A photo of a woman wearing two necklaces and a ring.

A woman wears necklaces and rings featuring lab-grown diamonds. Photo: Courtesy of Kendra Scott

Austin-based jewelry company Kendra Scott is seeking capital to fund its expansion plans, CEO Tom Nolan tells Axios Pro’s Richard Collings exclusively.

Driving the news: It wouldn’t be surprising if Kendra Scott entered into a transaction this year, which would give it “gas” to put on the “fire,” Nolan says.

  • “We would make a great public company,” he notes.
  • He declined to comment, however, on which options it is exploring, such as a sale or a transfer of shares. Nolan also declined to say if Kendra Scott is working with or interviewing investment banks.

Quick catch up: PE firm Berkshire Partners announced in 2016 plans to acquire a significant minority stake in the business, which valued the company at $1 billion.

By the numbers: Kendra Scott’s revenue increased nearly 20% year over year, to around $500 million, and e-commerce traffic grew 26% year over year, the CEO says.

What’s next: Kendra Scott expects sales will continue growing by double digits for the foreseeable future. The company plans to open at least 15 stores this year.

Between the lines: Kendra Scott has introduced new products, including a Southwest-inspired jewelry collection called Yellow Rose.

  • Kendra Scott is now offering a lab-grown diamond collection to make fine jewelry more accessible price-wise to its customers, the company said Monday.

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