How Kiki McDonough built a jewellery brand fit for the Royals

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1:45Kate Middleton, the Princess of Wales, has a jewelry collection that combines timeless elegance with modern sophistication, and one piece that stands out is her Kiki McDonough green amethyst oval drop and diamond hoop earrings. These stunning earrings are the perfect example of Kate's love for wearable, versatile, and beautiful pieces. Designed by Kiki McDonough, a well-loved British jewelry designer, these earrings feature a soft green amethyst oval stone that dangles delicately from small diamond hoops. The pale green hue of the amethyst is both subtle and fresh. That's one of many online videos that talks about the Princess of Wales being a fan of Kiki McDonagh's jewellery.

2:26In 2025, Kiki McDonagh's business is celebrating its 40th anniversary. Her jewellery has also been worn by Princess Diana and the Queen. So how on earth did she become a jeweller to royalty?

2:47I'm Graham Ruddick, and this is the Business Leader Podcast. In this episode, we speak to Kiki McDonough about how she built a luxury jewellery brand. Kiki McDonough is a brand that has gained recognition around the world over the last 40 years. But she still has only one shop in the West End of London, and the reasons for that are a key part of this story.

3:15It was really a bit of an, not so much an accident, but it was lucky. I always think those breaks are lucky. And I was a secretary for years, you know, running around emptying bins and doing all sorts of things. Never really thought, I never really thought I'd do much else. I enjoyed doing interesting secretarial jobs, but that was all. And then a friend of mine who had an antique jewellery business off Bond Street rang me up one day. He was a friend of mine and he said he wanted to start selling modern jewellery. And so I said, good for you, good idea, you know, really good idea. And he said, no, I want you to do it.

3:54And I practically fell off my chair and I said, no, I don't think I'll be able to do that. No, no, yes, he said. And my husband, who I was married to at the time, David McDonagh, said, oh, yes, you can do it. You'll definitely be able to do it. so to cut a long story short I arrived on my first day with a blank piece of paper and a pencil looking deep rather embarrassed actually I think about what I was doing there but my father had been a jeweler and my grandfather and I was fourth generation jeweler so it was in my blood I think and I and I did love jewelry but my father was an antique jewelry so he loved the provenance of a piece he loved to know where it came from and its history and at that time you know I was wearing beaver boots and beaver everything and was not slightest bit interested in Georgian jewellery or any of the things that he liked so I was never going to do that anyway so I started on the first day with my blank piece of paper and the pencil and uh thought oh heavens what on earth am I going to do and he had a um a little brooch in his counter which was round crystal with the diamond set bow in the middle with pearls around the outside and I thought well if you turn that into a heart it was the 80s if you turn that into a cut that into a heart and put a bow on top and made it in small and little and big and whatever and no diamonds done I thought well I'll try that first and see what happens and I asked a manufacturer from Birmingham called David Eakin to come down and have a look and he sort of smiled when he looked at it not because it was marvelous but because he had serious doubts and he looked at me and he said I'm not sure and I don't know what came of me but I looked back at him and said I'm not either and we both burst out laughing and he said you know what I'm going to take a punt and we worked together for 20 years uh he was a wonderful man and a huge imagination and the two between the two of us we started you know started selling jewelry to women to start buying for themselves which is what I was my mission was because there were lots of people out there women were beginning to earn more or they're making more of their own decisions.

6:04So that's really how it started. So what comes next in the story? Because I've heard you talk about that start of the business before, and we are where we are today. When did you realise you were onto something? I'm not sure you ever realise you're onto something, actually. I think if you do, you probably, you know, sleeping on your laurels, really. I think you don't, I don't ever think that I've made it. I mean, everybody around me tells me I have and this is, you know, an international brand and all the rest of it. But I think I never think like that. I always think, you know, why haven't I done more and why can't I do more and more interesting things, more stones, more everything.

6:47I don't ever think I've made it, which is probably a good thing, which is probably the thing that's actually propelled me forward over the last 40 years. It did start in a small way. And then I had children. I had children in the early 90s during a recession. And so I quite wanted to see my children rather than building 25 shops around the world and everything. So I decided that the business would progress slowly so I could spend a few of their formative years with them. so I didn't really push it to be a brand until well I suppose 20 years ago 20 years ago probably and then we you know I made a big push to get it out there everywhere and of course the internet helped and all the social media and the twitter began and all things like that which helped hugely I mean before we relied on the press and word of mouth that was all you had really so it did take a bit of time but I'm glad I did it that way.

7:50People used to say to me how many shops do you have and I go one shop two children. That comment brings us to a question for Kiki McDonagh. She still has only one shop and has resisted growing the business beyond that despite the obvious potential. Looking back is she happy with that decision? Yes, it's an interesting question. I look back on it and think how lucky I am to have had both. Yeah, I think I'm lucky to have done it that way, in a way. I mean, I don't think it was really intentional, but I did want to see the early days, certainly from sort of nought till eight of my two boys. I think I made the right decision, particularly as, you know, there were recessions and pandemics.

