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Why jeweler Kendra Scott is winning affordable luxury and plans to open dozens of stores while others are downsizing

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Kendra Scott CEO Tom Nolan shared in an interview with Fortune his company's expansion plans for 2025, made possible by owning the affordable luxury jewelry space. Nolan also pointed to his success working with the namesake founder of the company.
Kendra Scott, a jewelry brand known for its affordable luxury, is expanding its retail presence by planning to open dozens of new stores across the U.S., even as many other retailers are downsizing due to economic pressures. The company's success is attributed to its strategic focus on accessible luxury, offering high-quality, fashionable jewelry at price points that appeal to a broad demographic. Kendra Scott has managed to maintain growth by enhancing its omnichannel experience, which includes in-store, online, and mobile shopping options, as well as through partnerships and pop-up shops in high-traffic areas like airports and college campuses. This expansion comes at a time when the brand has seen a significant increase in demand, particularly among younger consumers who value both style and affordability. The article highlights Kendra Scott's resilience and adaptability in a challenging retail environment, leveraging its brand strength and customer loyalty to continue its growth trajectory.

Read the Full Fortune Article at:
[ https://www.msn.com/en-us/money/companies/why-jeweler-kendra-scott-is-winning-affordable-luxury-and-plans-to-open-dozens-of-stores-while-others-are-downsizing/ar-AA1AygRF ]