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Mayan artisanal embroidery from Yucatán company woos ‘Shark Tank’ investor

- September 20, 2022

A Yucatecan entrepreneur has hooked a “Shark.”

“We have a Shark Tank Mexico deal!” exclaims the Facebook page for Zavy, a local brand that promotes artisan embroidery.

Zavy’s brand is presented on the Mexico version of Shark Tank. Photo: Courtesy

The popular reality show, which films different versions of itself in numerous countries, aired on the Sony Channel last week. It streams on Claro starting Thursday.

“Shark Tank Mexico” premiered its new season with Nancy Zavala, the Seyé native and founder of a company that sells camera and guitar straps with cross-stitch embroidery made by Yucatecan artisans.

Zavy’s brand is presented on the Mexico version of Shark Tank. Photo: Courtesy

In three years, Zavy has revenue of more than 700,000 pesos with a profit margin of 40%. They project an income of 1.4 million pesos in 2023.

Of that, 70 percent of the profit is distributed to her team of Yucatecan artisans.

“Dreams come true,” said Zavala after closing a deal with Jalisco businessman Amaury Vergara Zatarain, current president of Club Deportivo Guadalajara and general director of Grupo Omnilife. He bought 15% of the project for the amount she was asking.

“Today a story is written that will live forever in our hearts. And now to continue working for the sole purpose for which Zavy emerged,” the brand posted on Facebook. “Thank you for valuing and believing in the talent of our Mayan communities.”

The show, like the US version of “Shark Tank” is a franchise of the international format Dragons’ Den, which originated in Japan as Money Tigers in 2001. A version of the show is seen in 27 countries including the United Kingdom, Ireland, Russia, Australia, Spain, Afghanistan, and Croatia.

It depicts entrepreneurs pitching investment opportunities to a panel of six investors who respond critically to their presentations and decide whether to invest.

Source: yucatanmagazine.com

The Yucatan Post