Making Space with Hoda Kotb: Kendra Scott on Building a Billion Dollar Brand
Podcast Information:
- Title: Making Space with Hoda Kotb
- Host: Hoda Kotb, TODAY
- Episode: Kendra Scott on Building a Billion Dollar Brand
- Release Date: December 4, 2024
In this inspiring episode of Making Space with Hoda Kotb, Hoda engages in a heartfelt conversation with Kendra Scott, the visionary founder behind the billion-dollar jewelry empire, Kendra Scott Jewelry. The episode delves deep into Kendra’s journey of resilience, her unwavering commitment to family, fashion, and philanthropy, and the core values that have propelled her brand to unprecedented heights.
Early Beginnings and Personal Challenges
Kendra Scott opens up about her early life and the pivotal moments that shaped her entrepreneurial spirit. Moving from Wisconsin to Texas at the tender age of 16, Kendra describes her transition as a foundational experience that instilled in her a strong work ethic and resilience.
"I was raised by my dad from 10 to 16, and then I moved in with my mom at 16... He always said, if you want those Gloria Vanderbilt jeans, you can earn them."
— Kendra Scott [17:34]
A significant turning point in Kendra’s life was her stepfather’s battle with brain cancer. His encouragement, encapsulated in three powerful words, became her guiding principle.
"You do good."
— Kendra Scott [10:48]
These words not only motivated her to persevere through personal grief but also ignited her passion to create something meaningful that would make a difference in others' lives.
The Birth of Kendra Scott Jewelry
Kendra recounts the humble beginnings of her brand, starting with a mere $500 and a tea box to carry her initial collection of jewelry. Her first venture into the business world was a hat store aimed at supporting cancer patients, which ultimately did not succeed. However, it was this experience that led her to discover her true calling—jewelry making.
"When the hat box closed, I felt like such a failure... But then I remembered those words in my head. You do good."
— Kendra Scott [12:00]
This pivotal moment shifted her focus to jewelry, where she found her true passion and began to receive encouraging feedback from customers, reigniting her entrepreneurial spirit.
Building a Brand with Heart
Kendra emphasizes that the success of Kendra Scott Jewelry is not just measured by its billion-dollar valuation but by the foundational values of family, fashion, and philanthropy that it upholds.
"Those three words—family, fashion, and philanthropy—are at the foundation of Kendra Scott Jewelry, but more importantly, at the core of Kendra Scott the woman."
— Hoda Kotb [01:15]
Her leadership style is deeply rooted in empathy and kindness, fostering a company culture that resembles a close-knit family. Kendra introduces the concept of the "sister rule," which dictates how employees interact with each other and with customers.
"How would you treat your sister? That answers. That's your return policy. That's your every policy."
— Kendra Scott [19:54]
This philosophy ensures that every team member feels valued and supported, creating a harmonious and productive work environment.
Overcoming Adversity and Embracing Growth
Throughout her journey, Kendra has faced numerous challenges, including the loss of her stepfather and the initial failure of her hat business. However, her steadfast belief in doing good and her ability to stay open to new possibilities enabled her to transform setbacks into stepping stones.
"Every valley there's a higher peak. You'll get through and you'll look in your rear view window and you're gonna go, aha. That's why that happened."
— Kendra Scott [09:48]
Kendra attributes her resilience to the support system around her, including mentors, advisors, and a dedicated team who share her vision and values.
Vision for the Future
Looking ahead, Kendra remains focused on expanding her brand while maintaining the core values that have defined her success. She draws parallels with iconic brands like Ralph Lauren, expressing her ambition to explore new territories and innovate within the fashion industry.
"We haven't even dipped our toes in international waters yet... We're just getting started."
— Kendra Scott [26:31]
Her commitment to growth is matched by her dedication to giving back, emphasizing that the larger her business becomes, the greater the positive impact she can make in the world.
Closing Thoughts
Kendra Scott’s story is a testament to the power of perseverance, the importance of maintaining core values, and the impact of leading with empathy and kindness. Her journey from a small-town entrepreneur to the helm of a billion-dollar brand exemplifies the essence of making space for growth, change, and meaningful contributions to society.
"My name is on this brand, but it is the DNA of all the people that have worked with me... That is why I'm sitting here today."
— Kendra Scott [19:11]
Hoda Kotb and Kendra Scott wrap up the episode by celebrating the milestones achieved and expressing optimism for the future, leaving listeners inspired to pursue their own paths of growth and positive change.
Notable Quotes:
- "You do good." — Kendra Scott [10:48]
- "How would you treat your sister? That answers. That's your return policy." — Kendra Scott [19:54]
- "Every valley there's a higher peak. You'll get through and you'll look in your rear view window and you're gonna go, aha." — Kendra Scott [09:48]
- "We haven't even dipped our toes in international waters yet... We're just getting started." — Kendra Scott [26:31]
This episode serves as a powerful reminder of the resilience of the human spirit and the importance of staying true to one’s values in the face of adversity. Kendra Scott’s journey is not only a blueprint for business success but also an inspiring narrative of personal growth and unwavering dedication to making a positive impact.