Dive Brief:
- Patti Cazzato, who was most recently head of emerging businesses at Victoria’s Secret, has become the CEO of California-based NakedCashmere, according to her LinkedIn post.
- Cazzato stepped into the role after Hong Kong-based Naga Brands and advisory group BlueSentinel acquired a controlling interest last year in 360Sweater Co., which owns the brand. Cazzato said NakedCashmere is now entering “the next era of expansion.”
- She succeeds co-founder Bruce Gifford in the position. Gifford is staying with the company as a shareholder and non-executive chairman. Co-founder Leslie Gifford remains as shareholder and president, according to WWD.
Dive Insight:
Cazzato described NakedCashmere as a “blank canvas” in her LinkedIn announcement.
“I look forward to continuing on this trajectory of creating modern heirlooms and building a brand that has global reach,” she said.
NakedCashmere declined to comment on the announcement.
The brand primarily specializes in online sales, but it has a physical store front in Aspen, Colorado. Damien Dernoncourt, Naga CEO, told WWD after the acquisition that he sees opportunity for more retail and wholesale.
NakedCashmere is known for its celebrity campaigns, beginning with one featuring Kate Moss in 2016. In her LinkedIn post, Cazzato touted the brand’s celebrity and influencer following.
Founded in 2016 by husband-and-wife duo Bruce and Leslie Gifford, NakedCashmere built its reputation by marketing affordable 100% cashmere products that it said were completely traceable and cruelty-free Leslie Gifford was the original creative director and president, and Bruce Gifford was the CEO. They remained shareholders after the acquisition, according to WWD.
Other brands in Naga’s stable include jeweler John Hardy and beauty company Talika.
Cazzato was with Victoria’s Secret for two years as head of merchandising. Previously, she was CEO of accessories and bag line Timbuk2.
