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March 02, 2014

Deal Alert: Aavishkaar Invests Rs. 18.6 Cr in Mela Artisans

Social venture firm Aavishkaar Venture Management has invested Rs. 18.6 crore in luxury lifestyle brand Mela Artisans, a company founded in 2010 by Navoze Mehta and Sonali Mehta-Rao. Mela is headquartered in the US but sources products from artisan clusters in states like UP and Rajasthan. Mela has launched its collections with a number of high-end retail boutiques and chains, including, Neiman Marcus, Bergdorf Goodman and Bloomingdales, across the US, Europe and Latin America. It also retails through its website. The latest investment will be used to expand its collections, grow its distribution channels domestically and internationally, and reach out to a wider range of artisan societies across India. 

Source: Economic Times
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