MountainWest Capital Network named Cariloha, retailer of bamboo clothing, accessories, and bed and bath goods, among the top 15 Emerging Elite companies in the state of Utah.
SANDY, Utah – For its debut appearance at the 17th annual Utah 100 Awards, Carioha shined among the Emerging Elite companies in the top 100 fastest growing businesses in the state. Successful businesses such as Orabrush, Skullcandy, and Nu Skin have previously made the rankings, as well as many other successful Utah-based businesses.
The list recognizes the 100 Fastest Growing companies, 15 Top Revenue Growth companies, and all candidates must be Utah-based, for-profit entities. Awards in the 100 Fastest Growing category are based on percentage revenue increases from 2006 through 2010.
Top Revenue Increase winners have the largest dollar amount of revenue growth over the same five-year measuring period. Emerging Elite companies are selected from among companies with less than five but more than two years of operation that show significant promise for future success. Cariloha experienced over 430% growth in the last three years, 230% in 2010 alone — and continues to climb substantially.
“Being the only retailer in the Caribbean, Mexico and United States to offer an entire store made up of bamboo-based products, we see this Emerging Elite award as a foreshadowing of the numerous emerging markets yet to come,” said Scott Brady, AVP of Communications for Del Sol. “Bamboo is something we should all live with, and we hope to bring even more bamboo clothing and bedding options to as many people as we can who are looking for a bamboo-friendly lifestyle of their own.”
For Cariloha, the Utah 100 award comes after ongoing expansion of its product line and store presence in the United States and Caribbean, introducing new bamboo T-shirts, bamboo socks, bamboo scarves, and bamboo polos and opening new, free-standing Cariloha stores in San Francisco, Las Vegas, Barbados, Cozumel, Mexico and Kauai, Hawaii.
“We’re regularly thinking of new ways we can bring our bamboo products to consumers around the world,” said Brady. “It’s amazing to see how much we’ve grown, as is evidenced by our latest Utah 100 award. It’s a bambootiful thing to see.”
Established in 2007, Cariloha is the only retailer in the world to provide an entire store experience that’s completely outfit with merchandise made of bamboo. The product line features an exclusive collection of apparel, accessories, home décor, bedding and bath goods and more all made from bamboo. Cariloha’s soft, breezy bamboo goods were first seen out of three, full stores in Ocho Rios, Jamaica; Cozumel, Mexico; and St. Thomas, USVI. Since the first three stores in 2008, Cariloha has already opened stores in nine countries and growing. Cariloha has quickly become one of the fastest-growing merchants promoted on board Carnival, Celebrity, Disney, Princess, Royal Caribbean and Norwegian Cruise Lines. Today, thanks to an ever-growing, rich supply of bamboo, Cariloha continues to offer an exclusive collection of apparel, accessories, home décor, bed and bath sets and more all enjoying the strength, soft touch, and green ‘footprint’ of this renewable resource. www.cariloha.com
About MountainWest Capital Network
Based in Salt Lake City, MountainWest Capital Network’s members include a broad mix of entrepreneurs, venture capital providers, professional consultants, attorneys, bankers, accountants, and educators from universities and institutions of higher education. MWCN seeks to promote business growth and capital development in the state through a variety of educational and professional activities. The premier programs that MWCN provides to the business community include the Utah100 Program, the Utah Deal-Flow Report and real-time transaction reporting, and an annual Entrepreneur of the Year award. Information is available through the MWCN website www.mwcn.org or via email at firstname.lastname@example.org.
FOR IMMEDIATE RELEASE
October 6, 2011
AVP of Communications
Zip code: 84070