NEW YORK – Ron Chereskin Studio Inc., a menswear design and licensing firm, has been acquired by the fledgling private equity fund Bluestar Alliance. Under the terms of the deal, designer Ron Chereskin will continue to design menswear and represent the brand publicly. Bluestar Alliance will own all assets and trademarks.
Ron Chereskin was very excited. “They provide the platform and the finance, and I can do what I do best, which is design products,” Chereskin said. “There’s so much sameness out there. I think American designers can emerge even bigger.”
Ron Chereskin is a better menswear brand sold in mid-tier and higher-end department and specialty stores. The company also has licensing contracts in a number of apparel and accessories categories. The company says it does $60 million in sales in stores.
Much of the publicity around the deal focuses on Cherskin’s new Works line. “Works by Ron Chereskin is going to be the catalyst,” said Howard Goldfarb, Chereskin’s marketing director. “It’s going to springboard everything.” Works is a new line aimed at a younger men’s market, due out in the Spring.
The acquisition has been about six months in the making, Chereskin said. The Works line, which he says helped the deal, was already well under way.
Ron Chereskin, originally an illustrator, founded the eponymous design firm in 1980. He began desgining menswear in the mid-1970’s with neckwear and shirts based on his illustrations. Chereskin has ventured into women’s fashion, but currently focuses on menswear.
Bluestar Alliance was started in January of this year by Ralph Gindi and Joey Gabbay, the president of Wellington Capital Group.