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Shwanika Narayan

Stories by Shwanika

Big Foundations Top $40B

The assets of Los Angeles County’s top 50 private charitable foundations and trusts collectively topped $41.1 billion last year, a 4.8 percent boost over the prior year.

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Macerich, Simon to Build 400,000-plus SF Retail Outlet Mall in Carson

Santa Monica-based Macerich Co. and retail developer and operator Simon Property Group Inc. announced they will join to build an outlet mall in Carson.

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$50 Million Grant to be Awarded to Port of Long Beach

The Port of Long Beach was approved for a $50 million grant to develop clean equipment and technology for various sectors of its cargo movement supply chain.

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Budget Beauty Bar Draws Outside Investment

Face Haus adds locations in Santa Monica, USC Village, Manhattan Beach

West Hollywood-based Face Haus, a beauty bar whose slogan is “facials for the people,” opened its fourth location late last month and has plans for another already in the works.

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Market Movers

L.A. metro area leads state in growth of women-owned firms over last decade

Women-owned business in the Los Angeles metro area led the state in growth.

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Third Street 3.0 in Santa Monica

RETAIL: Plan to “reimagine” retail center underway

Santa Monica’s Third Street Promenade examines whether to reinvent itself once again.

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Happy Returns Expands Return Bar Locations With Paper Source

Ahead of the holiday shopping season, Santa Monica-based Happy Returns is expanding its return services via 125 Paper Source stores nationwide.

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Hapik Opens First U.S. Store in El Paseo South Gate

The El Paseo shopping center in South Gate is the latest retail outfit to offer experiential services to its patronage by signing a 10-year lease with Hapik, an indoor climbing park.

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Kumana Brings Avocado Sauce to Own Backyard

Downtown-based company adds local grocers on heels of debut in NorCal, Oregon

Avocado sauce maker Kumana Foods expands into supermarkets.

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Forever 21 Adds Visual Searching

RETAIL: Fast-fashion specialist moves to bolster website, mobile app

Forever 21 debuts new visual search feature to boost online sales.

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$60M Makeover

What all the time, money meant for Hotel Figueroa

So what took downtown’s Hotel Figueroa so long to re-open?

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Forever 21 Partners With Donde Search for Visual Search and Navigation

Online customers of fast-fashion retail chain Forever 21 will soon be able to shop for items using a new visual search function.

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Brooks Brothers to Close Rodeo Store

Building listed for $300 million

Brooks Brothers is permanently closing its store at 468 N. Rodeo Drive in Beverly Hills on Aug. 27.

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Santa Monica Parking Lot Operator Sentenced to Federal Prison for Bribery Scheme

A Santa Monica parking lot operator was sentenced to almost six years in federal prison for a bribery scheme that bilked the U.S. Department of Veteran Affairs out of $13 million.

Fat Brands to Expand in Southern California

Beverly Hills-based Fat Brands Inc. is planning to roll out 12 Fat Burger and Buffalo Express restaurants throughout Southern California, the company announced Aug. 20.

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Biggest Dealers Set Sales Pace

AUTOS: Increase in units sold tops broader markets

The market for L.A. County’s auto dealers in 2017.

Fallas Plans to Get Back Up

RETAIL: Everything but e-commerce hit discount chain

How National Stores plans to rescue itself from Chapter 11 bankruptcy in the challenging retail climate.

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Cargomatic Raises $35 Million Series B Round

Long Beach-based Cargomatic Inc., an online platform that helps connect shippers and truckers for cargo delivery, closed a $35 million Series B round, the company announced Aug. 16.

Mvmt to be Acquired for $100 Million

Watch company Mvmt (pronounced movement) is set to be acquired by Movado Group Inc. for $100 million, the companies announced Aug. 15.

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Southern Counties Express Acquired for $65 Million

Compton-based logistics company, Southern Counties Express Inc., was acquired for $65 million in cash by competitor Universal Logistics Holdings Inc., the companies announced Aug. 10.

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Homegrown Goods

LA Original pop-up shop at the MOCA promotes local artisans

Local artisans display their wares under the LA Original banner at the Museum of Contemporary Art pop-up store.

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Accessory Junkie Brings Pop-Up to Malibu

Online retailer holds event to show off jewelry, talk women in business

Accessory Junkie launches its brick-and-mortar pop-up with a working women party.

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Long Beach City College and Port to Offer Supply Chain Training

The Port of Long Beach and Long Beach City College have partnered up to launch a new training program to prepare students for jobs in the global logistics and supply chain industry.

Strand Equity Invests in Van Leeuwen Ice Cream Brand

Private Equity firm, Strand Equity Partners closed a minority investment in Brooklyn-based vegan ice-cream brand, Van Leeuwen Ice Cream. Terms of the deal were not disclosed.

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YouWorld’s New World

Firm helps retailers reach Chinese millennials

Pasadena firm plays matchmaker between Chinese travelers and local retail centers.

