Kendra Scott is now a full-fledged jewelry store. The Texas jeweler said Monday that it’s adding a big category missing from its lineup: engagement rings.
The addition of the rings comes just a month after Kendra Scott launched its first collection of watches and watch bands for the Apple Watch. In recent years, founder Kendra Scott has expanded into men’s jewelry, home accessories and gifts. She has also entered into collaborations, most recently with Dallas-based Balfour & Co., to create licensed collegiate and Greek fraternity and sorority jewelry. Kendra Scott has been popular for sometime with college students.
In its 20th year in business, the Texas entrepreneur’s company has evolved from selling earrings out of her home into a powerhouse brand with more than 100 stores. Her designs are also sold online and at major retailers such as Neiman Marcus, Nordstrom, Bloomingdale’s and 600 specialty boutiques.
Kendra Scott is already a destination for brides and for personalized bridesmaids’ gifts. Engagement rings are a natural next step, the company said.
“When creating this collection, we challenged ourselves to consider every detail. Fundamental to our design process, each ring can be customized,” said Scott, who remains executive chairman and majority owner after giving up her CEO title in 2021 to Tom Nolan.
Scott said she is keeping her brand’s emphasis on innovation by deciding to use lab-grown diamonds, which are gaining acceptance as alternatives to mined diamonds. Luxury watchmaker TAG Heuer unveiled a watch last month with lab-grown diamonds. The affordability and accessibility of lab-grown diamonds was also part of the decision, the company said.
The Engagement Collection by Kendra Scott is priced from $1,350 to $8,150 with diamonds in weights of 0.5 to 2 carats in settings of 14k white, rose or yellow gold. Purchases are custom-ordered and delivered in three weeks.
The rings will be available initially online and in Dallas at the company’s Plaza at Preston Center store.
Other stores getting the collection are in Tampa, Fla.; Pittsburgh; Savannah, Ga.; Charleston, S.C.; Dedham, Mass.; Nashville; N.Y.; Austin; Las Vegas; and Houston.
Scott hasn’t disclosed annual sales. The brand was valued at $1 billion when Boston-based Berkshire Partners became an investor in 2017. The store count has doubled since then.
Twitter: @MariaHalkias
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