Key Takeaways
- • Serruya Private Equity (SPE), a Markham, Ontario-based family-owned investment group, appointed serial entrepreneur Jenny Frankel to support retail strategy and brand growth across its portfolio and to lead The Body Shop brand, according to Retail Insider.
- • 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, per the company's announcement.
- • Frankel previously co-founded Cover FX, which she exited successfully in 2011, and began her career as a product developer at M.A.C Cosmetics.
- • SPE's portfolio spans 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.
- • Frankel's stated priorities for The Body Shop in Canada include expanding its Shoppers Drug Mart partnership, strengthening online channels via TBS.ca and Amazon, and enhancing in-store experiences.
Summary
Serruya Private Equity has appointed Jenny Frankel to support retail strategy and brand growth across its portfolio and to lead The Body Shop, the company announced recently. SPE, a Markham, Ontario-based family-owned investment group building and operating consumer brands since 1986, said Frankel brings more than 25 years of prestige beauty industry experience, including the founding and global scaling of Nudestix.
Michael Serruya, Managing Director of Serruya Private Equity, said Frankel's track record of scaling Nudestix from a Canadian startup to a global brand with over 3,000 retail doors would be a strong asset in strengthening operations and expanding SPE's brands. Frankel, a chemical engineer by training, began her career as a product developer at M.A.C Cosmetics and later co-founded Cover FX, which she built into a recognized name across North American prestige retail before a successful exit in 2011. She founded Nudestix in 2014; 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. Nudestix has expanded to retailers including Sephora, Ulta Beauty, Target, Shoppers Drug Mart and Selfridges, and has generated over $80 million in retail sales, according to the company.
In her new role, Frankel will work with SPE's leadership and brand teams on retail strategy, operations and growth opportunities, drawing on expertise in omnichannel retail, product innovation, consumer community-building and mission-led brand stewardship. In an interview with Retail Insider, she outlined a vision of making The Body Shop one of Canada's favourite destinations for body care, beauty gifting and wellness. Her stated priorities include establishing a leadership structure with clear accountability across finance, commercial and brand, growing the partnership with Shoppers Drug Mart, and strengthening online access through TBS.ca and its Amazon storefront.
SPE's 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 expansion across Canada, the United States and international markets. Frankel cited Circana data showing Canadian prestige beauty sales grew 6% in the first half of 2026, with hair care up 23%, as evidence that beauty remains one of retail's more resilient categories despite consumer financial pressure.
Michael Serruya, Managing Director of Serruya Private Equity, said Frankel's track record of scaling Nudestix from a Canadian startup to a global brand with over 3,000 retail doors would be a strong asset in strengthening operations and expanding SPE's brands. Frankel, a chemical engineer by training, began her career as a product developer at M.A.C Cosmetics and later co-founded Cover FX, which she built into a recognized name across North American prestige retail before a successful exit in 2011. She founded Nudestix in 2014; 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. Nudestix has expanded to retailers including Sephora, Ulta Beauty, Target, Shoppers Drug Mart and Selfridges, and has generated over $80 million in retail sales, according to the company.
In her new role, Frankel will work with SPE's leadership and brand teams on retail strategy, operations and growth opportunities, drawing on expertise in omnichannel retail, product innovation, consumer community-building and mission-led brand stewardship. In an interview with Retail Insider, she outlined a vision of making The Body Shop one of Canada's favourite destinations for body care, beauty gifting and wellness. Her stated priorities include establishing a leadership structure with clear accountability across finance, commercial and brand, growing the partnership with Shoppers Drug Mart, and strengthening online access through TBS.ca and its Amazon storefront.
SPE's 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 expansion across Canada, the United States and international markets. Frankel cited Circana data showing Canadian prestige beauty sales grew 6% in the first half of 2026, with hair care up 23%, as evidence that beauty remains one of retail's more resilient categories despite consumer financial pressure.
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