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Rags to Riches

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“ Rags to Riches”
Taylor Buffington
5665 BADM 304, Spring 2014

Just like many people, we all dream of making it big and creating a name for ourselves in the world. In Daymond John’s case he did just that, along with perserverance and determination. Daymond turned his fast money scheme into a million dollar brand , which further more opened the door and led him into many more million dollar deals later in life.
He was born on February 23, 1969, and grew up in ‘Hollis’ Queens, New York. Along with his seven brothers and sisters, Daymond was raised by his single mother. In his teens, he attended Bayside High School and during that time he participated in a co-op program. This allowed him to go to school on a alternating weekly basis and maintain a full time job at Red Lobster.
Daymond’s first step into the entreprenueral field came from his want of a ‘tie-top’ hat that was a big fashion trend in his later teen years. Because they were such a high demand, tie-top hats were also pricey. Having learned and gain the ability to sew from his mother, Daymond began making personal ‘tie-top’ hats for his friends and himself. He saw this as an opportunity to make decent money and with the help of his neighbor, Carl Brown, they sewed around 100 hats and sold them for $10 in front of New York Coliseum. From one day’s profit, they together made $800 and realized it would be something worth continuing. He began by recruiting childhood friends, J. Alexander Martin and Keith Perrin, and along with Brown and himself they began to personalize different apparel pieces. With the help of his mom, they mortgaged their home for $100,00 and this helped stand as a start-up for the brand; “For Us, By Us”(FUBU), was born.
While still holding a full time job at Red Lobster, Daymond continued to work on the brand. They began sewing the FUBU logo onto jerseys, sweatshirts, t-shirts, and hats and sold them daily. At that time, the music genre that John and his friends grew up on were at an all time high. Music groups like ‘RUN DMC’, and “Salt-N-Peppa’, played as an influence into the style and designs of FUBU products. At the time clothing lines didn’t make clothes directed to this era and style of Hip-Hop, and Daymond saw that as a plus with wanting to get FUBU into the world. Daymond was able to get old neighborhood friend and Hollis native,’ LL Cool J” who was a very popular hip hop star, and concinve him to promote and wear one of the FUBU hats for a commercial. He agreed , and during his commercial for gap, he sported a FUBU hat and even rapped a verse saying, “For Us, By Us”. This set the spark and launch for the FUBU urban brand, and gave it the credibility Daymond and his friends seeked out.
Giving more exposure to their line, the FUBU team went to the famous trade show Magic in Las Vegas. They couldn’t afford a booth at the event but they showed buyers their unique and stylish clothing pieces. They returned to Queens with more than $300,000 worth of orders and soon later signed a contract with Macy’s , J.C. Penney, NBA and a deal with Samsung. By 1998, FUBU was a $350 million business and over the years grew to have over six billion dollars in global sales.
Following the success of FUBU, in 2009 Daymond later joined the ABC casting show, “ Shark Tank”. The show was directed to everyday people who wanted to launch their comoany or product with the help of prominent executives, including Daymond. Daymond has since became partners with certain entrepreneurs and has helped launch and make their dreams into reality. Because of the high deman in viewers for the show, Shark Branding was formed to help provide entrepreneurs and companies with successful marketing techniques and help from Daymond himself. He has also written books on how to plot, create and maintain a successful business as well as his personal journey to success. He has also been very active as a motivational and business speaker and works personally with brands and even celebrities to help create better revenue and more brand extentions for them.
Daymond has received many awards including NAACP Entrepreneur of the Year award, Crain’s Business of New York Forty Under Forty Award, Details 50 Most Influential Men, and many more. His journey to success came from his personal interest, life, surroundings, and determination to provide the world with something unique and made for his people. Along with his friends. Daymond is now one of the most successful fashion icons of his era.

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