Daymond John

Daymond John
Born Daymond Garfield John
(1969-02-23) February 23, 1969
Brooklyn, New York City, U.S.
Residence New York City, U.S.
Nationality American
Occupation Founder, President, and CEO of FUBU
Known for CEO & Founder of FUBU
Net worth US$250 million (2016)[1]
Website daymondondemand.com

Daymond Garfield John[2] (born February 23, 1969) is an American businessman, investor, television personality, author, and motivational speaker. He is best known as the founder, president, and CEO of FUBU, and appears as an investor on the ABC reality television series Shark Tank. Based in New York City, John is the founder of The Shark Group.

Early life

John was born February 23, 1969[3] in Brooklyn, New York City,[4] but grew up in the Queens neighborhood of Hollis.[5] Early jobs included handing out flyers and waiting tables at Red Lobster.[6] In high school, he participated in a program that allowed him to work a full-time job and attend school on an alternating weekly basis, which he credits with instilling an entrepreneurial spirit.[7] After graduating high school, he started a commuter van service.[5]

John didn't attend college so that he could begin supporting his family as soon as possible.[8]

Career

FUBU

John started FUBU in his mother's house in Hollis, Queens.[9] When John first had the idea for a clothing company for young men, his mother taught him how to sew and supported him by allowing her house to be taken over to grow the business.[10]

Wool ski hats with their tops tied off with fishing line were popular, and John noticed them being sold for $20, which he considered overpriced.[11] He went home and sewed around 90 hats with his next-door neighbor.[12] They sold their homemade hats for $10 each and made $800 in a single day.[13] After the hats, they began selling screen printed T-shirts. To break into the market, they sold on consignment and at large events around the Northeast.[14] To make ends meet, John held a full-time job at Red Lobster, working on the FUBU business in between shifts.[15]

Sensing potential, John and his mother mortgaged their house for $100,000 to generate start-up capital.[13] In addition to Brown, he recruited longtime friends J. Alexander Martin and Keith Perrin into the business, and began sewing the FUBU logo onto hockey jerseys, sweatshirts, and T-shirts.[13] They loaned about 10 of the hockey jerseys out to rappers for their music videos for 2 years and got product placements in about 30 videos.[16] They were perceived as a large clothing brand, despite being a relatively small company and stores started requesting their brand.[14] In 1993, he convinced LL Cool J, an old neighborhood friend, to wear a FUBU T-shirt for a promotional campaign.[17] Later, while filming a 30-second advertising spot for The Gap, LL Cool J wore a FUBU hat in the commercial and incorporated the line "for us, by us" in his rapping.[15][18]

In 1992,[19] or 1994,[13] John received $300,000 in orders and also an offer for participating in Macy's (M) at a Las Vegas fashion trade show, MAGIC.[19] They had to take out a second mortgage of his mother's house in order to fulfill the orders.[14][20] After being turned down by 27 banks for a loan, his mother used the last of their money to take out an advertisement in the NY Times.[21] As a result of the ad, FUBU made a deal with Samsung Textiles, allowing them to complete their orders.[21]

FUBU has earned over $6 billion in global sales.[22]

FUBU is featured at the Smithsonian's National Museum of African-American History and Culture.[23]

Shark Tank

In 2009, John received a call from Mark Burnett asking him to join the cast of ABC’s new realty business show Shark Tank, which gives entrepreneurs the opportunity to pitch their businesses to investors, or “Sharks” in the hopes of receiving an investment. The show is now in its 9th season. John has invested $8,567,000 of his own money in Shark Tank companies as of May 12, 2017.[24][25][26][27] His favorite investments on record by 2015 were Al "Bubba" Baker's boneless ribs and Bombas socks.[28] In 2016, Shark Tank won an Emmy Award,[29] and won Outstanding Reality Program from 2012-2014.[30]

John invested in Bubba’s-Q Boneless Ribs on Season 5 of Shark Tank and has helped grow the company from $154,000 in sales to $16 million in 3 years.[31] In 2017, Bubba’s-Q Boneless Ribs partnered up with Carl’s Jr. to create the limited-edition Baby Back Rib Burger.[31]

On Season 6 of Shark Tank, John made a unique deal with 15-year-old Moziah “Mo” Bridges, who is the owner of Mo’s Bows. John decided not to invest in Mo’s Bows but instead to mentor the young entrepreneur.[32][33] Recently, Mo’s Bows agreed to a seven-figure licensing partnership with the NBA to create bow ties that use the teams logos.[34]

After investing in Bombas Socks on Season 6 of Shark Tank, total sales for the company increased from $450,000 in the first nine months to $12 million.[35] For every pair of socks sold, Bombas donates a pair to someone in need and, as of August 2017, they have donated over 4 million pairs of socks.[36][37]

John invested in Sun-Staches on Season 6 of Shark Tank and they have done over $4.2 million dollars in sales.[31][38] Shark Tank has won 4 Emmy Awards and has been nominated 9 times.[39]

