Kendra Scott in retail: "The moment you become complacent you will fail"
Kendra Scott in retail: "The moment you become complacent you will fail"
When Kendra Scott's first hat business closed its doors five years after its launch, she promised never to venture into retail again. A few years later, she founded what has now become a multi-billion dollar jewelry brand that will have 90 stores by the end of the year.
"Never say never," said Scott.
In an episode of ABC Radio "Without limits with Rebecca Jarvis"Scott told Rebecca Jarvis, ABC News' main business, technology and economics correspondent, that she knew she had three options when her first business failed, the first was to feel sorry for herself, the second was to get a job." regular "despite her dreams of being an entrepreneur, and the third option was to create another business from scratch.
"You want this," Scott said of what he remembered thinking at the time. "So you'll come back and have the guts to try to do it again, or will you just stay safe?" And I decided to try again, and Kendra Scott was born.
It started with $ 500 when Scott came out of his additional bedroom designing unique pieces of jewelry with his newborn son by his side. For Scott, his family came first, even when his jewelry business grew enough to open his first store just eight years after its start.
"At the beginning, there were three priorities," he said. "I wanted to be a mother, so my family was incredibly important to me, I wanted to be in the fashion that I dreamed of doing and wanted to give back to my community."
Scott's store opened two years after the 2008 recession and he clearly remembers how the stores around him closed their doors one by one. As his environment gradually became a "ghost town," Scott decided to do it differently and instead became radical with retail.
"For us, at a time when everyone was closing, I thought we would do something," he said. "Let's try to open a store so I can learn from my client because I could not talk to her directly."
From that moment, Scott tried to interact with his clients at an interpersonal level, making sure that his product was displayed freely so that customers could touch it, taste it and personalize it right there in the store.
"You have to get involved with your client, excite him, have reasons to enter," Scott told Jarvis. "And you also have to be able to connect with him or him in a meaningful way." that you become complacent, you will fail. "
Scott has come a long way from his first store when he told Jarvis that although he heard many encouraging voices, he also heard many detractors on the way. But hearing the word "no" gave Scott the fuel to turn the Kendra Scott brand into what it is today.
"I think it's very important for someone to remember that you can hear a lot of voices from us." I always say that "no" in a mirror is "activated." So, for me, we're just talking, "he said.
Listen to more of Kendra Scott in the most recent episode of "There are no limits with Rebecca Jarvis"podcast.
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