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Friday, Feb 3, 2023

Accessory Junkie Brings Pop-Up to Malibu

Accessory Junkie co-founder Ursula Lyon lived up to her e-commerce company’s name in a flowy white dress complete with a resplendent, statement necklace to catch the eyes of kombucha-sipping guests at an outdoor mall in Malibu.

The scene was the toney Malibu Lumber Yard, site of Accessory Junkie’s first try at being a brick-and-mortar retailer in the form of a pop-up retail store for the summer months.

The theme of the evening?

A fierce females’ cocktail party.

Lyon and co-founder Michelle Reeves led a discussion about women in business. Lyon told the Business Journal the decision to choose Malibu for its retail pop-up was easy.

“A lot of our clientele are based here,” she said. “We’ve found a lot of synergy with our clients – they understand the art, curation and travel aspect to what we offer.”

The biggest challenge for the two? Time difference. Lyon is based in Connecticut and Reeves in Oregon. But the duo said their love for art and accessories makes it all worth it. They launched the company in September 2016 as an e-commerce platform that curates and sells one-piece items produced by jewelers from around the world. Pieces range from $28 to $1,500 and the site has four collections so far.

“Every single collection sells out in four to five weeks,” Lyon said. “Our business model focusses on quality and our clients’ needs, which is why our online store is open only four times a year.”

The company was self-funded by the founders. Lyon said they have since gotten an undisclosed investment from client-turned-investor, Randi Zuckerberg, the chief executive of Zuckerberg Media and sister of Facebook Inc. founder Mark Zuckerberg.

Accessory Junkie currently has four employees. Lyon declined to provide revenue figures.

ATL Adds Rock-It Cargo

New York City-based private equity firm ATL Partners purchased a majority stake in Westchester-based Rock-It Cargo USA and its subsidiary, Rich Forwarding, the company announced July 31.

Terms of the deal were undisclosed.

Rock-It is a logistics firm and provides services to the music, entertainment and sports industries. Clients include Taylor Swift, Paul McCartney and the National Football League, among others, the company said,

David Charles Bernstein, who founded Rock-It in 1978, will maintain a significant equity stake in the company, according to the announcement. Bernstein said the deal will allow the company to “accelerate growth by capturing more opportunities in our existing end markets,” with an eye on internal expansion and other acquisition potential. Its subsidiary, Rich Forwarding, is based in London and also is a logistics services provider.

ATL Partners was founded in 2014 and makes investments in the aerospace, transportation and logistics sectors.

The private equity firm has a minimum equity investment requirement of $75 million and a target equity investment range of $150 million to $750 million, according to its website.

Port of L.A. Plans Marina Development

The Port of Los Angeles’ Waterfront and Commercial Development Group continue to solicit interest on waterfront projects.

The latest announcement from the port pointed to a commercial development opportunity available at Cabrillo Way Marina in San Pedro.

“We are excited to begin the process of bringing the Cabrillo Way Marina development opportunity to the marketplace,” Gene Seroka, executive director at the port, said in a statement. “We look forward to meeting with interested parties, answering questions and receiving input on this unique waterfront development…”

Cabrillo Way Marina consists of 400 acres of land and eight miles of waterfront port property. The development opportunity covers 87 acres of land and water and is located at the southwest corner of Miner Street and 22nd Street in San Pedro.

The Port of Los Angeles completed a $125 million upgrade of the marina in 2011 and added nearly a mile of public waterfront promenade. It has invested more than $600 million in waterfront infrastructure over the last 15 years, according to its website.

Two major developments currently underway are the San Pedro Public Market – part of which is being built by demolishing the Ports O’ Call shopping and restaurant enclave – and AltaSea, a public-private partnership and business accelerator formed in 2013. Both projects represent more than $200 million in additional private investment over the next five years, port officials said.

Another high-profile project that’s approved but is yet to commence construction is Space Exploration Technologies Corp.’s rocket manufacturing facility. The SpaceX facility is expected to go up across the port’s main shipping channel from the future site of the San Pedro Public Market.

The Port of Los Angeles will release a formal request for qualifications followed by a request for proposals on the development opportunity later this year, according to the announcement.

Staff reporter Shwanika Narayan can be reached at snarayan@labusinessjournal.com or (323) 556-8351.


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