Privately-held apparel company August Accessories began as a Southern California startup up in 1990. When he was 18 years old, Trent Valladares and his brother-in-law Dan Maravilla began working at the family business founded by Valladares’ parents. The company was small at the time but gradually carved out a strong niche designing and distributing hats, accessories, scarves, watches and small leather goods. Twenty years later, August Accessories and its stronghold of licensed and proprietary brands have a global reach and consistent shelf presence in boutiques and major retailers like Macy’s, Nordstrom and Bloomingdale’s.
With an established retail demand for its product lines, the leadership of August Accessories recognized an opportunity to innovate in the accessory market. In the early era of the iPod, the company saw technology as the new must-have accessory and designed novel product lines that merged personal tech devices with fashion accessories. However, the overall economy was unstable and banks were tightening their lending requirements.
August Accessories saw potential to overcome a struggling market by getting creative, but the company needed working capital to bring its product lines to fruition. The company needed a financial partner who understood that opportunities still existed in an adapting economy and was comfortable supporting an entirely new product line.