Castanea Backs Ippolita

Ippolita, a New York-based maker of branded luxury fashion jewelry and related products, has raised an undisclosed amount of private equity funding from Castanea Partners.

 

PRESS RELEASE

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, 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.”

 

About Castanea Partners

Castanea Partners is a private equity firm that invests in small and middle market companies in publishing, education, training, consumer brands, specialty retail, and marketing services. The firm has extensive operating and private equity investment experience in these sectors and, working closely with management, seeks to optimize business performance and realize attractive returns.

Castanea participates in leveraged buyouts, growth and acquisition equity investments, and operationally challenging situations. Castanea is currently investing from its third fund, a $575 million fund that targets companies with enterprise values up to $150 million.

 

More information on Castanea Partners is available at www.castaneapartners.com .