Bossing a $1bn Jewelry Firm from $500 Business

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Kendra Scott the CEO and a Designer/kendrascott

As she was heavily pregnant, Kendra Scott was low on cash and rose up to amicably find a way of making more money.
Kendra Scott was born and raised in the midwestern US state of Wisconsin. She was a school drop out of Texas University and was in her 20’s when she had only $500 of her savings to get her business up and running.

From her home, Austin, Texas, she awaited so much for the birth of her firstborn child, and in this situation, she kept designing jewelry in her first husband’s spare bedroom. She gave a birth to a son with whom she went to sell the earrings and other items.

Now at 44, she explained how she used to go out with her infant baby strapped in a baby carrier to make some money out of jewel sales, having jewelry samples in the tea box. She walked door to door and sold in the first days. This opened the doors for her to start a business.

From her set up business, she used to make hats for women going through chemotherapy for the first two years. This was an inspiration she got from her stepfather’s battle with cancer, donating profit portions to the local hospitals. She opened other outlets of her own as she dealt with wholesale products, unlike initially when she used to supply to other shops. This was another stepping stone for her.

Despite her personal life matters, she was bolstered by getting good people who helped her grow the Austin-based business. This jewelry start-up idea came up when she realized there is a large gap in the market. Most of the jewels were either cheap or expensive.

With her eponymous company, Kendra Scott runs is valued at not less than $1bn, and Ms. Scott’s personal wealth is estimated at $500m. She made it to Forbes magazine’s 2017 the list of the richest self-made women in the US, occupying the 36th position, above the likes of Beyonce and Taylor Swift.

Kendra Scott’s FIRST plan was to produce the quality gemstone pieces that women will be happy and comfortable with, at an affordable price. No matter the financial status, as long as she feels confident and beautiful, that’s it.

Her strategy of having a strong and talented team of people to help grow the business was achieved and she still bears the original employees who are still with her today. The company so far has its retail branch at Austin. Ms. Scott created an experience that was so warm, interactive and most of all fun, to dispose of the negative thoughts of intimidation about jewelry.

At Kendra Scott stores, customers are encouraged to pick up and try jewels, even the shoppers can design their own pieces from the stores by mix marching gemstones with different necklaces, bracelets, earrings, and rings.

With over 80 retail stores all over the US, Kendra Scott business is stinging all over globally through their websites and their jewelry stored overseas in London by the likes of Selfridges. With Ms. Scott being the majority owner, the company is stinging 2,000 workers with 96% being women.

Karen Giberson, the president of Accessories Council, a body representing fashion accessory brands, says, “She defies the trend. Kendra is like a unicorn in our industry. If you look at it, you are left thinking why is this brand on fire when others are struggling?” You can do it too.#Rewordit

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