Castanea Partners announced today that it has invested in IPPOLITA, a designer of luxury jewelry and accessories.
Founded in 1999, IPPOLITA is a fast-growing designer and marketer of luxury fashion jewelry and related products under the IPPOLITA brand. Beginning with their iconic handcrafted bangles, IPPOLITA successfully created a unique, fashion-forward jewelry aesthetic appealing to discerning contemporary and classic customers. The company sells its products at leading premium retailers including Neiman Marcus, Saks Fifth Avenue, Bergdorf Goodman, Harrods, and Holt Renfrew, as well as through a number of specialty boutiques and its own website (www.ippolita.com). IPPOLITA is headquartered in New York, NY.
Castanea will support the company as it continues to strengthen the distinctive IPPOLITA brand and expand its distribution footprint. Founder and Creative Director, Ippolita Rostagno, and CEO, Lauren Sharfman, will continue in their current roles.
“Castanea’s vast operating experience in luxury consumer brands makes them an ideal strategic partner,” said Lauren Sharfman.
Ippolita added, “The company is at an important inflection point. Our brand resonates with a growing number of fashion-forward women, and Castanea will help us build the infrastructure to meet that demand, support our wholesale customers, and realize exciting growth opportunities.”
“We are very pleased with the opportunity to invest in such a high profile and successful brand,” said Brian Knez, co-managing partner of Castanea. “Ippolita and Lauren have achieved a level of success that is truly impressive and we are excited to partner with them as the Company continues to expand.”
Castanea is a private equity firm that works in partnership with founders and management teams of innovative passion brands to grow their businesses through a combination of capital investment and operating expertise. We are focused on select consumer verticals including beauty, food and beverage, multi-unit services, and enthusiast lifestyle. We typically invest between $15 to $150 million of equity in minority or majority transactions. Our team of talented operating executives offers critical expertise in key verticals and functional areas, and provides our partner companies with strategic and tactical support. Castanea has more than $1 billion in assets under management and is currently investing from a $735 million fourth fund. For more information about Castanea Partners read our story.