Kendra Scott at Target
Target Corporation
TargetTGT just nailed another brand partnership coup, which is likely to pay big dividends heading into the holiday season. On top of their successes with Ulta BeautyULTA, AppleAAPL, and Disney, today Target announced a strategic, long-term partnership with Kendra Scott. The product launch is scheduled for October 22nd and will feature branded instore kiosks in approximately 150 Target stores, complemented by a Target.com online product introduction.
The collection, encompassing more than 200 pieces, will start at $15 with most pieces under $40. The premier offering will include necklaces, rings, earrings, ring dishes and jewelry storage, all embodying the Kendra Scott design signature.
Family, Fashion, Philanthropy
“Family, fashion, and philanthropy are the guiding principles of the Kendra Scott brand, and closely connect to Target’s purpose of bringing joy to all families,” said Kendra Scott, founder, executive chairwoman and chief creative officer of Kendra Scott, LLC, in a Target press release. “We partnered with Target as they have a strong presence in our local communities, the place that matters the most to us.”
Kendra Scott founded her company in 2002 with $500 in her spare bedroom. At the time she was pregnant with her first son, and doctors put her on bed rest. Kendra, who had been making jewelry for friends, had newfound time to dig deeply into her passion. She began selling her first collection to a local Austin boutique, with her young son in tow.
Brand Management Meets Unified Commerce
Now, just two-plus decades later, Kendra Scott, LLC has 2,600 employees, and boasts a valuation in excess of $1 billion. The brand is generating more than $300 million in sales per year, of which about $100 million is attributed to direct-to-consumer (DTC) online sales. The company remains true to its founding philosophy, donating over $50M to philanthropic organizations since 2010.
Kendra Scott’s unified commerce approach includes a network of 130+ namesake experiential stores and pop-up locations. Its wholesale partners, include Neiman Marcus, Nordstrom, Bloomingdale’s, Dillard’sDDS, along with 850+ specialty boutiques. The Austin, TX. based company was honored as one of Newsweek’s Top 100 Most Loved Workplaces in 2022.
Credit:Source link
