A famous fashion designer, philanthropist, and investor, Kendra Scott has been living her life wanting to make the world a better place to live. After the foundation of Kendra Scott LLC, her son was born and eventually her empire was worth more than $1 billion.
Moreover, she is driven by a lot of positive factors in life. To know more about Kendra’s life including her early life and net worth, read this post till the end.
Contents
Quick Facts
| Full Name |
Kendra Baumgartner
|
| Birth Date | March 27, 1974 |
| Age | 49 |
| Country of Origin | USA |
| Nationality |
American
|
| Profession | Fashion Designer |
| Marital Status | Married |
| Parent’s Name | Unknown |
| Spouse |
Thomas Evans
|
| Social Media Accounts: | Facebook |
| Net Worth (as of 2024) | $1 billion |
| Last Updated: | June 28, 2024 |
Early life
Kendra Scott was born in Kenosha, Wisconsin on 27th March 1974. Her family shifted to Houston, Texas when she was just 16 years old. She studied at Texas A&M University for one year but dropped out the next year to help her mother in caring for her step-father back in Austin, Texas.
It is quite heart-breaking to know that her step-father died just after some time as he suffered from brain cancer.
Personal life & Family
Kendra followed his last promises and took his words very seriously. Hence, at the very young age of 19, she started her primary business known as Hat Box. In this business, Kendra used to manufacture hats for both women and men. The main aim of this business was to provide hats to those who go through the process of chemotherapy.
Also, Scott provided a part of the total proceedings to the initiatives taken for cancer research. Even after making so many attempts during their first entrepreneurship, she had to shut down the business because of some unavoidable reasons.
Scott then decided to move ahead to recognize that she got an opportunity to grow herself personally. In 2002, with just $500 and a toddler to care for, she started jewelry designing in her store room. There were many pieces of fine jewelry in the row when she had to go from one boutique to the other in Austin, Texas to sell her jewelry pieces.
Career
By 2005, her jewelry pieces started to be showcased on various runways and fashion parades. After two years, some of her jewelry pieces were also showcased in the fashion week by Randolph Duke.
There was a sudden economical crisis, where a major part of her revenue was lost. Still, irrespective of the situation, she decided to open her store. Additionally, Nordstrom, a retail giant, asked for a good order to showcase all her pieces in various retail stores. This continued for many years.
In February 2021, Scott became the CEO of the company Kendra Scott LLC and also continued to retain her tag of Executive Chairwoman. Apart from this, several achievements in Kendra’s life have been a motivating factor for her.
How Did Kendra Scott Build Her Wealth?
Kendra Scott’s wealth primarily stems from her ownership of Kendra Scott LLC, the company she founded and holds a majority stake in.
In 2016, Berkshire Partners, a private equity firm, invested in Kendra Scott LLC, valuing the company at more than $1 billion.
Kendra Scott’s net worth can be determined by subtracting her liabilities from her assets. With her majority ownership of Kendra Scott LLC, valued at over $1 billion, her financial standing is significant.
However, it’s important to note that estimates around her net worth, such as the USD 800 million figure may not reflect her current financial situation.
Net worth
As of now, the net worth of Kendra Scott is estimated to be $800 Million and the main contributing factor to this huge net worth is her business venture. She was able to navigate the company successfully from just $500 to an estimation of more than $1 billion.
FAQs
1. How much is the Kendra Scott company worth?
The exact reports about Kendra Scott’s company suggest that it is a billion-dollar company and while Kendra reported that she is stepping down from her role as a CEO, she will still be working as the executive chairwoman.
2. How is Kendra Scott so rich?
Kendra has gained so much traction and growth in her career and has reached the level of fame and finances that she has all due to the business she owns, which specialists in different aspects like jewelry, fine jewelry, accessories, etc.
3. Is Kendra Scott an MLM now?
There have been a lot of speculations about Kendra’s company being an MLM, which she confirmed isn’t the case.