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Reliance Steel Acquires Two Metal Fabrication Companies

Downtown-based Reliance Steel & Aluminum Co. announced Aug. 1 the acquisition of sheet metal fabrication companies, KMS Fab and KMS South Inc. Terms of the deal were undisclosed.

Vance Street Capital Invests in Aerospace Maker

Sawtelle-based private equity firm Vance Street Capital announced the recapitalization of Jet Parts Engineering Inc. in Seattle. Terms of the deal were undisclosed.

21st-Century Influence

LA 500

The rise of social media itself has led to a shift to platforms and personalities that brands consider to be influential.

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OSI Gets $140 Million U.S. Customs Contract

Hawthorne-based OSI Systems Inc. signed a new five-year contract with United States Customs and Border Protection valued at up to $140 million, the company announced June 26.

Guess, Alibaba Join on Brick-and-Mortar Store

China-based e-commerce giant picks L.A. brand for first try on concept

“Smart” racks, mirrors and fitting rooms to debut in Guess’s new Hong Kong store.

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Chef’d Assets Bought By Competitor

Chef’d, the meal-kit delivery company which suddenly shut down business operations recently found a buyer of its assets in competitor True Food Innovations. Terms of the deal were undisclosed.

Mattel Plans to Cut 2,200 Jobs

Amidst revenue loss for a fourth straight quarter, El Segundo-based Mattel Inc. plans to cut 2,200 of its workforce, the company announced in its second-quarter earnings released July 25.

Short Supply

Booming job growth continues to drive tight rental market.

More jobs in L.A. County puts downward pressure on apartment vacancies in first quarter.

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SnackNation: Big Data Meets Emerging Brands

Culver City “curator” puts healthy snacks on office menus

SnackNation expands offerings.

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Chef’d Shuts Down Operations

El Segundo-based meal kit delivery company Chef’d abruptly closed business operations on Monday July 16.

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June Cargo Volume Up for Long Beach, Down for LA

Cargo movement at the Port of Long Beach set a new record for the month of June while neighboring Port of Los Angeles saw a slight decrease in volume.

Tender Greens Names New CEO

Culver City-based Tender Greens announced July 12 that company president Denyelle Bruno will take on the role of chief executive effective immediately.

Pressure on PierPass

Plan to change fee structure at ports incites opposition from retailers, other big freight owners

New proposal at ports.

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Pico Rivera Furniture Brand Adds Manufacturing

Unisource Solutions hires former supplier to lead local production

Unisource Solutions Inc. takes manufacturing in-house.

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Differential Brands Sign Licensing Deal for Robert Graham Brand

Commerce-based Differential Brands Group Inc. which designs, develops and licenses apparel products, announced July 10 that its Robert Graham brand signed a licensing agreement with Peerless Clothing International Inc.

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Trend Favors Exec Search

ECONOMY: Boomers’ retirements drive demand

Retained executive search firms gain opportunities as baby boomers exit the C-suite.

Fat Brands Enters $16 Million Credit Facility

Restaurant franchising company Fat Brands Inc. announced July 5 that it had entered a $16 million senior credit facility to help complete its previously announced acquisition of Hurricane Grill and Wings.

California Launches Statewide Janitorial Registry

Beginning July 1, all janitorial service providers and contractors are required to register with the state of California on an annual basis. Failure to do so will result in fines, the state’s labor commissioner’s office said.

Beyond Meat Increases Manufacturing Operations

El Segundo-based Beyond Meat Inc., producers of plant-based meat substitute products is expanding its manufacturing footprint threefold, the company announced June 29.

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Women-Owned Firms Reach $18.9B

ECONOMY: Top 100 combine for 1.8% sales hike

Women-owned businesses in L. A. County combined for nearly $20 billion in sales in 2017.

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Port Container Facility Moves Forward

Requests for comment kick off EIR review process for $130M cargo project

Port of L.A. takes step towards proposed Harbor Performance Enhancement Center.

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Differential Brands to Acquire Majority Stake in H.K. Competitor for $1.3B

Commerce-based Differential Brands Group announced June 27 that it had agreed to acquire a majority stake in Hong Kong’s Global Brands Group Holding for $1.3 billion. Both companies are designers, developers and licensors of apparel products.

Home Essentials Company Parachute Raises $30 Million

Venice-based Parachute Home Inc., designers and manufacturers of bedding products, raised a $30 million Series C round the company announced June 27.

Cosco Shipping to Put Long Beach Terminal in U.S. Trust

China-based Cosco Shipping Holdings Co. is considering putting a container terminal at the Port of Long Beach in a U.S.-run trust in response to concerns raised by federal regulators regarding the shipping company’s pending ownership of the facility, according to the Wall Street Journal.

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Private Equity Firm OpenGate Sells Paper Company

Century City-based private equity firm OpenGate Capital completed the sale of its portfolio company NorPaper Group to a Lebanese firm, the company announced June 22. Terms of the deal were undisclosed.