Award-winning entrepreneur Kendra Scott is a fashion trendsetter. She started as a humble hat designer, but now is the face of the billion-dollar beauty brand Kendra Scott, LLC. Her success helped her become a guest investor on Shark Tank. Forbes.com estimates that Kendra Scott has a net worth of $580 million.
Early Life
Kendra Scott was born on March 27, 1974, in Kenosha, Wisconsin. She is the eldest child in a hardworking family, her mother was a cosmetics sales lady and her father ran a law firm.
When she turned 16, her family moved to Austin, Texas. There, the young lady attended Klein High School. After graduating, she fell in love with a boy and followed him to Texas A&M University.
However, they were only schoolmates for one year because Kendra had to go back home to take care of her sick stepfather and dropped out of college at 19.
Career Beginnings
Kendra is a compassionate woman. Her first business venture, Hat Box, was built to design hats for women battling cancer and undergoing chemotherapy. She donated some of her earnings to cancer research.
Around this time she became a mother and developed a fondness for designing jewelry. Kendra started making her first pieces at home in a spare bedroom until deciding to officially launch Kendra Scott, LLC in 2002.
The Wisconsin native used only $500 in savings to release her first collection, which she sold by going to local boutiques. By 2005, her accessories were chosen to be on runway shows.
Business Success
During the 2008 market crash, Kendra’s company almost went out of business. Fortunately, her business was saved when she got a massive order from the luxury retail chain Nordstrom. Not only did it save her company, but it also allowed her to expand the brand,
In 2010, the jewelry firm opened its first brick-and-mortar store and introduced the Color Bar customization experience. Scott’s company evolved into a well-known fashion brand with over 100 retail locations. Plus, her products became available in more than 1,000 boutiques worldwide.
In 2021, the fashion designer stepped down as the CEO of her company, choosing to only be an executive chairwoman. With this, she spent 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 such as Peter Jones, Tony Xu, and Gwyneth Paltrow.
Net Worth and Earnings
The business woman’s biggest source of wealth is none other than Kendra Scott, LLC. When the firm started selling products outside of jewelry, its value rose to over $1 billion.
Although she is no longer the CEO of her fashion brand, Scott still earns a considerable sum from the firm as its founder. As an investor, she has invested in startups like Darbie Angell and Helm Boots. When these enterprises grow, Kendra’s $580 million fortune will surely increase.
Personal Life
Kendra married John Scott in 2000 and sadly they got divorced in 2006. The couple was blessed with two boys, Cade and Beck. In 2014, Kendra tied the knot with Austinite Matt Davis. They had one child named Grey, but split up in 2020. The single mother currently resides in Pemberton Heights, Texas.
