Kendra Scott Net Worth: Did She Get Married Twice?

By Jivika Last updated Oct 21, 2022

American fashion designer Kendra Scott. She served as the company’s executive chairwoman, chief designer, and former CEO. In 2017, she was recognised as the National Entrepreneur of the Year by Ernst & Young.

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Early Life and Career

In Kenosha, Wisconsin, Kendra Scott was born. Her family relocated to Houston, Texas, where she attended Klein High School until she was 16 years old. Scott “following a boy” to Texas A&M University where she fell in love and spent a year before leaving at age 19 to move to Austin, Texas, to assist with her ailing stepfather.

The Hat Box, a company Scott founded, specialises in cosy hats made specifically for women undergoing chemotherapy. Scott raised money for cancer research by selling “comfortable yet fashionable” items.

Scott started producing jewellery at home in Austin, Texas, before opening her own company.

Net Worth

Kendra Scott has a net worth of $500 million. She is an American entrepreneur and fashion and accessory designer. In March 1974, Kendra Scott was born in Kenosha, Wisconsin. She started Kendra Scott, LLC in 2002, and currently holds the positions of chairman, chief designer, and CEO. Her first retail business launched in Austin, Texas, in 2010, and her creations were showcased in Oscar de la Renta’s Spring 2006 Runway Show. Her brand currently sells exquisite jewellery, couture, and accessories for the house, and it is worth more than $1 billion.

Her products are available at stores including Nordstrom, Bloomingdale’s, Neiman Marcus, and others. She has over 75 brick-and-mortar stores and an online store. She is also a philanthropist who established the Kendra Cares Program and donated $3.5 million in 2016. The Council of Fashion Designers of America counts Scott among its members. She wed Matt Davis in 2014, and the couple has three kids.

Kendra Scott, LLC Business

Scott created her first collection with $500 in the spare bedroom of her house shortly after giving birth to her eldest son, and she launched Kendra Scott LLC in 2002. She sold to local boutiques while she moved from store to store across Austin. At the final boutique, she had to sell all of her samples in order to buy enough materials to fill the orders she had placed on the first day.

Scott’s creations were chosen in 2005 to adorn Oscar de la Renta’s spring 2006 catwalk presentation. The 2007 runway show for Randolph Duke featured Scott’s designs as well.

She was on the verge of having to shut down her business due to the financial crisis of 2007–2008, but she acquired a contract from Nordstrom for some of their stores, which gave her exposure and helped her to grow her company.

2010 saw the opening of Scott’s first retail location on South Congress Avenue in Austin. She started her online store and introduced the Colour Bar experience for the brand in the same year.

She opened a second store on Beverly Hills’ Rodeo Drive in 2011, but she eventually had to close it. As the fashion elite in New York and Los Angeles were ignored in 2014, Scott built stores all across the South and Midwest. Later, in 2016, she offered a $1 billion minority ownership in her business to the private equity firm Berkshire Partners.

Her brand, which is worth over $1 billion, includes fine jewellery, home furnishings, nail lacquer, and cosmetics.

Scott had 102 retail locations as of the end of 2019. In addition to an online store, Scott’s products are offered in more than 1,000 specialty stores across the world, including Selfridges in London, Nordstrom, Neiman Marcus, Von Maur, and Bloomingdale’s. She employs more than 2,000 people, and 95% of them are women. In February 2021, Scott appointed Tom Nolan as the new CEO of Kendra Scott while keeping her position as Executive Chairwoman.

Helm Boots, Darbie Angell tableware, and Tiff’s Treats are just a few of the Austin, Texas-based businesses that Scott invests in.

Personal life: Did She Get Married Twice?

On June 24, 2000, Kendra Scott, formerly Baumgartner, wed John Scott. Before getting divorced on August 22, 2006, they had two kids. In Sedona, Arizona, on June 6, 2014, Scott wed again to Matt Davis. They are divorced as of September 2020 and have a single child together.

Philanthropy

Scott is a kind man who has previously backed projects for kids and women. The Kendra Cares Program, which Scott introduced in 2015, provides the company’s personalised Colour Bar jewellery experience to children’s hospitals around the nation. In 2017, Scott’s business sponsored over 10,000 Kendra Gives Back events at her retail locations. She donated the funds to neighbourhood initiatives and more than 75,000 pieces of jewellery.

The Kendra Scott Women’s Entrepreneurial Leadership Institute was established in 2019 thanks to Scott’s $1 million donation to The University of Texas. Her company’s programme has distributed $30 million since 2010 to charity.

Recognition

Scott received the Breakthrough Award from the Accessories Council Excellence Awards as well as the EY Entrepreneur of the Year 2017 National Award. She has received numerous awards, including Outstanding Mother of the Year from the Mother’s Day Council, Texas Businesswoman of the Year from the Women’s Chamber of Commerce, Top 100 Entrepreneurs of the Year from Upstart Business Journal, and 2017 CEO of the Year from the Austin Business Journal. She is ranked as number forty on Forbes’ 2019 list of America’s Richest Self-Made Women.

She belongs to the Council of American Fashion Designers.

2019 saw her admitted into the Texas Business Hall of Fame, making her the state’s 12th female inductee.

Scott was appointed by Governor Greg Abbott to the Strike Force to Open Texas in April 2020. This organisation was created in the midst of the COVID-19 outbreak “to develop safe and effective strategies to gently reopen the state.”