Headlines

2 Jewelers Land on List of ‘America’s Richest Self-Made Women’

Published

7 years ago

May 17, 2017

INSTORE Staff

One of them is ‘America’s only jewelry billionaire.’

Carolyn Rafaelian of Alex and Ani and Kendra Scott of Kendra Scott Design Inc. have landed on Forbes’ list of America’s Richest Self-Made Woman.

Rafaelian, 50, is No. 18 with a net worth of $1 billion. She’s “America’s only jewelry billionaire,” according to Forbes.

Cranston, RI-based Alex and Ani has annual revenue of more than $500 million, the magazine reports. Rafaelian owns 80 percent of the firm, which is worth $1.2 billion or more.

Scott, 43, is No. 36 on the list with a net worth of $500 million. She’s a newcomer to the list of the country’s richest self-made women, which is in its third year.

Scott’s company late last year entered into a partnership agreement with Berkshire Partners, a Boston-based investment firm.

Reuters reported that the deal “values the Austin, Texas-based jewelry company at more than $1 billion.”

Scott founded the company with $500 from a spare bedroom in her home in 2002. It has grown into a jewelry, home and beauty brand with 60 stores throughout the U.S. and significant wholesale and e-commerce operations.

Forbes’ list includes 60 women. Their combined net worth is $61.5 billion.

Read more at Forbes

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”