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Urban youth and youthful are down with FUBU's hip-hop inspired sportswear. Besides making sportswear, FUBU (an acronym for "for us, by us") also licenses its name for men's, women's, and children's wear, as well as footwear and accessories such as watches, eyewear, caps, and bags. The company also offers a line of suits, athletic shoes, tuxedos, and housewares (sheets and pillows in university colors). The company, which is expanding rapidly in Asia, has about 100 franchised stores worldwide. Founders Daymond John, Alexander Martin, Carl Brown, and Keith Perrin own FUBU.
Co-Founder and CEO
A success story, an industry leader, a young entrepreneur, a man who has reached and surpassed new heights of commercial and financial success - just a fraction of classifications used to describe Daymond John. Over the last 18 years, Daymond has evolved into one of the most successful fashion icons in business today. Known as the "Godfather of Urban Fashion," Daymond is also regarded one of the most sought after branding experts and motivational speakers in the country.
Daymond John's creative vision helped revolutionize the sportswear industry in the 1990s. As founder, president and chief executive officer of FUBU -- "For Us, By Us" -- Daymond created distinctive and fashionable sportswear and a host of other related gear. FUBUís phenomenal success made mainstream apparel companies realize the potential for fashionable sportswear that appeals not just to trendsetting urban youth but to mainstream teens as well.
Daymond John was born in the New York City borough of Brooklyn but spent his childhood in the Hollis neighborhood of Queens during the 1970s. An only child, he grew up in a single-parent household headed by his mother who was a flight attendant for American Airlines but often held more than one job.
His first foray into the apparel market came when he wanted a tie-top hat and was put off by the price. Daymond began making the distinctive tie-top hats in the morning and then selling them on the streets of Queens in the evening hours.
One day in 1992, he and his friend sold $800 worth of hats and realized their ideas had definite potential. They created a distinctive logo and began sewing the FUBU logo on hockey jerseys, sweatshirts and t-shirts. Daymond lured some longtime friends into the business and asked his old neighborhood friend, L.L. Cool J., to wear a t-shirt in a photograph for a FUBU promotional campaign in 1993. Daymond and his mother mortgaged the home they collectively owned for $100,000 in start-up capital. Soon, the home was turned into a makeshift factory and office space.
FUBU officially launched in 1994 when Daymond and his partners traveled to an industry trade show in Las Vegas. Buyers liked the distinctively cut, vibrantly-colored sportswear; Daymond and his partners returned to Queens with $300,000 worth of orders. FUBU soon had a contract with the New York City-based department store chain Macy's, and they began expanding their line to include jeans and outerwear. A distribution deal with Korean electronics manufacturer Samsung allowed their designs to be manufactured and delivered on a massive scale.
Daymond participated in the FundingPost event: Miami VC and Angel Event
on Thursday, February 25, 2010 in FL, Sponsored by The Launch Pad at the University of Miami, Ameritech Media
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