Caravelle International Group announced that it has signed a lease for a prime location at 275 5th Avenue, Manhattan, New York, 10016. The company plans to open a state-of-the-art showroom to display its range of high-quality laminate flooring and other wood products imported from Gabon, West Africa. Caravelle's entry into the lucrative US market comes with a significant cost advantage, thanks to the African Growth & Opportunity Act, which allows duty-free import of its products into the country.

The company is currently in discussion with large retailers of flooring and home improvement products and will host meetings at the new showroom to showcase its offerings. The opening of the Manhattan showroom not only solidifies Caravelle's presence in the US market but also highlights the sizeable opportunity presented by the company's partnership with a U.S. corporation to manufacture wood products in Gabon. The venture is estimated to generate $200 million in annual revenue within several years, as previously announced.