The Kingswood Company, a leading manufacturer of high-quality jewelry cleaner and polishing cloths, announced their inclusion on the Inc. list of the 5000 Fastest Growing Private Companies in America and their move to a new manufacturing and office space in Columbus, Ohio.
This is The Kingswood Company’s second year on Inc. magazine’s prestigious ranking of the nation’s fastest growing private companies. The company ranked 3657, with three-year revenue growth of 92 percent. This growth comes as the result of the company’s focus on new product development, expanded design capabilities, the expansion of distribution channels, and the launch of two new brands: Clean + Care®, sold through independent jewelry retailers, and Gem Glow®, sold exclusively at Walmart.
“Another significant factor in our growth has been our focus on elevating our product category in the industry,” explained Kristie Nicolosi, president & CEO of The Kingswood Company. “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.”
Inclusion on the Inc. 5000 list is even more striking considering the company’s loss of nearly an entire quarter of revenue in 2020 due to the COVID-19 pandemic on retailers. Kingswood maintained stability during the COVID shutdown and returned to growth by the end of 2020. The company remains on a continued growth trajectory in 2021.
“To manage the fallout from COVID we focused on education related to care and cleaning of jewelry,” said Nicolosi. “We were able to share vital information on jewelry care and cleaning to a world intently focused on topics of cleaning and sanitizing.”
While the company was down 22 percent in 2020 over 2019, it is projected to be up 50 percent over 2020 and close to 20 percent over 2019 in 2021. Over the last five years, the company will have seen an approximately 15 percent compound annual growth rate.
To accommodate this significant growth trajectory, Kingswood relocated to a new building for manufacturing and office space in October 2021, expanding its square footage from 18,000 to 44,000 square feet. The move supports the company’s growth projections, expands production capacity, and allows Kingswood to hold more inventory, which is vital to both the company’s and its customers’ needs in this era of supply chain challenges.
The additional space supports Kingswood’s growth plans by allowing for space to warehouse product for large customers and to expand offerings by providing drop ship service for customers. Additionally, the ability to carry more inventory and space for more machinery lays the groundwork for lower lead times in the future. The new space also doubles the square footage allocated for product development, photography and marketing, all of which is done in-house.
“As a company, we pride ourselves on planning and preparation,” explained Nicolosi. “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.”
Learn more about The Kingswood Company at www.thekingswoodcompany.com.