SUMMARY
- Achint Setia appointed Snapdeal CEO, Himanshu Chakrawarti to focus on Stellaro Brands’ expansion after leading both companies.
- Setia brings two decades of expertise, previously serving as Zalora Group’s Chief Revenue and Marketing Officer in Singapore.
- Snapdeal’s FY24 revenue grew 2.1% to ₹379.76 crore, while adjusted EBITDA loss reduced significantly by 88% to ₹16 crore.
Snapdeal‘s parent company, AceVector Limited, has appointed two new executives. As its CEO, Achint Setia will be in charge of Snapdeal, the top-value e-commerce site in India. The position of Himanshu Chakrawarti will be replaced as CEO of Acevector Limited’s subsidiary, Stellaro Brands. Himanshu will only concentrate on accelerating expansion at Stellaro after leading Snapdeal and Stellaro Brands for the previous three years.
With nearly two decades of varied expertise in e-commerce, media, telecom, government services, marketing, strategy, M&A, and technology, Setia brings a wealth of knowledge to the table. Prior to joining the organization, he was the chief revenue and marketing officer of Zalora Group (Singapore). Prior to this, Setia was a leader at Microsoft, McKinsey & Co., Viacom18, and Myntra.
Snapdeal declared in June 2022 that it has formally established the AceVector corporate as a corporate structure to house all of its companies, including Stellaro Brands, Unicommerce, and Snapdeal.
From ₹371.96 crore in FY23 to ₹379.76 crore in FY24, Snapdeal’s operating revenue grew by 2.1%. Additionally, the company’s adjusted EBITDA loss for the most recent fiscal year decreased by 88% to ₹16 crore.
