Daymond John is an American businessman, entrepreneur, investor, and motivational speaker. He is the founder, president, and CEO of FUBU, a hip-hop apparel company. Today, John’s net worth is around US $350 million. Daymond started working at the age of ten and handed out flyers. After high school, he worked several odd jobs to support his family. John started FUBU in his mother’s house who taught him how to sew. His passion and dedication helped him reach where he is now. Here’s Daymond John’s success story.
Daymond John was born February 19, 1969, in Brooklyn, New York City. For seven years, he attended a catholic school. At the age of 20, his parents got divorced. To make ends meet, John started working at such a young age and handed out flyers for a salary of $2 per hour. While attending high school, he participated in a program that let him work a full-time job and attend school at the same time. From a very young age, Daymond John was hard working and had an entrepreneurial spirit. After high school, John started a commuter van service and also waited tables at a restaurant. In 1992, he along with his friends started FUBU.
John’s career and FUBU
In 1992, Daymond John had the idea of creating an apparel company for young men and that’s how FUBU was created. In addition, his mother taught him how to sew and supported John by allowing him to work in her house. Initially, he sewed a collection of around 90 hats and sold them on the streets of New York. In a single day, they made $800. After hats, they started selling printed T-shirts. John also sold on consignment and at various big events. FUBU wasn’t enough to make ends meet and hence, Daymond started working a full-time job at a restaurant. To generate more money, John and his mother mortgaged their house for $100,000. After this, John started hustling and did everything he could to take FUBU to new heights.
He and his friends started sewing the FUBU logo onto jerseys, T-shirts, and sweaters. In addition, they loaned their clothes to rappers for their music videos and got product placements. They did this for about two years. In 1994, the clothing store Macy’s ordered $300,00 worth of products. To fulfil the orders, John took out a second mortgage on his mother’s house. The company was rejected by 27 banks for a loan. Finally, John’s mother gave the last of her money for printing an advertisement in the NY Times. AT its peak the company did around $350 million in annual sales. Today, FUBU has almost over $6 billion in global sales. In addition to being an entrepreneur, Daymond is also a motivational speaker and consultant. He works with several brands to generate additional revenue streams. He is also a New York Times best-selling author.
Lessons we can learn
With hard work, determination, and persistence, Daymond John built an entire business from scratch and reached new heights. His mother always supported him and allowed her son to achieve his dreams. If we work hard enough and never give up, then anything is possible. From working as a waiter to becoming a millionaire, Daymond John’s story is very inspiring.
What is Daymond John's net worth?
When did John create FUBU?
He founded the fashion brand in 1992.