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Tuesday, May 14, 2013

A Multi-Million-Dollar Idea Born on Bed Rest while pregnant

As the chief executive officer of a multi-million dollar jewelry design company and an active philanthropist, Kendra Scott's work never stops. But when you ask this busy woman how she describes herself, she doesn't hesitate in saying, "I'm a mom first."
"I created a company that allowed me to be a mom and that was my number one priority from day one," Scott said..............
"Mompreneur" Scott came up with the idea for Kendra Scott Design about a decade ago. On bed rest while pregnant with her first son, she began tinkering with gems and making jewelry. The bold idea struck her to create her own collection. 
"I really felt like there was a white space in the market in the jewelry industry. There was very, very overpriced things that I couldn't afford at the time or very inexpensive, cheaply made that kind of fell apart when you bought it," Scott said.
A longtime fashion lover, Scott at 19 launched an online hat company called "The Hat Box," along with two retail stores in Austin, Texas. After five years, the challenges of the business proved too much and she moved on.
She decided to roll the dice again in 2002 with jewelry.
At the time she was a first-time mom with a newborn baby and a husband, who was out of work. Despite those odds, she withdrew $500 from her bank account to buy some stones and make her own jewelry. She bet on herself and created Kendra Scott Design out of the spare bedroom in her Austin home. 
"I can't tell you how many times I was told 'no.' I can't tell you how many times people said, 'Oh you'll never make it. There's so many jewelry designers out there,' " Scott said.
She first convinced local stores to carry her designs. After years of pounding the pavement, she gained traction and caught the attention of major department stores such as Neiman Marcus, Nordstrom and Bloomingdale's.
Her jewelry today is sold at more than a 1,000 boutiques worldwide. Celebrities such as Cameron Diaz, Eva Longoria and Sofia Vergara have donned her designs. With seven boutiques across the U.S. including its flagship Austin, TX store, her small business has grown to 125 people.
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