Alex and Ani CEO Says Lack of Complete Name Change Was Fatal Flaw for J.C.
Penney's Ron Johnson
It's All in the Name
PROVIDENCE, RI -- (Marketwired) -- 05/14/13 -- Giovanni Feroce, CEO
of Alex and Ani, LLC, one of America's fastest growing privately
owned companies, insists a critical step in the transformation of
J.C. Penney was missed. "I do not necessarily think Ron Johnson
[former CEO] was going in the wrong direction," said Feroce, "I do
however, think he missed the most critical of steps, which was
renaming J.C. Penney entirely."
Feroce noted that the former Apple Store CEO was on a path to
transform J.C. Penney into a boutique department store, such as El
Corte InglÃ©s, Spain's largest department retailer, which features top
brands selling at shop-within-a-shop environments. He stressed, "A
brand like Alex and Ani would not be a good fit in J.C. Penney's
current environment but would potentially be a fit in a properly
J.C. Penney, known to millions as a discount retailer, lacks the
attractiveness for today's well-known brands to create a proper
branded experience. "I am confident," said Feroce "if J.C. Penney was
completely renamed by Ron Johnson, the model could have worked."
Feroce is among other CEOs and media resources to publicly provide
advice to an American icon that has been in a steady decline for the
past few decades and who, in response to its recent fall, has
returned to the past for its leadership. When asked about the
leadership change, Feroce politely responded without comment. Feroce,
a University of Pennsylvania, The Wharton School and University of
Rhode Island alumnus, former Rhode Island state senator and combat
army veteran is a 'Generation X' CEO who is leading Alex and Ani's
rapid growth expansion plans both domestically and internationally.
Known for his military leadership style, Feroce believes a successful
business model includes leaders who embrace change and look to the
future, rather than dwelling in the past.
Alex and Ani has already begun making its own mark in history,
becoming the world's fastest growing lifestyle brand. Alex and Ani
currently operates 30 retail stores in 15 states and is present in
over 1,100 other retailers nationwide.
About Alex and Ani
Alex and Ani, LLC offers eco-friendly, positive energy products
created by Designer Carolyn Rafaelian, Founder and Creative Director.
Alex and Ani is synonymous with Made in America. Its World
Headquarters are located in the Greater Providence, Rhode Island
area, where its products are designed, manufactured, and assembled
using recycled local materials. Carolyn believes that every
individual has a positive message to share with the world and that,
by incorporating powerful symbolism and design into each positive
energy piece, Alex and Ani provides a vehicle for wearers to express
their individuality. An Inc. 500 Company, Alex and Ani has retail
stores in addition to retail partners both domestically and
internationally. Please visit www.alexandani.com for more
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Alex and Ani, LLC
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