The new Kendra Scott lab-grown diamond collection boosts the company’s fine jewelry offerings and its appeal to millennials and Gen Z, who are drawn to these gemstones for cost and provenance, brand execs say.
Kendra Scott’s inaugural line of lab-grown diamond jewelry, which debuted March 25, features rings, earrings, bracelets, and necklaces at prices ranging from $500 to $2,950. They are available on the company’s website and in 50 select Kendra Scott stores. Company officials say the diamonds in the jewelry are at or above H color and VS clarity, and all stones 0.5 carat or higher have International Gemological Institute certification.
The Austin, Texas–based brand enters the lab-grown market as it is enjoying strong retail momentum, having recently reached annual revenues of around $500 million, which company officials describe as its best year ever. They expect the brand to expand from 138 stores to 200 stores in the next three years.
“We pride ourselves on putting the customer first, and we heard over the years that our customers wanted to shop with us for fine jewelry because they loved the company, they loved that we give back, and they wanted their jewelry collections to grow alongside our product assortment,” said chief creative officer Kendra Scott in a statement. Scott founded her brand in 2002 and also serves as its executive chairwoman.
“Lab-grown diamonds allow us to embrace new designs within our studio,” Leah Lucas, senior vice president of design for Kendra Scott, tells JCK in an email interview. “We can take new, innovative approaches with these stones, and we’re excited to see how this opens up our fine jewelry collection to silhouettes and styles that wouldn’t be prudent with mined diamonds.”
Company officials say consumer behavior indicates fine jewelry no longer is reserved for special events, and the brand’s customer base has shown interest in everyday fine jewelry. By using lab-grown diamonds, Kendra Scott can offer an accessible price point, which is what its customers are accustomed to when shopping with the brand.
Kendra Scott lab-grown diamonds come in staple silhouettes and trend-forward styles, giving customers options that accentuate their day-to-day aesthetics as well as vintage-inspired looks that are now en vogue. Examples include the floating jewelry trend that was popular in the 1990s and the classic toi et moi setting.
Top: Kendra Scott’s 14k yellow gold Floating White Diamond Linear earrings in two sizes (priced at $700 and $1,950) are in the lab-grown diamond collection just debuted by the brand. (Photos courtesy of Kendra Scott)
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