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

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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.”

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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

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It was time. Teri Allen and her brother, Nick Pavlich, Jr., had been at the helm of Dearborn Jewelers of Plymouth in Plymouth, Mich., for decades. Their father, Nick Pavlich, Sr., had founded the store in 1950, but after so many wonderful years helping families around Michigan celebrate their most important moments, it was time to get some “moments” of their own. Teri says Wilkerson was the logical choice to run their retirement sale. “They’re the only company that specializes in closing jewelry stores,” she says. During the sale, Teri says a highlight was seeing so many generations of customers who wanted to buy “that one last piece of jewelry from us.” Would she recommend Wilkerson? Absolutely. “There is no way that I would have been able to do this by myself.”

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