Snapdeal’s parent company, Acevector Limited, announced on Wednesday that Achint Setia has been named as its new CEO. The company announced in a statement that Himanshu Chakrawarti, its current CEO, has moved to the position of CEO of Stellaro Brands, an Acevector subsidiary that owns clothing brands like Rangita.
According to the firm, Chakrawarti, who has effectively led Stellaro Brands and Snapdeal for the past three years, will only concentrate on accelerating expansion at Stellaro. Setia previously served as Chief Revenue and Marketing Officer at Zalora Group (Singapore).
Setia, an ISB-MBA graduate, has worked for Microsoft, McKinsey & Co., Viacom18, Myntra, and other organisations for more than 20 years.
Kunal Bahl and Rohit Bansal, co-founders of AceVector Limited stated in a press note that the company has made significant strides under Himanshu’s direction across both the Snapdeal and Stellaro Brands, and this change enables the team to take advantage of his knowledge by concentrating on Stellaro’s expansion. Achint’s broad background in media, technology, e-commerce, and brand development will greatly enhance his position as CEO of Snapdeal and be crucial in assisting the company as it expands.
In August of last year, Snapdeal-backed Unicommerce went public on stock exchanges, offering the cash-strapped e-commerce platform up to four times its investment returns. According to reports, the business was also the subject of an MCA investigation into its ownership structure and potential Chinese financing.