Caravana ready for global growth with support from Cho Ventures
Mexican artisan brand Caravana, inspired by ancient Mayan culture, is aiming for global expansion with investment from Cho Ventures, the private investment firm founded by entrepreneur Tony Cho.
Caravana was launched in 2011 by Jacopo “Jack” Lanniello with a focus on ready-to-wear pieces, accessories and handmade lifestyle products using traditional techniques of weaving and hand-crafting. the hand. The neo-artisan business also reflects the culture it honors, with 70 percent of its employees being Mayans and women making up 70 percent of its management team.
In a statement, Caravana said Cho Ventures will help it become a “leading sustainable lifestyle brand”, expanding into new product categories, verticals and global markets, as well as helping the development of new strategic partnerships.
Tony Cho, founder of Cho Ventures, said in a statement: âOur investment goes beyond fueling Caravana’s strategic growth, as our values ââalign with the goal of having a positive impact; celebrate and promote indigenous cultures, rituals and women; and emphasizing the importance of sustainability.
âI have known Jack the founder of Caravana for many years and consider him a visionary. He sets the example that our investment strategy aims to amplify, and together we will make Caravana a benchmark brand for sustainable lifestyles.
Cho Ventures invests in Caravana and participates in the launch of the new Prao brand with Marios Schwab
Jack Lanniello, Founder and Creative Director of Caravana, added: âCaravana is a lifestyle brand that caters to those looking for a more conscious approach to creating a future that benefits the individual, the collective and the community. planet itself through sustainability and recognition of culture and art. .
âCho Ventures understands the need to protect the environment and the importance of cultural connectivity. Their support gives Caravana the ability to further develop our community on a global scale and improve the world around us. With Cho Ventures, our efforts continue to build a better future for the next generation and to inspire them to pursue a legacy of lasting living.
The investment also acts as a catalyst for Caravana to launch the new Prao brand, a fashion brand created by Lanniello and fashion designer Marios Schwab to capture the spirit of modern Greece in collaboration with Noema, a new restaurant and bar in the old town of Mykonos.
2021 has been described as a âdefinitiveâ year for Caravana, with new store openings in Miami, Ibiza, St Tropez and Bodrum. She also developed a Bazaar retail concept with her partner Scorpios in Mykonos. The Scorpios Bazaar now features a 3,000 square foot Berber tent that showcases a selection of artisan brands sharing the same core values ââof ancient craftsmanship and sustainability. Caravana is also available at over 55 retailers, including Bergdorf Goodman, Net-A-Porter, Farfetch and its own online store.
In addition, the investment made possible through the Cho Ventures Qualified Opportunities Fund (QOF) will also allow Caravana to open its US headquarters in the Little Haiti community of Miami. They will join other companies in the Cho Ventures portfolio in a new state-of-the-art office location being renovated and scheduled to open in Q2 2022 in a Qualified Opportunity Zone, a program of US government push to revitalize underserved communities by creating jobs. and economic development.
Financial details of the investment were not disclosed.
Cho Ventures is the family office arm of Tony and Ximena Cho, focusing on strategic venture capital investments in the areas of sustainable technology, conscious fashion, impact hospitality, health and wellness. be, and other value-aligned investment opportunities.