India’s multi-billion dollar retail industry (expected to grow to nearly $2 trillion by 2030) is mostly unorganized. Nevertheless, it has continued to grow and evolve over the years as technology has come to its aid – India’s organized retail market grew by nearly 50% between 2012 and 2020.
Now India’s retail sector will see some of its leading businesses, which have grown and grown tremendously with the evolution of India’s online retail ecosystem, being part of a single group brand. and operate as such. Going forward, the AceVector Group will have Snapdeal, integrated retail technology SaaS platform Unicommerce and House of Brands Stellaro Brands as part of it.
In a LinkedIn post, Snapdeal co-founder Kunal Bahl shared the same story, adding that AceVector Group will combine innovation in distribution channels, digital-first consumer brands and SaaS platforms.
Snapdeal itself has had a rather tumultuous ride. Along with Flipkart, Snapdeal was also catapulted to peak in the early days of India’s startup ecosystem. However, with Amazon entering the fray and an untold pool of money coming in, Snapdeal’s business plummeted. The lack of additional fundraising has meant that Snapdeal has gone through some of the worst times in its history since its inception, having to cut operations, make layoffs and pivot its entire business model.
Things got better, however, when Bahl announced a “Snapdeal 2.0”. He wrote about the same in detail in an editorial on The technical portal. You can read the same here.
So why this consolidation now? Bahl emphasized saying, “Given the scale already achieved by these individual businesses and the size of the opportunities that lie ahead, it is appropriate for us to formalize a group structure that highlights the broader range of opportunities we pursue as a business along with the distinct nature of each business, beyond our e-commerce marketplace – Snapdeal.
Just because they are part of a group company does not mean that there will be changes in the management of the three brands. Snapdeal and Stellaro Brands will continue to be led by its Chairman, Himanshu Chakrawarti and his management team, while CEO Kapil Makhija and his management team will continue to support Unicommerce.
This brings us to the next question, how will these three companies contribute to the success of the AceVector group? All three are strong players in their own right, having carved out a niche in the market and withstood intensifying competition. Snapdeal requires no introduction, serving quality products without burning customers’ pockets, having a presence beyond metropolitan cities, and growing like clockwork.
Unicommerce’s SaaS solutions help brands manage automated, paperless warehouse operations and sell in multiple marketplaces, and enable retailers to deliver a unified shopping experience to end consumers who interact with the brand in a omnichannel world. Processing more than 450 million orders annually, it operates in 14 countries and has 2,000 stores, 7,000 installations and 160 network integrations under it. Like Snapdeal, it recorded strong growth (100% enterprise customers in FY22).
By coming to Stellaro Brands, she develops brands that offer high-quality, more user-friendly products (the perfect choice for budget-conscious customers).
Stellaro builds these products based on consumer information, which is gathered through live chat, customer feedback, and the use of data science and analytics to understand what they want and what they need through their online behavior.
Snapdeal, Unicommerce and Stellaro merged into one group, “AceVector”
Source link Snapdeal, Unicommerce and Stellaro merged into one group, “AceVector”