. Achint’s extensive experience in ecommerce, media, technology, and brand building will add great value to his role as the CEO of Snapdeal and will be instrumental in supporting the business on its growth trajectory,” said Kunal Bahl and Rohit Bansal, co-founders of AceVector Limited in a press note.
Snapdeal-backed Unicommerce listed on bourses in August last year, providing the cash crunch ecommerce marketplace with as much as 4X returns on its investment.
Reports also said the company was involved in an MCA probe on its ownership structure and possible investment from Chinese firms.
