Ciara has just ‘leveled up’ her business game in a major way.
It was recently announced that the Grammy-award-winning artist’s rum brand Ten To One is set to receive a capital investment from Pronghorn, an investment company headed up by spirits veteran Dia Simms.
“Pronghorn’s team are spirits industry game-changers,” said Ciara, who is a co-Owner of Ten To One. “It’s rewarding to see these creative minds rally around a brand and a mission that I am so passionate about and enable a path to excellence that uplifts and supports Black entrepreneurs.”
Launched in New York by proud Trinidadian Marc-Kwesi Farrell in 2019, Ten To One represents the less than 1% of spirits brands that have been acquired by another Black company.
“Continuously challenging expectations has been core to our brand’s DNA from day one, and proven to be a major ingredient in preserving on a path to success – even against the backdrop of a global pandemic,” said Marc Farrell, Ten To One in a news release. “There remains an enormous opportunity to change the way people taste, experience and talk about rum, and with the incredible support of the Pronghorn team, we will not only be able to expand our footprint to other major metropolitan hubs, but also introduce consumers to new occasions for which rum should be considered the spirit of choice.”
Pronghorn’s capital investment is reportedly one of many, as the company has said that they plan to serve as a hybrid incubator and accelerator for other Black-owned brands.
“Pronghorn’s goal is to cultivate the next generation of Black entrepreneurs, executive leaders, and founders within the spirits industry” said Erin Harris, Co-Founder, Pronghorn. “We are thrilled to kick off the first of 57 investments in Black-owned spirits brands that will be made over the next ten years with Ten To One Rum. Diverse representation in entrepreneurship will drive innovation, and Ten To One is a leading example of that through its continued reimagination of the rum category.”
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