HARDSHIP OFTEN PREPARES ORDINARY PEOPLE FOR EXTRAORDINARY DESTINY.
C.S. LEWIS (AUTHOR)
Daymond John a name widely known for his appearance as an investor in the popular American TV show Shark Tank and for the creation of its hip-hop clothing brand FUBU.
John grew up in a middle-class neighborhood raised by his mother and grandfather.
He joined a program where he could do a full-time job and also complete his schooling.
His habit of working from an early age worked as an advantage, further in his life. He noticed that wool hats with fishing lines on the top were popular during the early ’90s and being sold for $20 a piece, which seemed a bit overpriced to him.
This was Daymond’s Eureka moment and he sewed 90 hats along with his friends.
Selling these hats at $10 a piece instantly made him $800.
He, along with his mother sensed an opportunity and converted half of their house into a factory and half as a living quarter, also they mortgaged their house for their startup capital for $100,000.
He recruited some friends and went on to sewing “FUBU” on sports jerseys, sweatshirts, and t-shirts. His brand went popular when he convinced his rapper friend to wear his garment in a promotional show. The brand name FUBU or “for us, buy us” also appealed the masses.
In 1992 John received an order for $300,000 and an invitation to a fashion trade show in Las Vegas.
In 1995, investment by Samsung in FUBU helped him scale globally.
Today net worth of FUBU is around $6 billion and the founder Daymond John himself is worth $300 million.