Kendra Scott Steps Down As CEO Of Her Namesake Jewelry Company

Topline

Texas jewelry tycoon Kendra Scott has stepped aside as chief executive of the eponymous jewelry company she founded nearly 20 years ago, but will remain involved with design, customer experience and philanthropic efforts, she said Monday.

Key Facts

Kendra Scott President Tom Nolan, who has been with the company for seven years, will take Scott’s place as CEO effective immediately, according to a statement, while Scott, who is the majority owner, will remain executive chairwoman.

The company’s annual sales are roughly $360 million, it told Forbes last year.

Scott was estimated by Forbes to be worth $510 million in 2020, ranking her 47th on last year’s list of America’s Self-Made Women.

Crucial Quote

“Over the last seven years, Tom has been an incredible thought partner to me and a wonderful steward of the brand,” Scott said in a statement Monday. “With Tom at my side as CEO, I can continue to focus on what I have always seen as the core of the brand—great design, strong philanthropic impact and a continued commitment to our customer.”

Big Number

 $1 billion. That’s the valuation the company was given in a 2016 investment by private equity firm Berkshire Partners. 

Key Background 

Scott founded her jewelry company in 2002 out of a spare bedroom in her home in Austin, Texas. Today, there are 110 Kendra Scott retail stores across the U.S., and the brand’s jewelry, home goods and other lifestyle products are available at department stores like Nordstrom, Neiman Marcus and independent specialty boutiques. 

Further Reading

How Kendra Scott Built A Billion-Dollar Jewelry Company (Forbes)

Jewelry Mogul Kendra Scott Joins America’s Richest Self-Made Women List (Forbes)

Speak Your Mind

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get in Touch

350FansLike
100FollowersFollow
281FollowersFollow
150FollowersFollow

Recommend for You

Oh hi there 👋
It’s nice to meet you.

Subscribe and receive our weekly newsletter packed with awesome articles that really matters to you!

We don’t spam! Read our privacy policy for more info.

You might also like

Insurer Aviva Sells Singapore Unit As New CEO Shifts...

Life and general insurer Aviva is offloading its Singapore business to a consortium led...

How Social Media Is Helping Cryptocurrency Flourish

Entrepreneur Jonathan Jadali has been watching cryptocurrency's growth since...

Congress: Fund The PPP For Small Businesses! Big Corporations—...

While Congress quarrels about additional funding for the Payroll Protection Program (PPP), many small...

Trump advisers urge delisting of U.S.-listed Chinese cos that...

WASHINGTON Trump administration officials have urged the president to delist Chinese companies that...