The Shark Group

John is the CEO and founder of The Shark Group, a brand management and consulting firm.[40] The Shark Group office is located in Manhattan, New York.[41]

Consulting and speaking

John has become a public speaker.[42][43] He works with brands and celebrities to create additional revenue streams and brand extensions; some of his clients include Pitbull and the Miss Universe Organization.[44] John is also a brand ambassador for the e-commerce company Shopify.[45]

John has been a motivational and business speaker at engagements include California First Lady Maria Shriver's 2010 Women's Conference.[46] AT&T's History Makers Tour,[47] Babson College School of Entrepreneurship,[48] and the Creative LIAisons program at the annual London International Awards.[49]

Publications

John has released three books throughout his career, including Display of Power, The Brand Within, and The Power of Broke.

  • Display of Power[50] is written by Daymond John with New York Times best-selling collaborator, Daniel Paisner.[51] Display of Power tells how four ordinary guys from Queens, New York, rose from street corners to corner offices and became the greatest trendsetters of their generation.[51]
  • The Brand Within: The Power of Branding from Birth to the Boardroom (2010),[52] examines the loyalty relationships companies and celebrities seek to establish with their customers and fans, along with the identifying marks consumers carry when they buy into a brand or lifestyle.[53]
  • The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage was written by John in 2016.[54] John features various success stories from entrepreneurs such as Kevin Plank, Steve Aoki, Gigi Butler and Mo Bridges.[55] The Power of Broke appeared on the Wall Street Journal[55] and New York Times[56] bestseller lists, and received an NAACP Image Award for Outstanding Instructional Literary Work.[57]

In January 2018, John released his 4th book, Rise & Grind: Outperform, Outwork, and Outhustle Your Way to a More Successful and Rewarding Life.[58] Rise and Grind became a New York Times and Wall Street Journal best-seller.[59][60]

Awards and recognition

John is a New York Times and Wall Street Journal best-selling author.[61][62]

John has received numerous awards, including Brandweek Marketer of the Year, the NAACP Entrepreneurs of the Year Award (which he won twice), the Advertising Age Marketing 1000 Award for Outstanding Ad Campaign, the Essence Award, Crain's New York Business Forty Under Forty Award, Ernst & Young's New York Entrepreneur of the Year Award, the Brandeis University International Business School’s Asper Award for Excellence in Global Entrepreneurship, Details 50 Most Influential Men, and the Congressional Achievement Award for Entrepreneurship (which he won twice).[15][24][63][64][65]

In 2015, President Obama appointed John as an ambassador to promote underserved entrepreneurs.[66]

Bibliography

  • Display of Power: How Fubu Changed a World of Fashion, Branding and Lifestyle (Naked Ink, 2007) ISBN 978-1595558534
  • The Brand Within: The Power of Branding from Birth to the Boardroom (Display of Power Publishing, 2010) ISBN 978-0982596210
  • The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage, with Daniel Paisne (Crown Business, 2016) ISBN 978-1101903599 2016
  • Rise and Grind: Outperform, Outwork, and Outhustle Your Way to a More Successful and Rewarding Life, with Daniel Paisne (Currency, 2018) ISBN 978-0804189958

Personal life

John is dyslexic.[67] Two of his favorite books are Think and Grow Rich and Rich Dad Poor Dad.[15] His father is from Trinidad and Tobago.

In April 2017, John was diagnosed with stage II thyroid cancer.[68][69] John successfully underwent surgery to remove the cancerous nodule.[70]

Philanthropy

John is on the Board of Overseers and volunteer as a host or judge at NFTE events.[71][72] NFTE is a global organization with chapters in 12 countries that teaches the value of entrepreneurship and core competencies to students in low income areas.[73]

