Properties vol 1 2017 Janet Gurwitch

Influential Women Influencial Women of Houston

Janet Gurwitch

Castanea Partners

“I love living in Houston,” she says. She talks about the city with as much enthusiasm as her work. “We have everything — great food, the arts, sports, real people, a community.”

Operating Partner

janet gurwitch

is building global brands from Houston

by Carly Curren

Headed toward the apex of her career, Janet Gurwitch noticed a fashion trend gaining traction in the beauty market. At 42 she was leading a glamorous life on the front row of fashion shows in New York, London and Paris. She knew most heads of department stores in the United States and major cities around the world.

Janet’s position as Executive Vice President at Neiman Marcus was, by the admission of the owners, a final link in the very elegant chain leading to a position as the first woman CEO.

partner, Janet put up all of her own money to get Laura Mercier up and running. But in the end it wasn’t enough. She approached Neiman Marcus, this time for an entree to Wall Street, but Nieman’s owners wanted to invest. The stipulation was a 51% stake in Laura Mercier. It would be a regret, Janet explains, if there had been another option at the time. When two private equity firms bought Neiman Marcus in 2005, the new owners sold Laura Mercier to Alticor.

Janet grew up in Hattiesburg, Mississippi, a long way from the runways of international airports or global haute couture. After studying retail at the University of Alabama, she moved to Houston for a job at Foley’s. “I learned everything about planning a business there,” she recalls over a bottle of water in her River Oaks living room.

Janet’s next career move followed the natural convergence of her background in global retail and entrepreneurship. She joined Castanea, a private equity firm started by the family that originally owned Neiman Marcus and Bergdorf Goodman, as a partner.

Their first major acquisition together was Urban Decay, which sold to L’oreal three years later. Janet was hooked. “This way I get to have my thumbprint on a brand and influence its direction, but I’m not the CEO.” They’ve since invested in DryBar and First Aid Beauty.

Janet excelled as a buyer for Foley’s. And it was there, passed up for a promotion, that she learned the importance of interoffice politics. “I wasn’t in the boss’ office enough.

I thought if I beat my plan, the numbers spoke for themselves.” It obviously didn’t take her long to improve her political savvy.

Dallas-based Neiman Marcus recruited Janet for a position as Executive Vice President of merchandising where she was plunged into the global luxury market.

On her own, Janet invested in Dollar Shave Club, helping the founder start a mens grooming brand. The company recently sold to Unilever for $1 billion. Janet currently works with Mimibox – a Korean beauty brand, and she invested in Sugarfina – a chain of high-end candy stores coming soon to Houston.

“Houston has a great entrepreneurial One luxury brand, Armani, was leading atmosphere,” she says. “People are fashion trends with a neutral color palette, As an entrepreneur who struggled to find and Bobbi Brown followed suit in cosmetics. funds for her first company, Janet now invests eager to give you their time When Neiman Marcus started carrying Bobbi in and guides young companies through and advice. There’s good support Brown lipstick, Janet met the eponymous growth. Perhaps something she herself could for a young business.” makeup artist. “She was the first person to have used before Neiman Marcus invested in really teach me how to do my makeup,” Janet Laura Mercier. remembers. “She told me I looked ‘so Texas,’” she laughs. “And I’m sure I did.”

While Janet spends a good deal of her life traveling (she recently earned Million Miler status with United) Houston is home. Janet Simultaneously, Janet watched the aisles of ready-to-wear fashion serves on the board of the Jones Graduate School of Business at come to life. Names like Tommy Hilfiger, Calvin Klein and Donna Rice University and is the only woman on the board of the Houston Karan dominated sales. They were all living designers. Janet Astros. She’s also an investor in the baseball franchise. “I love predicted that same evolution in beauty. “If you walked a cosmetics living in Houston,” she says. She talks about the city with as much floor in 1995, you would have wondered what year it was,” she enthusiasm as her work. “We have everything – great food, the arts, says. She saw the success of Bobbi Brown and MAC. “I knew I sports, real people, a community.” was seeing an inflection point. And I was sure new names would dominate cosmetics after that.”

In a city where our history is dominated by tales of risk-it-all wildcatters, it’s no surprise that Janet Gurwitch feels at home Armed with a potent mix of intuition, drive and invaluable here. “Houston has a great entrepreneurial atmosphere,” she says. connections, Janet left behind a chance to become Neiman “People are eager to give you their time and advice. There’s good Marcus’ first woman CEO. She moved to Houston to start her own support for a young business.” cosmetics brand, Laura Mercier. “People thought I was crazy,” she says matter of factly.

These days entrepreneurs call Janet for mentorship, a position she relishes and makes time for in a busy schedule. So what’s next for Today private equity is more readily available for someone with Janet Gurwitch? She’s got her sights set on investing in a TexasJanet’s background. Then it was rare. Alongside a Dallas business based brand.