"Unicorn" jewellery company Kendra Scott opens first overseas store at Selfridges in London

 
Alys Key
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Founder Kendra Scott started the company in 2002 (Source: Kendra Scott)

An American jewellery company valued at more than $1bn has chosen London for its first store outside of North America.

The Kendra Scott concession, which opens today at London's iconic department store Selfridges, is the first branch of the Texas-based brand in Europe and marks the beginning of its UK expansion plans.

"London is my favourite city in the world," the line's eponymous founder Kendra Scott told City A.M. "I have always wanted to go beyond the united states and it was important to find the right partner, which we have with Selfridges."

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Popular with celebrities including Lady Gaga and Taylor Swift, the jewellery range specialises in customisable items at an affordable luxury price point.

The brand, which was founded in 2002, employs over 2,000 people across 75 US stores, as well as concessions at the likes of Neiman Marcus and Nordstrom. Scott plans to also expand the company's presence in the UK following its debut in London.

Read more: A boom in UK sales of luxury items has boosted Cartier's owner Richemont

Despite dipping consumer confidence in the UK, Scott said she was confident that the brand could gain traction in the region: "My growth really started in 2010 just after the financial crisis so when it was the hardest time in the economy is when my business was the best."

"One thing that's really unique about our brand is it's this affordable price point," she added. "We buy everything direct. We buy our stones in the rough and cut them ourselves and we pass on those savings to the customer."

The products range from £60 to £1,100.

The company will also continue a tradition of charitable giving with the move into the UK. The first philanthropic partnership is with Great Ormond Street, for which the company will hold a fundraising event today.

The opening of the Selfridges concession adds to a good week for Scott, who was yesterday named EY's entrepreneur of the year in the consumer and retail category.

Read more: Titans of history: Lessons from the entrepreneurs who built Britain

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