After CEO Shakeup, Colibri Looks Ahead

Following the appointment of Jim Fleet as chief executive officer of The Colibri Group, the company said in a statement that it is focusing on its heritage as a brand leader in men’s and women¹s jewelry, accessories, and clocks.

Fleet replaced Thomas Bendheim, president and CEO, who resigned from the Providence, RI.-based company Oct. 31 due to “differences of opinion on the future direction of the company.”

“The plan remains the same today as it was when the current ownership bought the company—grow The Colibri Group into a global, branded-consumer-products company that provides value to its customers, employees, business partners, and stakeholders,” Fleet said.

Fleet said significant investments made by the company in 2007 will fuel much of the growth. Key initiatives, such as a new business-to-business e-commerce Web site, will secure its commitment to bringing first-class service to retail partners on a 24/7 basis.

Fleet said the company will transfer most of its operations from buildings in Cranston and Providence to a single, larger, modernized facility in nearby East Providence.

“Centralization will allow us to enjoy better and faster communication between branches of the organization,” Fleet said. “For the first time in a decade, our sales, marketing and service departments will operate out of the same building, working more closely and efficiently.” says Fleet. Manufacturing capabilities will remain in the current location in Providence.

After a rich history as an entrepreneurial business, the company was sold to a group of private equity firms in 2005. Expectations for the company’s future were raised and remain high, Fleet said.

“We are on solid financial ground, with strong ownership that is committed to accomplishing our growth mission,” Fleet said. “Currently we are busy fulfilling holiday season orders. Our delivery systems are sound and continue to improve. The new facility includes a larger distribution center. This increase in capacity will allow us to better and more quickly respond to the needs of our national chain accounts, without any sacrifice to the thousands of independent retailers we serve each day. Taking care of our customers is essential. They represent the life of the company, and we cannot forget that.”

The Colibri Group designs, manufacturers, and markets branded jewelry, lighters, accessories, and clocks. The company’s portfolio of brands includes Colibri, Seth Thomas, Dolan Bullock, Daring Diamonds, and Krementz®. In addition, the company has licenses and distribution agreements with S.T. Dupont, Movado, Disney, Nickelodeon, and Crayola. The company sells its products though 20,000 customer outlets throughout the U.S., which include major national chains and independent retailers,  and broad-based international distribution.