The Kingswood Co. Makes Inc’s List of Fastest-Growing Businesses Again
The Columbus, Ohio-based maker of jewelry cleaner has also relocated to a new headquarters that’s double in size.
The Inc. 5000 list ranks the fastest-growing privately held companies in the United States by overall revenue growth over a three-year period.
Jewelry cleaner manufacturer The Kingswood Company is on the list a second time, first appearing there last year.
The company sits at No. 3,657 on the 2021 list, with three-year growth of 92 percent.
Kingswood said it attributes the strong growth to its focus on new product development, expanded design capabilities, the expansion of distribution channels, and the launch of two new brands: Gem Glow, sold exclusively at Walmart, and Clean + Care, sold through independent jewelry retailers.
“Another significant factor in our growth has been our focus on elevating our product category in the industry,” President and CEO Kristie Nicolosi said.
“We helped retailers recognize the sales power the jewelry cleaning category could have for them, by designing and manufacturing products that matched the luxury and sophistication of the jewelry industry. What was once viewed as a cheap giveaway is now a category for retailers that bolsters their core offerings.”
The performance, and the resulting presence on the list, comes despite the company’s loss of nearly an entire quarter of revenue in 2020 due to the pandemic.
Kingswood was able to maintain stability during the COVID shutdown and return to growth by the end of last year, it said, adding it is still on a growth trajectory.
“To manage the fallout from COVID, we focused on education related to care and cleaning of jewelry,” Nicolosi said. “We were able to share vital information on jewelry care and cleaning to a world intently focused on topics of cleaning and sanitizing.”
The company’s revenue was down 22 percent last year compared with 2019 but expects 2021 to finish up 50 percent over 2020, and up nearly 20 percent over 2019.
To accommodate the growth, Kingswood has relocated its offices and manufacturing facilities to a new building in Columbus, Ohio, taking its square footage from 18,000 to 44,000 square feet.
The added space will support expanded production capacity and allow the company to hold more inventory as well as increase the space allocated for product development, photography, and marketing, all of which is done in-house.
“As a company, we pride ourselves on planning and preparation,” Nicolosi said. “While no one could have foreseen the supply chain issues we are experiencing, our plan to increase capacity and warehousing with the purchase of a new space has allowed us to react to and rethink inventory and planning needed to weather supply chain challenges.”
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