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Benson Watch Company isn't accepting new investments

Benson Watch Company’s deadline was October 1, 2021

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Logo of Benson Watch Company

Benson Watch Company

Own your time
Black Founders B2C Fashion
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Featured image of Benson Watch Company
$396,436
Raised
924
Investors
Successfully funded and closed on October 1, 2021.
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Pitch Updates 8 Reviews 230
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Closed on October 1, 2021. Information may not be up-to-date. Campaign closed on October 1, 2021. Information displayed may not be up-to-date.
Problem Solution Product Traction Customers Biz. model Market Competition Vision and strategy Funding Founders
About Team Press

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Benson Watch Company, LLC. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Benson Watch Company Crowd SAFE Benson Watch C:A.pdf
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Hear from some of the 924 investors in Benson Watch Company


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Highlights


$500K+ revenue
Company had over $500K in revenue in the past 12 months
Profitable
Company has been profitable for the past 6 months
  • Named a top watch brand by New York Times
  • Currently profitable with projected revenue of $15M in 2022
  • Retail Partnerships with Macy's and Gilt Groupe
  • 1 of 10 businesses accepted into 2018 Macy's Workshop Incubator
  • Guest Speaker at Inhorgenta Watch Conference 2020 in Munich, Germany
  • Celebrity Customers
  • $117.8B+ TAM

Problem


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. 

Solution


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.

 

Product


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.

Traction


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. 

Customers


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. 


Business model


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.


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.   

Competition


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.


Vision and strategy


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.  

Funding


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. 

Founders


Over 60 years of combined experience

Marcel Benson

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

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.

Taroue Brooks

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

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. 

Deal terms


Valuation cap

$6,500,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

20%

If a trigger event for Benson Watch Company occurs, the discount provision gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.

Minimum investment

$250

The smallest investment amount that Benson Watch Company is accepting.
Learn more

Funding goal

$1.07M

Benson Watch Company must achieve its minimum goal of $25K before the deadline. The maximum amount the offering can raise is $1.07M.
Learn more

Deadline
Benson Watch Company needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Benson Watch Company, LLC. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Benson Watch Company Crowd SAFE Benson Watch C:A.pdf

Why others invested

See all reviews (0) See all (0)

The Ownership and Management are strong, the financials are stable and I believe in placing my money in companies that support my values are important. I believe Benson Watch Co. will become a household name.

Profile picture of Michelle Coates
Michelle Coates
Investor
over 2 years ago

I liked the product and I was impressed with the presentation. I plan to continue to invest in the company as additional crowdfunding efforts move forward, anticipating the growth of vision and financials from a creator of fine watches. Not only did I invest but I bought two watches and the accompanying bracelet- a cardinal one for my Delta meetings and an emerald one for my Link meetings. I need to help this company grow!

Profile picture of Charlotte Freeman
Charlotte Freeman
Value-add investor
over 2 years ago

I learned about the Founder and his story. I am a lover of fine watches like the Founder. I had an opportunity to chat with him and found him laser focused, serious, well informed, and dedicated to making his company a premiere brand.

Profile picture of shawn bartley
shawn bartley
Value-add investor
over 2 years ago

About Benson Watch Company

Legal Name
Benson Watch Company, LLC
Founded
Jan 2015
Form
Maryland LLC
Employees
0
Website
bensonwatch.com
Social Media
Headquarters
Google Map location of of Benson Watch Company
4611 Assembly Drive , Lanham, MD
Headquarters
4611 Assembly Drive, Lanham, MD, United States 20706

Benson Watch Company Team
Everyone helping build Benson Watch Company, not limited to employees

Profile picture of Marcel Benson
Marcel Benson
Founder
Featured in Superheroes · Read
Profile picture of Laura Davidson
Laura Davidson
Customer Relations
Profile picture of Steve Krakower
Steve Krakower
Marketing Lead
Profile picture of Quincy Benson
Quincy Benson
Warehouse Management
Profile picture of Emily  Bauer
Emily Bauer
Marketing Associate
4 more team members
Marcel Benson
Founder
Laura Davidson
Customer Relations
Steve Krakower
Marketing Lead
Quincy Benson
Warehouse Management
Emily Bauer
Marketing Associate

Press

The Top 25 Watch Brands To Know Now
Town & Country Town & Country
·
Oct 30, 2020

From Cartier to Vacheron Constantin and Tudor to Benson, these top watch brands offer timepieces for every horology enthu...

Black-Owned Watch Brands Rising
Nytimes Nytimes
·
Oct 12, 2020

Owners say the #BuyBlack movement and digital strengths have spurred sales. Black-owned watch brands are having an unprec...

How One Entrepreneur Used Timing, Passion, and A Deal Wit...
Black Enterprise Black Enterprise
·
Dec 13, 2019

For Marcel Benson, passion, timing, and a lucrative partnership with Macy's have kept his eponymous watch company ticking...

Watch designer Marcel Benson shares business journey to M...
Rolling Out Rolling Out
·
Nov 25, 2019

Marcel Benson, the founder of Benson Watch Company, designs beautiful timepieces meant to inspire people to spend their t...

Marcel Benson and His Watches That Inspire
HuffPost HuffPost
·
Jul 17, 2017

In February I mentioned the importance of highlighting more Black men who are out here building businesses and creating l...

#ReInspire: INHORGENTA TRENDFACTORY goes digital
INHORGENTA MUNICH INHORGENTA MUNICH

Welcome to INHORGENTA TRENDFACTORY #ReInspire - the new digital knowledge and trend platform for the interactive exchange...

Executive Education | Time for Success: Marcel Benson
Dartmouth Dartmouth

"I've been quietly studying horology myself," says Marcel Benson, CEO and founder of the Benson Watch Company. "I'm about...

Show all
Logo of Benson Watch Company

Benson Watch Company

Benson Watch Company successfully raised $396,436 from 924 investors on October 1, 2021
Profile picture of A. Jacob Tarau
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Profile picture of Michelle Moore
Profile picture of Charlotte Freeman
A. Jacob, Shandra, Amber, Michelle, Charlotte, and 919 others invested. 230 Reviews

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