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Multi-millionaire entrepreneur Kendra Scott will pass on her role as CEO of her namesake jewelry company to company president Tom Nolan, the company announced Monday.
Scott has been the CEO of the jewelry empire since its founding in 2002. She will remain the executive chairwoman, majority owner and the leader of the company's design, customer experience and philanthropy efforts.
Nolan was brought on to the company's board in 2014 and has transitioned between different roles until becoming the company president in 2019. With more than 20 years of professional experience, Nolan previously held roles at Ralph Lauren and Conde Nast.
(Kendra Scott)
In a statement, Scott wrote: "During this extraordinary time of retail transformation, there has been no better person to partner with me on building the brand and the business. Tom is an experienced executive with a relentless focus on the customer, operational rigor, and strong expertise in digital transformation. With Tom at my side as CEO, I can continue to focus on what I have always seen as the core of the brand – great design, strong philanthropic impact and a continued commitment to our customer."
Scott created her brand from a spare bedroom in Austin, which has since developed into a powerhouse company with sales of about $360 million, according to Forbes. There are more than 110 Kendra Scott stores, including multiple in Austin.
Nolan worked alongside Scott on the company's flagship launch on South Congress after private equity firm Berkshire Partners invested $1 billion in the company.
"Kendra's vision, sense of purpose, and design ability are second to none and I am both humbled and grateful for the trust she has in me to assume this role. The retail industry is constantly evolving, and I'm thrilled to continue to work alongside Kendra in this new role to not only provide sustainable value, but also with a shared responsibility to serve our customers and continue to positively impact people's lives every day through our philanthropy efforts," Nolan said in a statement.
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(Dolce Neve)
He's since been offering that same experience for the past seven years with his artisanal gelato shop, Dolce Neve, in Austin, alongside his sister and her husband.
Leo Ferrarese, Marco and Franscesa Silvestrini run Dolce Neve. (Dolce Neve)
While gelato always played a big role in Silvestrini's life, it wasn't in his plans to take on a business with his favorite treat. After a few years in New York working as a management consultant, he felt he was missing out on something. "I decided to take a step back and started thinking, what could... I do to make society better and happier, even just for a moment," Silvestrini said.
He thought back to his childhood and the role gelato played in it and wanted to offer the same experience to Americans.
Once he had the product idea down, it came down to location. Growing up among farmers in a small community in Central Italy, Silvestrini knew he wanted a slower pace of living than New York, so he asked around. The answer he got: "Austin." The only thing he knew about what would become his future home was it had a Formula 1 track.
But after visiting once, he felt a great sense of community he didn't feel in The Empire State. "I felt it was not just a good place for a concept like mine, but also a good place to live because at the end of the day, you cannot just think about your business," he said.
"Dolce Neve" translates to "sweet snow." The shops offers 12-18 flavors at a time. (Dolce Neve)
Similarly, his sister Francesca Silvestrini was experiencing the same feelings while studying for her Ph.D. in Ohio before teaming up with Silvestrini. She went back to Italy to be properly trained in making gelato while Silvestrini focused on the business plan. They brought Leo Ferrarese, her husband, onboard and opened their first shop on South First Street in January 2014. The rest is history.
On the menu, you'll find various traditional and innovative flavors that rotate out. Some of the staples include chocolate, 100% vanilla from Madagascar and salted caramel. Other rotating or seasonal flavors include whiskey and pecan, organic cantaloupe sorbet, goat cheese and pecan, almond custard and tiramisu. They've created over 300 flavors together in the span of the business.
So what's next for the shop? Lately, Silvestrini has been thinking a lot about that. With two locations in Austin, one in Houston—he's just not sure if expanding more is the right move. Maintaining a quality product and good service is of utmost importance that he's not willing to sacrifice.
"In order to be happy, it's not about making money, it's about being an integral part of the community," Silvestrini said. "There have been so many cases in which I think what I did today really made a difference in somebody's life."
