February 2017Berkshire Partners Completes Investment in Kendra Scott
Boston, Massachusetts – February 1, 2017 – Berkshire Partners, a Boston-based investment firm, announced today that it completed its investment in Kendra Scott Design, Inc. (the “Company”), a leading fashion accessories brand. Founder and CEO Kendra Scott will continue as majority shareholder and the Company’s other senior leaders will remain in their current positions, focused on growing the brand’s omnichannel presence.
Founded in 2002 in Austin, Texas, the Company offers customers a unique collection of jewelry, accessories, home goods and beauty products. Today, the Company has a significant e-commerce presence, more than 50 retail stores across 21 states and relationships with over 600 specialty boutiques, as well as leading national retailers such as Neiman Marcus, Nordstrom and Bloomingdale’s. Guided by the pillars of “family, fashion and philanthropy,” Kendra Scott is a widely loved brand that is centered around a culture of giving back.
“Kendra founded the Company with a vision of deeply connecting with customers and local communities. We are impressed by how the Company’s management team has fostered this meaningful connection and driven dramatic growth of the business,” said Kevin Callaghan, a Managing Director at Berkshire Partners. “We look forward to supporting Kendra and her team as they continue to build the Kendra Scott brand.”
“We are excited to partner with the Berkshire team,” commented Kendra Scott. “Their expertise in working with consumer and fashion brands, their collaborative culture and their long-term approach to investing are a great fit for our Company.”
Norwest Venture Partners and Capstar Partners will continue as investors in the Company.
About Kendra Scott Design
Kendra Scott is a leading fashion accessories brand inspired by the personal experiences, travel and sense of community of its CEO and Designer, Kendra Scott. A true omnichannel business, Kendra Scott is sold at premier retailers including Neiman Marcus, Nordstrom, Bloomingdale’s, Von Maur and over 600 specialty boutiques worldwide. Additionally, the brand boasts a thriving web business and over 50 standalone retail stores across the United States. The brand is well known for its comprehensive suite of elegantly designed jewelry pieces as well as lifestyle categories such as beauty, home goods and fine jewelry. The brand also offers the Kendra Scott Color Bar™, an innovative jewelry customization experience available in all Kendra Scott stores as well as www.KendraScott.com.
Kendra Scott has become a staple for women of all ages, as well as a favorite of Hollywood’s celebrities. As the brand continues to grow, the company remains true to its founding philosophy of “Family, Fashion, Philanthropy” and “Kendra Gives Back: You Shop, We Give” initiatives to benefit both local and national charities across the country.
About Berkshire Partners
Berkshire Partners, a Boston-based investment firm, has made over 115 investments since its founding in 1986 and has raised nine private equity funds with more than $16 billion in aggregate capital commitments. Berkshire has developed industry experience in several areas including consumer and retail, communications, business services, industrials and healthcare. Berkshire has a strong history of partnering with management teams to grow the companies in which it invests with the goal of consistently achieving superior investment returns. Other investments in the retail sector have included Aritzia, Bare Escentuals, Carter’s, Party City and Portillo’s. For additional information, visit www.berkshirepartners.com.
Source: Business Wire
Title: Berkshire Partners Completes Investment in Kendra Scott
Date Published: February 1, 2017
Date Accessed: February 1, 2017