FUBU Founder Goes From $10 Hats to $250M

As of Dec. 2013, Daymond John's company has raked in over $6 billion

   

FUBU (For Us By Us) founder Daymond John went from selling knockoff hats on a street corner in New York to owning a company that has produced over $6 billion in sales.

Daymond John 199x300  FUBU Founder Goes From $10 Hats to $250M
Source: Flickr

The Queens -native started making and selling knockoff ‘tie top hats’ hats for $10 along with next door neighbor Carl Brown. He came up with the idea after seeing the $20 price tag that most stores sold them for and the two were surprised by the immediate success of their business venture. Along with three neighborhood friend, Daymond founded FUBU and made hats, hockey jerseys, t-shirts and sweatshirts.

Daymond’s mother took out a mortgage on her home in order to help him with his startup and even moved out of the house to let him run his business. The FUBU name grew and the young businessman soon saw himself running a factory, showroom and office at home. By 1998, the company had generated over $350 million in revenue and Daymond was worth an astonishing $250 million.

FUBU continued to grow along with Daymond’s ambition and his company went on to produce over $6 billion in sales as of Dec. 2013. On top of that, the young boy from Queens grew up to become a best-selling author, a marketing expert, a refined public speaker and an entrepreneur extraordinaire with several other successful business ventures.


Article printed from InvestorPlace Media, http://investorplace.com/2013/12/fubu-founder-goes-10-hats-250m/.

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