Business View Magazine - November 2016

Business View Magazine - November 2016 37 veloped called Spectrachrome. Ultimately, we put it in clothing, nail polish, sunglasses, hair accessories and other items. We worked heavily with all the major cruise lines – Royal Caribbean, Carnival, Celebrity, Dis- ney, and Norwegian – to build our business and, while doing so, we were averaging about $40 per transac- tion.” Although the Del Sol Company was a profitable enter- prise, Pedersen kept thinking about a way to increase the amount that an individual tourist might spend in his stores. “There’s got to be a scenario where Middle America could go into a store and buy products that were around $200 or $250,” he remembers wonder- ing. “And, we felt that we really knew and understood that space of ‘take your vacation home with you.’ So, we created a business called Cariloha, where the ‘Style of the Caribbean meets the Spirit of Aloha.’ It’s a business that we had wanted to create for a number of years.” “We opened three stores: in Cozumel, Mexico, in St. Thomas in the U.S. Virgin Islands, and in Ocho Rios, Jamaica,” Pedersen continues. “We bought all this product that we thought customers would love and branded it: Cariloha. I knew all the locations, and land- lords, and all the marketing relationships on board the AT A GLANCE WHO: Cariloha Bamboo WHAT: A chain of retail stores selling bamboo- based fabric products WHERE: Headquarters in Sandy, Utah WEBSITE : www.cariloha.com