Feroce Launches BENRUS Watch Company - Will He Be the Comeback Kid?

GoLocalProv Business Team

Feroce Launches BENRUS Watch Company - Will He Be the Comeback Kid?

BENRUS Store Interior
Giovanni Feroce, who teamed with Carolyn Rafaelian to grow Alex and Ani from sales of $4 million to more than a reported $220 million in 4 years, then left the company, is now back with a new venture - BENRUS. The BENRUS company has a rich legacy as a military watch company, but under Feroce the company is being built into a broader lifestyle brand.

Feroce describes the acquisition as a multi-million dollar transaction. 

Legacy 

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The legacy of the watch company goes back to 1921, when three brothers Benjamin, Ralph, and Oscar Lazarus of Romanian descent founded the watch company that went on to be the watch of choice to the U.S. military during World War II.

Feroce, an Army veteran, tells GoLocal, "When the opportunity presented itself, it was obvious that we (BENRUS and me) were a perfect match.  I am extremely proud to have served our country as a member of its armed forces.  As someone who is often approached to speak to groups with respect to my military management system and style, I am additionally pleased to run BENRUS as a brand that will remind people of our great nation's people and capabilities.


Since 1921
"The 1940s saw huge growth for the company.  As America entered the Second World War, there was a huge demand for support.  Because of their innovation and superior quality, BENRUS was given top secret government contracts.  Contributions of ingenuity included manufacturing one of the first ever waterproof watches which became standard issue for World War II era frogmen.  The employees of the Waterbury, CT Plant were honored with the Army-Navy “E” Award for their outstanding production of war materials."

Impact on Rhode Island

BENRUS will be headquartered in the Fox Point area of Providence, RI.  Feroce, who built Alex and Ani as a Made in America company which created more than 1,000 jobs in Rhode Island, said, "We will manufacture what we can in the U.S., with the hope that we can manufacture everything someday here as well, but I am realistic that it could take a few years in certain categories."

Store Exterior
BENRUS First Location

The first retail location will be in Charleston, South Carolina and Feroce said, "I hope to have a half dozen retail locations by 2015." 

"I am really focusing on 2015 forward as far as sales, so my hope this year is to get the organization going here at our new headquarters in Providence, get a retail store or two open and a solid website that can perform for the holidays," Feroce told GoLocal. 

"Our first retail products to hit the shelves are backpacks.  Nordstrom and Urban Outfitters, just to name a few of our wholesale partners, are proudly selling them now."  

Major Feroce
Experience in the Military 

Feroce is a veteran of Operation Enduring Freedom and Operation Iraqi Freedom.  He received a Combat Action Badge in 2004 for his actions in Iraq protecting the lives of FBI personnel for whom he had tactical control over, by calling in Bradley Fighting Vehicles to eliminate an insurgent attack.  Originally entering the military as an enlisted Private, he received his commission through the University of Rhode Island's ROTC program and retired in July 2010 as an Army Major.


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