8:40I mean, I've done two recessions, a pandemic and now, which is, yeah, as you can see from the newspapers, most businesses are not throwing up their hands in joy. For so many entrepreneurs today, it's the rush to get investment, expand overseas, grow as quickly as you can. What would you say to an entrepreneur today facing that decision? I mean, every entrepreneur has a different lifestyle. So I would say you have to decide your priorities. And I'm a mentor for, a business mentor for the Prince's Trust, which is now the King's Trust. And, you know, I had a girl when I first started doing it. And she said, oh, you know, I work and then I go home, have a quick bite to eat.

9:24And then I go back to my study and work. And I said, but you're married when do you see your husband? and she said oh well you know at weekends we have supper together or something and I said I said I'm not sure that's terribly healthy I think you have to try and you know sit down with your husband and and have you know dinner and chat about the day and maybe spend half and half hours and then you can go to your study um I don't think you should should submerge yourself into into I don't think it's healthy to submerge yourself so much into your business and business life that you don't have a life outside because you don't want to look back and think um oh it's so great i've got 25 shops or 25 offices and then you look around you've got i've got very many friends and your family where your family and and to me that's not how for me personally um i'm really glad i did it the way i did because i've got two lovely sons who whose company i really enjoy and who work hard and and I've had the best time do you think we would have been able to lead the business of 40 years without that approach or do you think you just burn out I think there is I think you can burn out I think it can sap your creativity and I think it can you know you sap your will and so if you I mean you know there are people who rush at it and 15 years later they've sold out for millions of pounds and then they may go off and do something else, which is great.

10:58And maybe they've got children, maybe they haven't. It really, it so much depends on the individual. Entrepreneurs are a sort of brand of their own in a way. And I think it's very hard to generalise about that. But to me, juggling both is bad enough without going for your life. But I can look back now on 40 years and I do it all over again. There's nothing that says to me, oh, Kiki, if only. So I think, yeah, I'm happy. Kiki McDonough launched her business in the 1980s when Margaret Thatcher was Prime Minister. She feels like the environment for launching a venture then was far more supportive than it is today.

11:43Her business went on to survive the brutal recession of the early 1990s, then the financial crisis, and more recently, the COVID-19 pandemic. When I started the business, Mrs Thatcher was Prime Minister, and I think you find a lot of entrepreneurs who started their businesses when she was Prime Minister, you know, would definitely vote for it again. Because there was an atmosphere in the country, and it came directly from her, you know, can do, we're behind you go for it we want to see lots more people doing this you know buy your own house get a mortgage you know better yourselves and go out there and start a business if you feel like it you know goodness knows whether that was reality but I think certainly the two or three people I've spoken to who started their business back then all say it was great because she was really upbeat she was really upbeat and that of course having an upbeat Prime Minister makes you want to fly it's just so it's just common sense and so yeah we all flew and some some survived I guess Was it the overall attitude at that time or were there sort of specific policies as well that you think I don't think it was particular policies I think it was more I mean, you know, the taxes were lower, interest rates were lower at one stage, I think.

13:11It was just a feeling in the country that we're all in this together and let's do it. It was extraordinary. I don't think we've really had that since, actually. And I'm not sure if you can recreate it again. So two recessions, a pandemic, and today, which was the hardest?

13:30Oddly enough, not the pandemic. uh i think probably what was the hardest 1992 the early 90s one was difficult that was a property recession really and lloyds went down so people who had a bit of spare money would spend it on a few luxuries and things so lloyds went down and that was a massive knock-on effect from that you know my friends have lost their house so i can't really be seen to buying something new so there was a big knock on from that the Lloyd's crash um so I think I think I don't know you have to probably ask me that in six months time but I think if I had to say absolutely now I'd say now is tricky because of the doom and gloom that has been spread around like butter it's just extraordinary and I've never seen that because before there were recessions and people knew it coming they understood you know there is a recession there is a recession therefore we do x y and z you know we we know what to do to cope but at the moment it's yeah it's just a pervading atmosphere of doom and gloom that is horrendous i think most businesses will tell you it's hard to work through that because there's nothing positive do you think it's affecting consumers as well oh for sure and i think i think consumers are affected by headlines you know they don't go out consumers like knowing that there is some sort of safety you know there's the it's safe to shop if you like and it's the consumer confidence is incredibly important because it keeps manufacturers going and it you know the trickle down effect is huge i mean even if someone decides not to give a party that's a florist who doesn't have a job and a dj who doesn't have a job maybe in a you know food company that doesn't have a job you know it has a massive knock-on effect so i think at the moment it is quite hard and i think it would be just but i think it's much more difficult it's much it's very easy to spread doom and gloom it's much more difficult to spread joy after you've spread doom and gloom so i think they've got a very very difficult job on their hands is it rhetorical that needs to change is it the messaging that needs to change more than else yes but you see that's but that I think it takes a long time because once you've set once you've set this picture you've got to change the picture and I think that takes time so I think it's yeah I think it's it's going to be hard work forever how um did you in the challenging times this business did you ever think it might not make it do you ever think it would fail the business um no no no because i've always kept it small and my father always said um to me two things he didn't give me much advice having been a jeweler himself and having a store in bosbury he didn't give me any advice at all actually but he said uh nothing is ever cheap it's always inexpensive never judge a book by its cover and look after the pennies and the pounds to look after themselves and those are the only three bits of advice otherwise he said well goodbye go and do it yourself and those values you've kept in this business yes I have actually I have looked after the pennies I mean yes I'm really on it and I've been um I've been sort of part CEO if you like well financial director and part creative director I've got a funny I've got a strange brain, I think.

