From Cartier to Vacheron Constantin and Tudor to Benson, these top watch brands offer timepieces for every horology enthu...
Note: This deal is is being conducted on an expedited basis due to circumstances relating to COVID-19 and pursuant to the SEC's temporary regulatory COVID-19 relief.
Our time has been held captive
In today's world, it's clearer more than ever that our time is something precious. The global pandemic has enabled many people to get a glimpse of what managing their own time could be - spending time with their families, working flexibly, and connecting with the outdoors. However, our time often seems to belong to others. A 2019 Forbes study shows that more than 50% of employees are in jobs they don't love and monopolize the majority of their day. Our time has been held captive.
Symbolic reminder to own your time
Our founder, Marcel Benson, attests that taking a chance on himself made him a better person. He quit his job with little safety net to pursue his passion for watches, and he believes that owning his time gave him a renewed sense of purpose and improved his confidence. We're cultivating a community of people who not only appreciate beautiful creations, but also share the belief that there is a much better side to life, one where life is lived on your terms. Join the movement to take back your time.
Comfort, aesthetics, and quality are our greatest priorities
Our design philosophy is that there is beauty in simplicity. We approach each of our creations with 3 priorities in mind: comfort, aesthetics, and quality.
Comfort is achieved by leveraging non-reactive materials that do not irritate the most common allergies. Also, pieces are easily adjustable to ensure each customer gets their perfect fit.
Our approach to timeless aesthetics include adding various features to the rendering and then streamlining them, challenging ourselves to reduce it down to its simplest version.
Finally, quality is maintained by conducting several rounds of quality control testing. This ensures that our pieces can be worn for years to come.
Named a top watch brand by the New York Times and experiencing 1300% growth from previous year
Benson has been in the spotlight garnering intense growth. We've partnered with Macy's and Gilt Groupe to expand our reach to a global audience. Town & Country Magazine also named Benson #7 on "Top 25 Watch Companies to Know Now" list. Publications like the New York Times and Black Enterprise think the future is bright for Benson.
Trusted by big names across the nation
Benson has accumulated quite a following since our launch. We are trusted by big names across the nation, and count Larry Smith, Lindsey Wood, and Macy's CEO Jeffrey Gennette amongst this community. Equally important has been our exceptionally positive consumer response. We've seen nothing but 5-star reviews, and are steadily growing a following dedicated to our socially conscious products.
A balanced distribution channel including retail partnerships and Direct to Consumer (DTC)
We have secured partnerships with Macy's and GILT Groupe with combined projections totaling $1,929,965.52 in additional revenue in year one. Retail will make up about a quarter of revenue in 2021. Our largest distribution channel is our e-commerce platform. Our consistent media exposure and social media ads strategy will allow us to replicate the fast-tracked growth seen over the past 12 months. We will continue improve our margins by purchasing inventory in larger quantities, effectively lowering our unit cost. Benson has amassed over 5,000 unique customers and we are poised to capture a large share of the online watch market.
Targeting the $117.8B watch and jewelry industry
The watch and jewelry industry boasts of $117.8 billion in annual revenue across the globe. We believe that our target audience makes $1.2B of that attainable for our company. The industry is projected to grow at a CAGR of 14% over the next five years. With our current traction, we project our annual revenue to surpass $15M by EoY 2022.
Studies show that nearly 40% of Millennials are abandoning age-old brands that don't fit their ethos. We're seeing this same phenomenon take place within Black and minority communities at even larger rates. From customer surveys and product reviews, we have concluded that a massive shift is taking place in consumer behavior amongst these communities. Many of our customers who were once patrons of larger brands have been delighted to make the switch to Benson.
As a result of the cultural climate in America, people of all walks of life have examined their spending. They are beginning to make more conscious decisions about where they spend their dollars. The intersection of Benson's authentic story and unique role within the industry has positioned us as direct beneficiaries of this change.
We do watches differently
When you own a Benson, you actually own your time. Benson is more than just a watch company; it's a movement. We are a black-owned brand and we believe we provide intrinsic value to a segment of our consumers in a way that our competitors don't. Customers say there's a sense of pride in wearing a Benson. Lastly, our pieces are comfortably priced and quality is never sacrificed for margin. Selling the majority of our watches directly to consumers affords us the ability to NOT cut corners.
Become a market leader: American manufacturing, expanding retail footprint, and leveraging key partnerships
Benson’s immediate goal for the future is growth and streamlining supply chain. We plan to bring manufacturing back to the United States to improve quality control and innovation. We currently offer two watch designs in a total of ten colors, and are in the development stage for a third line of watches. Other areas of growth include expanding our key retail partnerships, adding brands such as Bloomingdale's, Nordstrom, and Neiman Marcus to our sales channels.
Raising our seed round
Benson is currently raising a seed round. The majority of funds will go towards expanding our inventory as we continue to grow. Funds will also be dedicated toward growing our marketing and communications, research and development, and key personnel hires.
Over 60 years of combined experience
Marcel Benson is the founder of Benson Watch Company and a business graduate of Morehouse College. He is a former consultant of a top tier public accounting and advisory firm. After resigning from corporate, he began to establish himself as a pioneer within the watch industry. Leading the charge in Benson's upward trajectory, Marcel is committed to making Benson a household name.
Michael Houlihan is a highly sought-after business strategist, speaker, consultant, and trainer. Mr. Houlihan was the Co-Founder, President, and CEO of Barefoot Cellars, now the largest single label in the premium wine business. He bootstrapped a novelty wine brand into a national mega-brand, selling 600,000 cases per year in 50 states and 28 countries. He co-authored the New York Times Best seller, “The Barefoot Spirit,” which chronicles the brand's humble beginnings from the laundry room to the board room to demonstrate the business philosophies behind this American success story.
Mr. Brooks has extensive experience as an Event Planner, Publicist and Celebrity Booking Agent. He has advocated on behalf of many corporate and non-profit organizations to help them build and maintain positive relationships with the public. During his career, he has matched numerous celebrities and high-profile individuals with charities, designed and executed successful public relations programs, and created special events that have earned national attention for his clients.
Jillian Manus is an experienced entrepreneur, technology investor, and banking and media executive. She is currently a Managing Partner of Structure Capital VC, a seed and early-stage venture fund providing capital and marketing strategy to companies exploiting under-utilized assets and excess capacity. Jillian sits on numerous boards including: Stanford University Digital Health, Stanford University School of Medicine Board of Fellows, Advisory Board of Entrepreneurship and Innovation at Fuqua School of Business at Duke University, Nasdaq Entrepreneurial Center Board of Directors, NYU Tisch School of the Arts, and Communities in Schools.