Key Takeaways
- • Serruya Private Equity (SPE), a Markham, Ontario-based family-owned investment group operating consumer brands since 1986, appointed beauty entrepreneur Jenny Frankel to support retail strategy and brand growth across its portfolio and lead The Body Shop brand.
- • Frankel founded Nudestix in 2014 and scaled it to more than 3,000 retail doors in over 30 countries and over $80 million in retail sales, according to the company.
- • Frankel previously co-founded Cover FX, which she sold in a successful exit in 2011, and began her career as a product developer at M.A.C Cosmetics.
- • Frankel's stated priorities for The Body Shop Canada include expanding its Shoppers Drug Mart partnership, growing TBS.ca and its Amazon storefront, and strengthening store experiences.
- • The appointment comes as SPE, whose portfolio includes Pinkberry, Yogen Früz, Swensen's, Sprinkles, Bonchon and The Body Shop, continues to expand through partnerships with Egg Club and Honestly Good Chicken Fingers.
Summary
Serruya Private Equity has appointed Jenny Frankel to support retail strategy and brand growth across its portfolio and to lead The Body Shop brand, according to an announcement reported by Retail Insider. SPE said Frankel brings more than 25 years of prestige beauty industry experience, including the founding and global scaling of Nudestix, along with a commitment to vegan, cruelty-free and ethical beauty. Michael Serruya, Managing Director of SPE, said her track record of scaling Nudestix from a Canadian startup to a global brand "speaks for itself" and that her experience will strengthen operations and support expansion of the firm's brands.
Frankel is a chemical engineer by training who began her career as a product developer at M.A.C Cosmetics. She later co-founded Cover FX, a dermatologist-recommended complexion brand, before a successful exit in 2011. She founded Nudestix in 2014, and under her leadership the brand earned Women's Wear Daily's Prestige Beauty Brand of the Year award in 2015 and more than 30 global product awards. The company reports Nudestix expanded to more than 3,000 retail doors in over 30 countries, including Sephora, Ulta Beauty, Target, Shoppers Drug Mart and Selfridges, and generated more than $80 million in retail sales.
In her new role, Frankel will work with SPE's leadership and brand teams on retail strategy, operations and growth opportunities, drawing on her expertise in omnichannel retail, product innovation and mission-led brand stewardship. In an interview with Retail Insider, she outlined plans for The Body Shop in Canada, including building leadership structure with clear accountability across finance, commercial and brand, growing its partnership with Shoppers Drug Mart, expanding online reach through TBS.ca and its Amazon storefront, and enhancing in-store experiences. She also cited a challenging consumer backdrop, noting that according to Circana, prestige beauty sales in Canada grew 6% in the first half of 2026, with hair care up 23%.
SPE, which has built and operated consumer brands since 1986, says its portfolio includes Yogen Früz, Pinkberry, Swensen's Ice Cream, Sprinkles, Cha Cha Matcha, Bonchon Korean Fried Chicken and The Body Shop, with more than 3,000 franchise locations across 50 countries. The firm recently announced partnerships with Egg Club, a Toronto-based breakfast brand, and Honestly Good Chicken Fingers to support their expansion across Canada, the United States and international markets.
Frankel is a chemical engineer by training who began her career as a product developer at M.A.C Cosmetics. She later co-founded Cover FX, a dermatologist-recommended complexion brand, before a successful exit in 2011. She founded Nudestix in 2014, and under her leadership the brand earned Women's Wear Daily's Prestige Beauty Brand of the Year award in 2015 and more than 30 global product awards. The company reports Nudestix expanded to more than 3,000 retail doors in over 30 countries, including Sephora, Ulta Beauty, Target, Shoppers Drug Mart and Selfridges, and generated more than $80 million in retail sales.
In her new role, Frankel will work with SPE's leadership and brand teams on retail strategy, operations and growth opportunities, drawing on her expertise in omnichannel retail, product innovation and mission-led brand stewardship. In an interview with Retail Insider, she outlined plans for The Body Shop in Canada, including building leadership structure with clear accountability across finance, commercial and brand, growing its partnership with Shoppers Drug Mart, expanding online reach through TBS.ca and its Amazon storefront, and enhancing in-store experiences. She also cited a challenging consumer backdrop, noting that according to Circana, prestige beauty sales in Canada grew 6% in the first half of 2026, with hair care up 23%.
SPE, which has built and operated consumer brands since 1986, says its portfolio includes Yogen Früz, Pinkberry, Swensen's Ice Cream, Sprinkles, Cha Cha Matcha, Bonchon Korean Fried Chicken and The Body Shop, with more than 3,000 franchise locations across 50 countries. The firm recently announced partnerships with Egg Club, a Toronto-based breakfast brand, and Honestly Good Chicken Fingers to support their expansion across Canada, the United States and international markets.
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