Kendra Scott is ready for a new partner.
Berkshire did not immediately respond to a query on Thursday.
Scott, who founded the company in a spare bedroom with $500 of seed money in 2002, is still the company’s largest shareholder and remains active in the business as executive chairwoman and chief creative officer. She is heavily involved in the company’s designs, new products and new businesses, including the January launch of the Yellow Rose by Kendra Scott brand, which now has a shop-in-shop in the brand’s flagship in Austin’s South Congress neighborhood.
Scott handed over the position of CEO in 2021 to Nolan, who had been president and has helped continue to grow the company. Kendra Scott has a total of 134 stores, with plans to open six more this year, for a total of nine new doors in 2023. Sales have been growing by a percentage in the mid-teens since 2020 and are on track to hit roughly $500 million this year, representing nearly double-digit growth for 2023.with 30 percent from e-commerce and 15 percent from wholesale.
“At Kendra Scott, we’ve built a strong and loyal customer connection through our philanthropy efforts and the 15,000 charitable organizations we partner with across the country,” the CEO said.
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