(PRESS RELEASE) The Kingswood Company, the world’s leading manufacturer of high-quality jewelry cleaning and polishing cloths, has announced its inclusion on the Inc. 5000 list and relocation to a new manufacturing and office space in Columbus, Ohio.
This is The Kingswood Company’s second year in Inc. magazine’s prestigious ranking of the nation’s fastest growing private companies. The company ranked 3657, with three-year revenue growth of 92%. This growth is the result of the company’s focus on new product development, extended design capabilities, expansion of distribution channels and the launch of two new brands: Gem Glow®, sold exclusively at Walmart, and Clean + Care®, sold by independent jewelry retailers.
“Another important driver of our growth has been our focus on improving our product category in the industry,” said Kristie Nicolosi, President and CEO of The Kingswood Company. “We have helped retailers recognize the selling power that the jewelry cleaning category could have for them, by designing and manufacturing products that match the luxury and sophistication of the jewelry industry. What was once considered a cheap giveaway is now a category for retailers that bolsters their core offerings. “
The inclusion on the Inc. 5000 list is even more striking considering the loss of nearly a quarter of the company’s revenue in 2020 due to the Covid-19 pandemic on retailers. Kingswood has maintained stability during the Covid shutdown and returned to growth by the end of 2020. The company remains on a continued growth path into 2021.
“To manage the fallout from Covid, we focused on education related to jewelry care and cleaning,” added Nicolosi.
“We were able to share vital information on jewelry care and cleaning with a world intensely focused on the topics of cleaning and disinfection. “
While the company was down 22% in 2020 from 2019, it is expected to grow by 50% from 2020 and nearly 20% from 2019 in 2021. Over the past five years, the company will have experienced compound annual growth of approximately 15%. rate.
To accommodate this important growth trajectory, the company moved to a new manufacturing and office building in October 2021, increasing its floor space from 18,000 to 44,000 square feet. This decision supports the company’s growth projections, increases production capacity and allows Kingswood to hold more inventory, which is vital to the needs of the company and its customers in this era of chain challenges. supply.
The additional space supports Kingswood’s growth plans by allowing space to store products for large customers and to expand offerings by providing drop-shipping service to customers. Additionally, the ability to carry more inventory and space for more machines lays the foundation for shorter delivery times in the future. The new space also doubles the area allocated to product development, photography and marketing, all of which are done in-house.
“As a company, we pride ourselves on the planning and preparation,” explained Nicolosi. “While no one could have predicted the supply chain issues we face, our plan to increase capacity and warehousing with the purchase of new space has allowed us to react and rethink the inventory and planning needed to overcome supply chain challenges. “
Based in Columbus, Ohio since 1956, The Kingswood Company is the world’s leading manufacturer of high quality jewelry care products, serving thousands of retailers, designers and manufacturers worldwide.