Investment firm 65 Equity Partners has bought a minority stake in lifestyle and accessories brand Kendra Scott to support the company’s growth.
The brand founder Kendra Scott will continue to hold the majority stake in the company. Under the terms of this deal, she will acquire a larger equity position than her current holding.
Founded in 2002, Kendra Scott offers fashion, demi-fine and fine jewelry, watches, engagement rings, fragrances, home accessories, and a men’s collection. The label, known for its material innovation and signature shapes, has a network of more than 130 namesake experiential stores and pop-up locations, wholesale partners, and over 850 specialty boutiques.
Under this new partnership, the company plans to open new stores, collaborate with culturally relevant partners, and expand into crucial categories in the upcoming years.
“Partnering with 65 Equity Partners represents a pivotal moment in our journey,” said Tom Nolan, CEO of Kendra Scott. “We continue to see success across all channels with increased traffic, double-digit revenue growth, and outperforming industry standards.”
“Kendra Scott is a leading brand that aligns with our investment philosophy of supporting strong, founder-led companies with a clear mission and established market presence,” added Leon Brujis, partner and head of East Coast at 65 Equity Partners. “We look forward to working together in support of the company’s growth initiatives.”
HPS Investment Partners and Belzberg & Co co-invested alongside 65 Equity Partners in the transaction.
- Further reading: Private equity giant KKR takes over Varsity Brands.
