Biography of Kendra Scott: Founder and CEO of Kendra Scott -Entrepreneur
Kendra Scott: From Humble Beginnings to Jewelry Mogul
Kendra Scott's journey from a small, $500 investment to a
multi-million-dollar jewelry empire is a true story of perseverance and
creativity. Born in Kenosha, Wisconsin, and raised in Texas, Kendra's
entrepreneurial spirit began to take shape at a young age. After attending
Texas A&M for a year, she dropped out and moved to Austin, Texas, where her
jewelry story would begin.
Birth of an Idea
In 2002, after giving birth to her first son, Kendra found
herself frustrated with the lack of affordable, stylish gemstone jewelry.
Driven by this need, she started crafting jewelry in her spare bedroom. With
only $500 to her name, she launched her jewelry brand, making unique pieces
with color gemstones.
Hustling in Austin
Kendra's first steps to building her business were not
glamorous but full of determination. She walked door-to-door in Austin, selling
her jewelry to local boutiques. At one shop, she was forced to sell all her
sample pieces just to cover the costs of the orders she had secured that day.
It was a challenging start, but her charm and unique designs began to gain
traction.
Design Recognition and Early Success
Kendra's hard work paid off when her designs caught the
attention of major fashion figures. In 2005, her jewelry was chosen to
accessorize Oscar de la Renta's spring runway show, which gave her designs a
major boost. A few years later, in 2007, her creations appeared in Randolph
Duke’s runway show, further establishing her as a designer to watch.
Facing Financial Crisis
Despite her early success, the financial crisis of 2007-2008
nearly led to the closure of her business. Struggling to stay afloat, Kendra
received a significant break when she landed an order from Nordstrom stores.
This order provided the exposure she desperately needed, enabling her business
to grow.
First Retail Store and E-Commerce
In 2010, Kendra opened her first retail store on Austin’s
South Congress Avenue. Alongside the physical store, she launched her
e-commerce business, allowing her designs to reach customers across the
country. That same year, she introduced the Color Bar, an in-store experience
where customers could customize their jewelry, which became a hallmark of the
brand.
Expanding Beyond Austin
Kendra’s ambitions went beyond Austin, and in 2011, she
opened a store on the prestigious Rodeo Drive in Beverly Hills. Although the
store did not last long, it marked an important step in her expansion strategy.
By 2014, Kendra had opened more stores across the South and Midwest, expanding
her reach without focusing on the fashion elite in New York and Los Angeles.
A Billion-Dollar Valuation
In 2016, Kendra Scott's brand reached a significant
milestone when it was valued at over $1 billion. This was due in part to a
minority investment from Berkshire Partners, a private equity firm. The
partnership helped propel Kendra’s brand further into the spotlight,
establishing her as a serious player in the jewelry industry.
A Global Presence
By 2019, Kendra Scott’s jewelry could be found in 102 retail
stores, and her online presence had expanded significantly. Her brand's
products were not only sold across the U.S. but also in prestigious locations
such as Selfridges in London. Kendra Scott's jewelry was also available in
major department stores like Nordstrom, Neiman Marcus, and Bloomingdale's.
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Empowering Women in the Workplace
Kendra Scott made sure that her success benefited others,
particularly women. Approximately 95% of her over 2,000 employees were women,
and the company fostered a supportive, empowering environment. This commitment
to women extended to the company’s products and initiatives, making it a brand
that celebrated female empowerment.
Transitioning to Executive Chairwoman
In February 2021, after years of leading her company, Kendra
stepped down as CEO but remained deeply involved in the business as the
Executive Chairwoman. Tom Nolan took over as the new CEO, but Kendra continued
to shape the future of her brand and its initiatives.
A New Role in Philanthropy
Kendra’s entrepreneurial journey didn’t stop at business
success. She has always been passionate about giving back, especially when it
comes to supporting women and children. In 2015, she launched the Kendra Cares
Program, bringing the company’s Color Bar experience to pediatric hospitals
across the country.
Kendra Gives Back Program
In 2017, Kendra Scott’s philanthropic efforts reached new
heights with the Kendra Gives Back program. The company hosted over 10,000
events across its stores to raise funds for local causes. These events not only
raised money but also helped spread awareness about important social issues,
reinforcing Kendra's commitment to community support.
A Growing Empire
Today, Kendra Scott’s empire encompasses much more than
jewelry. The brand has expanded into fine jewelry, home decor, beauty products,
and nail lacquers. The company's range of offerings has helped solidify Kendra
Scott as a lifestyle brand, not just a jewelry company.
Investing in the Austin Community
Kendra Scott's love for her hometown of Austin shines
through in her investments. She has supported local businesses such as Helm
Boots, Tiff's Treats, and Darbie Angell dinnerware. By investing in these
companies, Kendra continues to contribute to Austin's entrepreneurial
ecosystem.
A Legacy of Design and Compassion
Through her vibrant designs and passion for philanthropy,
Kendra Scott has created a lasting legacy. Her brand continues to innovate with
its use of color and gemstones while staying committed to giving back. Kendra’s
story is one of vision, determination, and an unwavering commitment to
empowering others, making her a true trailblazer in the world of fashion and
beyond.
Timeline for story
2002: Kendra starts her jewelry brand with $500 after the
birth of her son.
2005: Her jewelry appears in Oscar de la Renta’s spring
runway show.
2007: Her designs featured in Randolph Duke’s runway show.
2007-2008: Financial crisis nearly forces her business to
close.
2008: Lands a major order from Nordstrom, boosting growth.
2010: Opens her first retail store in Austin and launches
e-commerce.
2011: Opens a store on Rodeo Drive in Beverly Hills.
2014: Expands retail stores across the South and Midwest.
2016: Brand reaches over $1 billion valuation with a
Berkshire Partners investment.
2015: Launches the Kendra Cares Program for pediatric
hospitals.
2017: Initiates the Kendra Gives Back program, hosting
10,000 events.
2019: Jewelry sold in 102 retail stores and internationally.
2021: Kendra steps down as CEO to become Executive
Chairwoman.
Present: Expands into fine jewelry, home decor, and beauty
products.
Ongoing: Continues investing in local Austin businesses and
the community.
