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Kendra Scott: Kendra Scott

Kendra Scott: Kendra Scott

March 20, 2017

42m

Episode Ranking: 21/100

TOPICS: Entrepreneurship

Episode Description

Kendra Scotts Billion-Dollar Jewelry Brand How Kendra Scott built her jewelry empire from a home-based startup.

Ideabrix Summary

The 'How I Built This' episode featuring Kendra Scott begins with her childhood in Kenosha, Wisconsin, where her interest in fashion was sparked by her aunt's glamorous job at Gimbels Department Store. Kendra's early exposure to the world of style and design led her to experiment with fashion, even styling her mother and reassembling antique jewelry. Her family's move to Houston following her parents' divorce and her subsequent enrollment at Texas A&M were pivotal moments in her life. However, her stepfather's cancer diagnosis prompted her to leave college and move to Austin, where she started her first business, a hat store called 'The Hat Box,' catering to women undergoing chemotherapy. Despite her passion and efforts, the business eventually failed, teaching Kendra valuable lessons about entrepreneurship.

Kendra's journey continued as she married, had her first son, and realized the need for a career that could accommodate her new role as a mother. Returning to her love for fashion, she identified a gap in the jewelry market for affordable, quality gemstone pieces. With a $500 investment, she created her first jewelry collection from her spare bedroom. Kendra's hands-on approach and determination led her to sell her line store-to-store in Austin, eventually gaining traction and expanding her reach through a showroom in Dallas. The big break came when she secured a $75,000 order from a retail chain, which required her to outsource production and scale her operations.

As the business grew, Kendra faced the challenge of the 2008 recession, which threatened many of her wholesale accounts. Faced with the potential collapse of her company, Kendra made the bold decision to pivot from wholesale to direct-to-consumer sales. She opened her first retail store, which offered a unique and interactive shopping experience, including a customization bar. This innovative approach, coupled with an engaging online presence, propelled the brand's growth, leading to multiple retail locations and partnerships with major department stores.

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