Kiren Tanna, co-founder and chief executive officer of Singapore-based e-commerce aggregator Una Brands, has announced his departure from the company after four years at the helm.
In a social media post, Tanna said Cho Weihao, the company’s chief financial officer for the past three years, will assume the role of CEO.
The leadership change comes as Una Brands shifts its focus from acquisitions to maintaining profitability and targeted investments from sustainable growth.
“As I step away from day-to-day operations, I am excited to see where Una Brands goes next. Una is in great hands, and I have no doubt it will continue to thrive with the backing of our great investors,” Tanna said.
Under Tanna’s leadership, Una Brands acquired over 20 digital brands across Asia-Pacific, including ergonomic furniture maker Ergotune, and grew its annualized revenue run rate to $70 million.
The journey has not been without its challenges, Tanna said, as global credit tightened and COVID-driven growth waned.
“The Amazon aggregator business model was not as hot as when we started, but the team had the foresight to slow acquisitions and optimize spending to achieve profitability,” Tanna said.
Tara said he would take time off to focus on his family while exploring new ventures at the intersection of consumer technology and artificial intelligence.
He also plans to work as an advisor to startups on company building, fundraising, and scaling strategies.
Incorporated in 2020, Una Brands hosts different direct-to-consumer (D2C) brands under one umbrella by investing in or acquiring them and scaling them up.
Una Brands has multiple direct subsidiaries, mostly based in Singapore, and several affiliated subsidiaries across Australia, Singapore, Indonesia, Malaysia, and China.
Una Brands’ top shareholders
According to DealStreetAsia’s DATA VANTAGE, Una Brands has raised at least $48. 65 million in equity funding. Its major shareholders include Alpha JWC, White Star Capital, Kingsway Capital, Presight Capital, and Northstar Group.
