Kendra Scott is an American fashion designer born on March 27, 1974. She has served as CEO, COO, and now Executive Chairwoman of Kendra Scott, LLC. She was recognized as the 2017 National Entrepreneur of the Year by Ernst & Young.
Kenosha, Wisconsin is the place of Kendra Scott’s birth. When she was 16, her family relocated to Houston, Texas, where she completed her high school education at Klein. Scott “followed a boy” to Texas A&M University for a year before transferring to the University of Texas at Austin and dropping out to care for her ailing stepfather when she was 19.
Scott launched her first company, the Hat Box, to provide women undergoing chemotherapy with fashionable and functional hats. Scott made a percentage of the revenues from selling his “comfortable but stylish” items available for use in his fight against cancer. Scott had been crafting jewelry in her Austin, Texas, home for a while before she decided to go out on her own.
Kendra Scott Net Worth: How Rich Is She Now?
Kendra Scott is a fashion and accessories designer with a $500 million net worth. She is an American entrepreneur. Kendra Scott, LLC was formed by her in 2002, and she currently serves as its chairman, chief designer, and chief executive officer.
Her first boutique, in Austin, Texas, opened in 2010, and her creations were included in Oscar de la Renta’s Spring 2006 Runway show. Over $1 billion in revenue comes from fashion, fine jewelry, and home goods.
Her wares may be found in high-end department stores like Nordstrom, Bloomingdale’s, Neiman Marcus, and more, and she also operates about seventy physical stores and an online shop.
She established the Kendra Cares Program and donated $3.5 million in 2016. Scott is a participant in the Council of Fashion Designers of America. They had three children together after her 2014 marriage to Matt Davis.
How Did Kendra Scott Start Her Business?
Scott established Kendra Scott LLC in 2002 when she created her debut collection out of her spare bedroom for $500 after the birth of her first kid. She went from boutique to boutique in Austin, Texas, closing deals and selling her wares until she ran out of samples and had to buy enough raw materials to fulfill her orders.
Scott’s creations were selected in 2005 as runway accessories for Oscar de la Renta’s spring 2006 presentation. Scott’s products were also showcased during Randolph Duke’s 2007 fashion show.
She was on the verge of shutting down her business during the 2007–2008 recession, but a large order from Nordstrom saved it, and the subsequent publicity helped her launch a successful expansion.
Scott established his first retail outlet on South Congress Avenue in Austin, Texas in 2010. She found her online store and her brand’s Color Bar experience the same year.
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She launched a second shop on Rodeo Drive in Beverly Hills in 2011 but eventually had to shut it down. Scott ignored the fashion capitals of New York and Los Angeles in favor of the rest of the country in 2014, when he expanded into the South and the Midwest.
Later, in 2016, she had a minority ownership in the company appraised at $1 billion and sold it to private equity firm Berkshire Partners. Her multi-billion dollar empire includes high and low-end accessories for the home and body.
Scott finished 2019 with 102 stores. Scott’s products can be found on his website and in Selfridges in London, Nordstrom, Neiman Marcus, Von Maur, Bloomingdale’s, and more than a thousand other specialty boutiques worldwide.
She employs almost 2,000 people, of which 95% are women. Scott stepped down as CEO in February 2021, though she kept the title of Executive Chairwoman and appointed Tom Nolan to the position. Scott finances local businesses in Austin, TX, like Helm Boots, Darbie Angell, and Tiff’s Treats.