How does a brand that initially launched in 2012 with flower crowns transform into a multimillion-dollar enterprise with a thriving DTC presence and multiple flagship stores? Through great product, a core connection to consumer interests and strategic financial planning, answered Asal Nazi, Cult Gaia’s chief financial officer. Before joining the Cult Gaia team as the brand’s VP of finance in 2020, and then as their CFO in 2023, Asal had become familiar with Jasmin Hekmat and her brand
brand from working with them as an independent consultant.
When Hekmat approached her to join the team full-time, Nazi recalled that she had also received another offer from a film production company, literally up the street from the fashion retailer’s headquarters.
Inside Retail dived into the factors that inspired Nazi to take a job in the fabulous, if hectic, world of fashion versus a top-paying job in Hollywood, and her approach to balancing the day-to-day of her role.
Inside Retail: How did you land in your current position as CFO of Cult Gaia?
Asal Nazi: At the time, I was consulting for two companies.
One was in the film business, literally up the street from Cult Gaia, and both companies offered me a position at the same time.
It’s funny to think about because, as I always tell the story, my mom is a first-generation Iranian woman. So when I went to her and told her, ‘Mom, I have two positions I have to choose from. One is a fashion business, and the other is in the movie business, and this is how much each one is offering me. She told me to pick the one that pays more.
I actually went in the opposite direction. I picked the one that made me feel good and made me feel like I can make a difference in the company.
At the same time, Cult Gaia was like a Ferrari that hadn’t been touched yet, and you could just get in and rev it up.
Also, my business philosophies align with the founder, Jasmin Hekmat, and I think that’s where the magic comes from.
IR: You mentioned you and Hekmat share several business philosophies. How would you sum up your overall approach to business?
AN: As you know, margins are important because they fund the creativity of a brand.
But the real luxury is serving the customer; we focus on building a healthy, profitable business so we can continuously give her what she wants and what makes her feel good, which too many brands forget about.
Even in our retail stores, we want to make sure every customer feels welcome in her own home and that she is part of the Cult Gaia story. If that visit turns into a transaction, that’s great, but it’s just as important that she had an amazing experience.
IR: What does a day-to-day in the life of a Cult Gaia CFO look like?
AN: I am not the typical CFO, as my days are a mix of data and design.
Mornings focus on data, numbers and meetings with the team, and my afternoons are centered around ideas.
Jasmin [Hekmat] and I can text throughout the day about bridging the analytical and the emotional aspects of the business.
As you know, Cult Gaia is a very aspirational brand, so business is not just focused on numbers. It’s all about learning what is effective and where to make changes, and I love that my day-to-day duties don’t feel boring.
IR: How do you maintain a work-life balance?
AN: It’s largely thanks to Ashley, my assistant, who schedules out my day.
But my philosophy is that there’s no such thing as balance; it’s never a perfect split. I just try to be very present in the moment.
If I’m with my kids, my two boys, I’m present with them. When I’m at the office, I’m very present with what I’m doing, and I give fully when I’m building out ideas.
I also know when to pause, reflect, and that’s how I stay clear and intentional.
IR: What piece of advice would you give to someone who’s just starting out in this industry?
AN: I would tell them that they need clarity, discipline, and focus. They also need to know their customer and their numbers to build something real.
I always say that it’s important to know your ‘why’ before you chase your ‘how’.
IR: This may be the most challenging question, but what is your current piece from Cult Gaia?
AN: Oh my God, I have so many.
So there are our holiday pieces, which just dropped, and I really love the Jamisha gown, which is so beautiful.
But what I wear every day are our Rosella jeans, which come in a variety of colors and are so amazing and easy to wear.