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Kendra Scott CEO Tom Nolan Shares Company’s Success Amid Covid and Expansion into Luxury Market July 16, 2023 (0 comments)


Austin, TX--Tom Nolan, CEO of billion-dollar jewelry company Kendra Scott, has reiterated in a podcast the brand's continued bullishness on retail, even through the Covid-19 pandemic. Nolan, a former Ralph Lauren and Condé Nast veteran, joined Kendra Scott's board of directors in 2015 before becoming CEO in 2021 from the company's founder, Kendra Scott.

[Image via Glossy]

Nolan discussed Kendra Scott's growth in a podcast by Glossy, saying the brand has ventured into the luxury jewelry market and continues to expand its retail presence. By the end of July, Kendra Scott plans to have 134 stores across 35 states. These stores account for 50% of the company's sales and double as event spaces. Last year, 128 Kendra Scott stores hosted a total of 20,000 events.

The podcast revealed that despite his initial hesitation to move his family to Texas, Nolan was convinced by a philanthropy event held by Kendra Cares. The philanthropic arm allows customers to create products brought to hospitals, businesses, and schools. Nolan was deeply moved by these events' positive impact on communities and saw it as a unique opportunity to combine business and philanthropy.

The brand has been successful in its foray into the luxury market. When launching higher-priced items, Kendra Scott's strategy is to start with its core customers, who are familiar with the brand and its quality. However, they've also seen that their value proposition appeals to new customers looking for quality products at more accessible prices.

With a leadership approach grounded in humility, curiosity, and vulnerability, Nolan believes that acknowledging mistakes and learning from them has been instrumental in his career journey and the brand's success. He has also emphasized the importance of being a "servant leader," making people feel heard and involved in the process.

Read the transcript and listen to the entire podcast published by Glossy.

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