Mela Artisans, a Boca Raton, Florida-based luxury lifestyle brand, closed $3m financing.
India-based social venture firm Aavishkaar made the investment.
The company intends to use the funds to expand its collections, grow its distribution channels domestically and internationally and to reach out to a wider range of artisan societies in various states in India.
Co-Founded in August 2010 by entrepreneur Navroze S. Mehta and his daughter Sonali Mehta-Rao and joined by design entrepreneur Dipali Patwa, Mela Artisans is a design driven luxury lifestyle brand that aims to “contemporize” traditional handcrafted techniques by local artisanal skills, while fostering entrepreneurship and sustainable social uplift in the communities in which it works.
It has launched collections with leading stores such as Neiman Marcus, Bergdorf Goodman, Bloomingdales, Holt Renfrew and other fine boutiques in the U.S., Europe and Latin America and online at www.melaartisans.com.
FinSMEs
04/03/2014