17:03I had a French mother, so I think half the financial brain came from her because she was very, very, very strict with her money and, you know, instilled that into us very early on. And my father was the creative brain, really. So I've got a mixed brain.

17:23As we have spoken about, Kiki McDonagh's jewellery is popular with the royal family and has been for years. So how did that start? Well, it started with an introduction from her then-husband, David McDonagh, who was working in public relations. I did the earrings for when the Duchess of York married Prince Andrew, back in really what must be 1987, probably, 1980. I literally can't remember the date. Then I did do a couple pairs of earrings for Princess Diana when she went to America to meet Barbara Bush. And then after that came the present princess of Wales and now the queen. Great fun seeing it all over the pages.

18:13How did, you go back to those earrings in 87, how did that come about? I think my husband knew her and I think they were talking and she thought, and honestly, it's such a thing as 40 years ago. I think he mentioned the jewellery and what I was trying to do. And she said, well done to her. And I think it helped out, really. But I think they all understood what I was trying to do, which was design jewellery that women could start buying for themselves and wearing anywhere. You wouldn't be frightened of wearing them. If you were wearing them in the morning and then you had to do something at lunchtime or something else in the evening, you could wear the same pair of rings all the way through the day and I think that's probably the attraction and it's not bling and it's not cutting edge neither of which is my style I like really pretty beautiful jewellery How do you look back on what you were designing and making then compared to now how much has it changed?

19:15It's I mean it's not so much it's changed it's evolved I think is the better word it's evolved in that it's it's funny actually because because it's 40 years we're going to have an exhibition of archive so I've been back 40 years to those earrings with the crystals and bows and various other things and of course the team here at the moment haven't ever seen those so I've had them made again and they've arrived and all the girls here think oh god they're so pretty why don't we make these and so I think everything comes around again actually uh and it's evolved because but it's always based on how I lead my life you know when I go to parties like everybody else and I might go to um see my children play football or I might go to Liverpool to go to Anfield because I'm a great Liverpool fan and I might go somewhere else somewhere else so it's jewelry that you know you've got to enjoy wearing wherever you go really you you launched a brand at a time as you said it was newspapers and word of mouth basically so i hesitate to sort of compare then with now but it's harder now it is harder it is harder now and i may absolutely 100 i think it's harder now i think the competition for your product is much bigger um in the jewelry world's exploded uh And I think, and that's everything from decorating to gardening to everything.

20:45You know, it's huge. And I think it's very, very competitive now. And I think I'm quite glad that I am not starting out now, I think. But I think the same disciplines apply. You know, if you work hard and you're disciplined, then I think you've got some talent, you've got a bit of luck and some charm. very important you'll probably make it so harder because this the choice is this is my choice well I think it's more expensive you know rents are more um getting things made is more expensive getting deliveries you know everything is harder I think and I think it's you know every time you do something uh you know you've got to fill out another form and I mean it is yeah I think it's It's quite tricky, really.

21:39How much are you thinking of the future of this business? I mean, the long-term future. Well, I've got no intention of retiring, but I think this brand has longevity without question. I mean, it's so embedded now that, by an absolute disaster, I think it will definitely go on. I mean, it's a brand name. It's not my name anymore. It's a brand name. And I say I've got no intention of retiring now because I love it, But I think it definitely has longevity, which actually what I'm is probably actually when you say is what I'm most proud of. Yeah. Is that it won't close because I go. I'll just go on.

22:15Would you want it to remain within the family? Well, it isn't in the family because my sons don't work here. And there isn't really there isn't really anybody else in my family who who wants to be a jeweler. it might skip a generation and it might it might skip a generation and it might there might be somebody in my family who pops up somewhere that um which would be lovely but I think I might be the last generation which is a shame but I I'm I'm not terribly worried about that but I love the idea that this has longevity because I think it has definitely got lots of legs to go

22:59You've been listening to the Business Leader Podcast with me, Graham Ruddick. Our producer is Anushka Tate. For more business case studies and masterclasses, please check out businessleader.co.uk.

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