Giovanni Feroce and BENRUS - What it Means for RI
Wednesday, August 06, 2014
After a lengthy run of sustained, diverse successes, some leaders would be satisfied. Some might take a break and others might never return.
Rhode Island's Giovanni Feroce is not one of those leaders. From the State Senate to the battlefields of Operation Iraqi Freedom, wide-ranging and virtuous ventures have taken him around the world. However, achieving meaningful success in Rhode Island remains a driving force in his life. In fact, the man who once called a humble apartment in West Warwick home said he has made it his “mission.”
“I've had the opportunity to travel to and live in many different places, but at the end of the day, for me, there is no place I'd rather be than Rhode Island,” Feroce said.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTLast month, not long after his departure from Alex and Ani, Feroce announced the establishment of a new investment firm, GF Asset Management, and the acquisition of BENRUS, a classic, celebrated and distinctly American brand. He has since launched BENRUS, LLC, an apparel, accessories and lifestyle company based in Providence.
“In business, you always look ahead to where you're going to go, not where you've been,” Feroce said.
Next - BENRUS
Famous for its innovative and popular “Sky Chief” and “Dial-O-Rama” watches, BENRUS was once one of the most recognizable issuers of materials to the United States Armed Forces. Now, Feroce hopes to breathe new life into the once-strong brand, strengthening Rhode Island in the process.
“My goal now is to create a multi-billion dollar company,” Feroce said. “In the blink of an eye, a couple thousand jobs could be created for Rhode Islanders. For us to do that here - it could be a game-changer.”
Confident in his system and proud of his standards, Feroce believes his proven approach to business, paired with his connection and commitment to Rhode Island, will ultimately lead to improvements in a state struggling to gain any traction in its attempts to turn its economy around.
“I hope it happens on my watch,” he added with a smile, claiming no pun was intended.
“I look at being a Rhode Islander as a competitive advantage in business,” Feroce continued. “From ease of travel to our first-rate colleges and universities - these things are important. I've seen manufacturing and the success of legal immigration first-hand, for example. We have to be extremely proud of our inherent advantages - you can't be negative. Don't look at issues as problems, look at them as opportunities.”
In Providence, Feroce will serve as the chairman and chief executive officer of BENRUS, developing and implementing strategies, making major decisions and managing the overall operations and resources of the company.
Feroce also announced substantial investments in RI Local and other local businesses and causes, further extending his ties to companies and charitable organizations throughout the Ocean State.
Quite comfortable in his leading role, Feroce credits his personal, political and military backgrounds for his past, current and future successes.
Notably, the combat veteran has seamlessly implemented military strategies into his private sector operations. He highlights MDMP, or the Military Decision Making Process, as an essential procedure in the high-level planning and decision-making of any business.
“I don't shy away from my military background - I embrace the tactics and leadership traits I learned as an Operations Officer in the Army,” Feroce said. “BENRUS does not have a 'headquarters' – we have 'Central Command.'”
First Store in Charleston, S.C.
Feroce is excited to rebuild the BENRUS brand and looks forward to the early milestones in the company's growth, including the opening of its first retail store in Charleston, S.C., later this year. However, he also preaches patience, dutifully analyzing each step before operating at “battlefield speed.”
“I pride myself on studying second- and third-order effects and making the right decision - finding not only the right solution, but the best solution,” Feroce said.
“I've had the good fortune of working with people who know how I operate,” he added, noting Brigadier General David Medeiros as an example of one of his like-minded and trusted local allies in business. “I've also had the good fortune of employing people who appreciate my leadership traits. In turn, I truly appreciate the fact that they 'get it,' because I had to go to war to fully understand that.”
Though he credits good fortune, Feroce has made a conscious decision to align with those who share his views and goals, allowing his businesses to operate with trust, speed, efficiency and uniformity of direction.
Feroce's estate in Newport - Wyndham Hill - is undeniable proof that his tactics work. SEE SLIDESHOW OF THE HOUSE BELOW
His new home is a stunning three-story stone mansion, built in 1890, with 12,500 square feet of living space and sublime views of its spectacular surroundings: his own 11.5 acres of gorgeous grounds, those of elegant neighboring properties, the natural scenery of Brenton Point and the boundless beauty of the open ocean.
The highest point of Feroce's home, an upper-level deck currently being transformed into a luxurious pool, also happens to be the highest point in the entire city of Newport. As he stands atop perhaps the ultimate symbol of his success, he is understandably proud to call Newport, for centuries the preferred destination of some of the world's wealthiest individuals, his home.
“I don't believe in reinventing the wheel,” Feroce said. “Many of the most successful people in history came here - to Newport, to Rhode Island. I feel that – and I feel like I've succeeded. The best athletes win a gold medal, but this property is my trophy.”
A Tesla Model S, the world's first premium electric sedan, sits in Feroce's driveway, awaiting the dapperly dressed executive. When he begins the trek toward the capital city and his new company's Central Command, he knows - citing his own story - that dreams can be achieved in Rhode Island with the right combination of systems, standards and confidence.
Though he certainly has much to enjoy in the future, Feroce plans to operate with “laser focus” on BENRUS, estimating that he will be heavily involved with the company for the next three to five years as he works toward his next success, which he hopes will be his greatest yet.
“I feel healthy and strong,” Feroce said. “I'm going to keep going because I know I can still lead. When I no longer can – that's when I'll sit back, reflect on my accomplishments and share my successes with family, friends and my home state.”
NOTE: The contributor is Frank Chrupcala, RI Local Magazine
Related Slideshow: Newport’s Wyndham Estate in Photos
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