Private equity firm Castanea Partners has hired Ron Frasch as an operating partner focusing on luxury products and services. Previously, Frasch worked at Saks Fifth Avenue where he served as its president and chief merchandising officer until the company was sold to Hudson’s Bay in 2013.
NEWTON, Mass.–(BUSINESS WIRE)–Castanea Partners announced today that Ron Frasch has joined the firm as an Operating Partner focusing on luxury products and services.
Brian Knez, Managing Partner of Castanea, said, “Ron is a world-class merchant and a talented and experienced business executive. This is a rare skill set and we’re very excited to add Ron to the Castanea team. As a firm, we are focused on bringing unique operating experience and insight to our portfolio companies and Ron’s extensive knowledge and network in luxury goods and services will add significant value to our existing portfolio and help us identify exciting new opportunities for investment. “
Prior to joining Castanea, Ron was President and Chief Merchandising Officer at Saks Fifth Avenue until the sale of the company to Hudson’s Bay Co. in 2013. Previously, Ron was CEO and President at Bergdorf Goodman. He also held senior executive positions at GFT USA and Escada USA as President, and President and CEO, respectively, and Neiman Marcus where he was Senior Vice President and General Merchandise Manager for ready-to-wear, accessories, and cosmetics.
“I am very honored to be joining Castanea,” said Ron Frasch, “and to have the opportunity to be working closely again with Brian Knez and Rob Smith, both founders of Castanea, and to identify and partner with exceptional small and mid-size companies in the luxury women’s and men’s apparel, accessory, shoe, and jewelry sectors. I don’t define luxury simply by price,” added Frasch,” but more broadly by the vision of the founders and the nature of the relationship between the customer and product or service. I look forward to collaborating with creative entrepreneurs and management teams to build successful businesses with Castanea Partners.”
Ron serves on Crocs, Inc. Board of Directors’ audit and governance committee.
Castanea Partners is a private equity firm founded by operating executives and private equity veterans. We invest between $15M to $75M of equity in companies within specifically targeted industry sectors where we have proven investment and operating expertise. Castanea is principally focused on investing in dynamic consumer brands and marketing services companies that enable such brands to connect with their customers.
Castanea is currently investing from its third fund, a $500 million fund that targets companies with enterprise values up to $250 million.