Kendra Scott With Other Investors On Shark Tank (Image Source – Instagram_@sharktankabc)
Highlights
- Jewelry mogul Kendra Scott who built a billion-dollar brand from $500, evaluated pitches on Season 16, Episode 10.
- Scott’s Rise from Small Startup to Industry Leader and launched her business from a Texas bedroom in 2002 and transformed it into a nationwide retail success.
- She is known for her Color Bar concept, which allows customers to design custom jewelry.
Shark Tank Season 16, Episode 10 aired on ABC, January 31, 2025, where four interesting entrepreneurs pitched their business ideas. What was exciting was that Guest investor Kendra Scott joined the show, who has built a billion-dollar brand from scratch as a jewelry mogul, also came to evaluate the pitches. The story of Kendra is about determination and good business strategy. She is a woman from Wisconsin who in the year 2002 established her jewelry company after raising just $500. It was quite a simple target because she intended to design jewelry, which is stylish, good, and cheap to women of every age group.
She began modestly in her spare bedroom located in Texas. However, in no time her brand was amongst the hottest ones. Today, Kendra Scott Jewelry is in many retail stores throughout America. Some of her innovations stand out, like the Color Bar concept: Customers can come to the store and custom-make their jewelry. Because Kendra implemented personalization and accessible luxury, she distinguished herself in a crowded market, which made her a great fit for the Shark Tank panel.
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What Happened On Shark Tank Season 16 Episode 10?
The first entrepreneur to present was Charlotte Trecartin of Chicago who launched CharCharms. She sought $300,000 for 10% equity in her firm, selling customizing accessories for water bottles. Her product featured stick-on hooks and charms. Lori Greiner and Mark Cuban passed, but Daymond John and Kevin O’Leary became interested, offering $300,000 for 20%, arguing they could improve distribution. Charlotte was not ready to give in more than 15%, though when Daymond reduced this to 17.5, she would still leave this without a conclusion.
Pamela Redmond, the co-founder of the baby name database Nameberry was up next. She asked for $350,000 for 5% equity, to train the AI on data from the platform. Mark Cuban said it was too expensive and walked away. Kevin O’Leary offered $350,000 for 33.3%. Pamela counter offered at 24.9% equity so that she was still in control. Kevin agreed, and that’s what sealed the deal.
Third problem solving product came from mother-son duo of Lisa and Jake who are the co-founders of Rinseroo, a slip-on hose that bathes and rinses, pitched for $343,000 in exchange for 5% equity. She got the idea while showering at a beach house. The company sold $1 million its first year and was projecting $5 million for that year. Lori Greiner was shocked and raised her offer right away; they accepted.
The last one was Carrie Sheltz Hassap, the creator of a baby clothes company. She wanted $100,000 in exchange for 10% of her shares. It was surprising to the investors that she had spent almost $1 million with lousy sales. When she talked to her father and proposed a deal with Daymond John for $100,000 against 33.3% equity, she accepted it.
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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