Award-winning entrepreneur Kendra Scott is a fashion trendsetter. She started out as a hat designer but is now the face of the multi-billion dollar beauty brand, Kendra Scott, LLC. Her success has made her a guest investor on Shark Tank. Forbes.com estimates Kendra Scott’s net worth at $580 million.
early life
Kendra Scott was born in Kenosha, Wisconsin on March 27, 1974. She was the eldest daughter of a hard-working family, her mother was a cosmetics saleswoman and her father ran a law firm.
When she was 16, her family moved to Austin, Texas. There, the young girl attended Crane High School. After graduation, she fell in love with a boy and followed him to Texas A&M University.
However, they were classmates for only one year because Kendra had to go home to take care of her sick stepfather and dropped out of school at the age of 19.
Career Start
Kendra is a compassionate woman. Her first business, Hat Box, was designed to create hats for women battling cancer and undergoing chemotherapy. She donates part of the proceeds to cancer research.
Around this time, she became a mother and began to develop a passion for jewelry design. Kendra began making her first pieces of jewelry in a spare bedroom at home until she decided to officially form Kendra Scott, LLC in 2002.
The Wisconsin native launched her first collection with just $500 in savings and sold it through local boutiques. By 2005, her accessories were being chosen for fashion shows.
Commercial success
During the 2008 market crash, Kendra’s company nearly went bankrupt. Fortunately, she received a huge order from luxury retail chain Nordstrom, which saved her business. Not only did this save her company, it also allowed her to expand her brand.
In 2010, the jewelry company opened its first brick-and-mortar store and launched the Color Bar customization experience. Scott’s company has grown into a well-known lifestyle brand with more than 100 retail stores. In addition, her products are sold in more than 1,000 boutiques around the world.
In 2021, the fashion designer stepped down as CEO of the company, choosing to serve only as executive chairman. She spends her time investing in new innovative companies. She joined Shark Tank as a guest in Season 12 and will appear in Season 14 alongside other guests including Peter Jones, Tony Hsu and Gwyneth Paltrow.
Net assets and earnings
The biggest source of this business woman’s wealth is Kendra Scott, LLC, which rose to more than $1 billion when it began selling products other than jewelry.
Although she is no longer the CEO of the fashion brand, Scott still earns a considerable income from the company as a founder. As an investor, she has invested in startups such as Darbie Angell and Helm Boots. As these businesses grow, Kendra’s $580 million fortune will surely increase.
personal life
Kendra married John Scott in 2000 but unfortunately, they divorced in 2006. The couple has two sons, Cade and Beck. In 2014, Kendra tied the knot with Austin native Matt Davis. They have a child named Gray but split in 2020. The single mother currently resides in Pemberton Heights, Texas.
Categories: Shark Tank
Source: dut.edu.vn
