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SARASOTA -- Obscene Jeans Corp. named Paul Watson its new CEO on Wednesday. Watson replaces Rachel Stark-Cappelli, who will remain with the company as lead fashion designer, two months after she replaced Robert Federowicz at the head of the company.
Watson is a former member of KPMG's Corporate Finance team in China, a release says, where he helped develop capital arrangements involving between $60 million and $100 million in funds. In 2009, he founded Hermes Investment Group, a bank connecting Asian companies with North American investors.
Obscene Jeans' newest CEO takes over a business that appears to lack a cohesive identity. In July, then-CEO Federowicz said he imagined Obscene Jeans eventually diversifying its line of products to include hair care products, and even personal electronics (see “Denim Divas,” July 29, 2011). In October, Stark-Cappelli said her company would begin investing in social media analytics.
In a July 13 SEC filing, Obscene Jeans said it would need $500,000 to cover expenses for the following 18 months of business. The first phase, $150,000, would be used for design, while $350,000 would go partially toward production, sales and marketing.
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