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 $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 at his mother’s house, where she 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 on 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. Daymond John was a hard worker with an entrepreneurial spirit from a young age.
After high school, John started a commuter van service and also waited tables at a restaurant. In 1992, he and 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 him 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.
Daymond John: 5 Reasons Why Education Is the Key to Your Success
He and his pals began by stitching the FUBU brand onto jerseys, T-shirts, and sweaters. In addition, they loaned their garments to rappers for their music videos and were given product placements. They did this for approximately three years.
In 1994, the apparel retailer Macy’s ordered $300,000 in merchandise.To fulfill the orders, John took out a second loan on his mom’s house. The employer turned out to be rejected with the aid of 27 banks for a loan.
Finally, John’s mom gave the ultimate of her money for printing an advertisement within the NY Times. At its peak, the employer did around $350 million in annual sales.
Today, FUBU has nearly $6 billion in worldwide sales. In addition to being an entrepreneur, Daymond is also a motivational speaker and consultant. He works with numerous manufacturers to generate extra sales streams. He is likewise 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 him 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.