AceVector Limited has re-appointed Kasaragod Ullas Kamath as an Additional Non-Executive Independent Director for a second five-year term. The appointment is effective from October 18, 2026, subject to approval by shareholders at the ensuing Annual General Meeting.

The decision was taken by the Board of Directors through a resolution passed by circulation on October 17, 2026, following the recommendation of the Nomination and Remuneration Committee. This move ensures continuity in board leadership for the company.

Director profile and experience

Kasaragod Ullas Kamath serves as the Chairperson of the Board and is an Independent Director. He brings over 28 years of professional experience across various sectors. His educational background includes a bachelor's degree in law from the University of Mysore and a master's degree in commerce from Kakatiya University. He also holds a master's degree in management from the London School of Economics and Political Science.

Kamath has completed advanced management programs at the Wharton School (University of Pennsylvania) and Harvard Business School. He is a certified fellow of the Institute of Chartered Accountants of India and an associate member of the Institute of Company Secretaries of India.

Professional background

His career highlights include serving as the joint managing director of Jyothy Labs Limited. He is the founder of M/s. UK & Co., Advisors: Family Business, a partnership firm. Additionally, he serves as an independent director on the board of Unicommmerce eSolutions Limited, a listed subsidiary of AceVector. Kamath previously served as the chairperson for FICCI Karnataka State Council and currently acts as a mentor for the same body.

Governance disclosures

The company confirmed that Kamath has no relationship with any other director of the company. He is not debarred from holding the office of director by any regulatory authority. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

AceVector Limited announced that Snapdeal's Swagotsav sale, which began on October 4, 2026, witnessed a 59% increase in fashion unit sales compared to the previous year. The festive period also saw a 63% year-on-year rise in the number of buyers for fashion products, driven largely by Gen Z shoppers.

The company disclosed this update under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The performance highlights a surge in demand for both contemporary Western wear and traditional ethnic attire, with sales of women's Western wear and salwar suits doubling during the measured period.

Seller participation and geographic reach

The marketplace saw significant expansion in its seller base, with active transacting sellers in the fashion category increasing by 94% year-on-year. New sellers from smaller cities recorded triple-digit growth, contributing to the platform's broader reach across India. Cities such as Bhilwara, Meerut, Hosur, Kota, Amroha, Alwar, and Solapur were among those driving this momentum.

A key indicator of the sale's depth was the geographic distribution of orders. 82% of orders originated from outside metropolitan areas, reinforcing Snapdeal's position as a value-fashion marketplace serving consumers across Bharat. Additionally, prepaid orders doubled during the sale period, indicating heightened consumer confidence and transactional velocity.

Project Gati and strategic initiatives

Ahead of the festive season, Snapdeal implemented Project Gati, a 45-day acceleration programme designed to assist first-time sellers in preparing for festive demand surges. The initiative provided training, AI upgrades, free advertising credits, analytics sharing, and shorter working capital cycles to enhance seller readiness.

Achint Setia, CEO of Snapdeal, noted that Gen Z shoppers are increasingly prioritising style and personality over functional value alone. "We have organised Swagotsav around this shift, bringing together affordable, trend-led choices that help consumers create their festive looks without stretching their budgets," Setia said.

What the numbers show

The simultaneous 94% growth in active sellers and 63% growth in buyers suggests a healthy supply-demand equilibrium rather than a demand spike outstripping inventory availability. This balanced expansion is critical for marketplace sustainability, as it prevents stockouts while ensuring sellers have adequate liquidity. Furthermore, the fact that 82% of orders came from non-metro regions indicates that the growth is not concentrated in high-penetration urban markets but is driven by deeper digital adoption in Tier-2 and Tier-3 cities, aligning with the company's strategy to capture value-conscious shoppers beyond metros.