Filmography

References

  1. ↑ Elkins, Kathleen (January 25, 2016). "'Shark Tank' investor Daymond John says 3 things set billionaires apart". BusinessInsider.com (Axel Springer SE). Archived from the original on February 4, 2018. Retrieved February 4, 2018.
  2. ↑ Glader, Sue (n.d.). "Daymond John, Entrepreneur". The Yale Center for Dyslexia & Creativity. Archived from the original on December 5, 2017.
  3. ↑ John 2018, p. 299.
  4. ↑ Clifford, Catherine (November 22, 2016). "Right as 'Shark Tank' investor Daymond John became really rich, he lost everything". CNBC. Retrieved March 13, 2018.
  5. 1 2 Gault, Ylonda. "40 Under 40: Daymond John, 28]". Crain's New York. Archived from the original on August 16, 2017.
  6. ↑ "From waiting tables at Red Lobster to a $300 million fortune: the rags-to-riches story of Daymond John". BusinessInsider.com (Axel Springer SE). Retrieved 2017-03-21.
  7. ↑ "Daymond John]". TheHistoryMakers.com. September 16, 2003.
  8. ↑ "From waiting tables at Red Lobster to a $300 million fortune: the rags-to-riches story of Daymond John". Business Insider. Retrieved 2018-07-10.
  9. ↑ Harrison, J. D. (October 7, 2014). "When we were small: FUBU". The Washington Post. ISSN 0190-8286. Retrieved 2017-12-09.
  10. ↑ "'Shark Tank' investor Daymond John explains how his mom helped FUBU become a $350 million company". BusinessInsider.com (Axel Springer SE). Retrieved 2017-03-21.
  11. ↑ Kaufman, Leslie. Trying to Stay True to the Streets. The New York Times. March 14, 1999.
  12. ↑ Daymond John: Streets Ahead of the Rest. The Independent. July 18, 2002.
  13. 1 2 3 4 "Daymond John". Shark Tank official website, original version (ABC). Archived from the original on September 5, 2009.
  14. 1 2 3 "When we were small: FUBU". Washington Post. Retrieved 2017-03-21.
  15. 1 2 3 4 Ferriss, Tim. The Making of Fubu - An Interview with Daymond John The 4-Hour Workweek Blog. April 7, 2011.
  16. ↑ "Shark Tank's Daymond John Surfaces With Digestible Tips for Entrepreneurs". QuickBooks. 2015-02-20. Retrieved 2018-07-18.
  17. ↑ Webster, Nancy Colton. FUBU: Daymond John. Advertising Age. June 28, 1999.
  18. ↑ Entrepreneurs Aim to Become Big Names. Sarasota Herald-Tribune. July 27, 2001.
  19. 1 2 "The 5 Habits Shark Tank's Daymond John Wants You To Have". Forbes. Archived from the original on November 5, 2017. Retrieved 2015-11-27.
  20. ↑ CNBC.com, Ellen Lee, Special to (2012-08-07). "How FUBU Founder Daymond John Conquered Urban Fashion". CNBC. Retrieved 2017-03-21.
  21. 1 2 CNBC.com, Ellen Lee, Special to (2012-08-07). "How FUBU Founder Daymond John Conquered Urban Fashion". CNBC. Retrieved 2017-12-11.
  22. ↑ "From waiting tables at Red Lobster to a $300 million fortune: the rags-to-riches story of Daymond John". BusinessInsider.com (Axel Springer SE). Retrieved 2017-12-10.
  23. ↑ "FUBU is featured in The Smithsonian's National Museum of African-Ameri". DaymondJohn.com. Retrieved 2017-03-21.
  24. 1 2 Daymond John. Great Black Speakers.
  25. ↑ Roose, Kevin. From Shark Tank Co-Host, A Dose of Reality for Start-Ups. The New York Times. April 5, 2011.
  26. ↑ 'Shark Tank's' Daymond John Quicker To Go for Jugular These Days. Creators.
  27. ↑ "Daymond John's Shark Tank track record". Sharkalytics. Retrieved 2018-07-23.
  28. ↑ "These are 'Shark Tank' star Daymond John's favorite investments". BusinessInsider.com (Axel Springer SE). Retrieved 2017-03-21.
  29. ↑ "Complete list of 2016 Emmy nominations and winners". Los Angeles Times. 2016-09-18. ISSN 0458-3035. Retrieved 2017-03-21.
  30. ↑ "Site Search". Television Academy. Retrieved 2017-03-21.
  31. 1 2 3 Daymond John, Shark Tank host, FUBU founder. Sharkalytics.
  32. ↑ "Meet the 13-year-old CEO who built a $200,000 business and is mentored by Daymond John". Business Insider. Retrieved 2018-07-09.
  33. ↑ "5 of Daymond John's Most Profitable 'Shark Tank' Deals". Inc.com. 2017-06-07. Retrieved 2018-07-09.
  34. ↑ "Meet the 13-year-old CEO who built a $200,000 business and is mentored by Daymond John". Business Insider. Retrieved 2018-07-27.
  35. ↑ "How Bombas Socks Survived the 'Shark Tank'". SUCCESS. 2016-09-09. Retrieved 2018-07-18.
  36. ↑ "About Us". Bombas. Retrieved 2018-07-18.
  37. ↑ News, A. B. C. (2017-08-02). "Q&A: Entrepreneurs behind the socks company Bombas share career advice". ABC News. Retrieved 2018-07-18.
  38. ↑ Clifford, Catherine (2017-04-15). "How Daymond John's 'biggest deal ever' on 'Shark Tank' went from $154,000 to $16 million in sales". CNBC. Retrieved 2018-07-18.
  39. ↑ "Shark Tank". Television Academy. Retrieved 2018-07-27.
  40. ↑ Daily, Investor's Business (2017-05-15). "'Shark' Daymond John Wrapped His Apparel Brand In Hip-Hop Mystique | Stock News & Stock Market Analysis - IBD". Investor's Business Daily. Retrieved 2018-01-04.
  41. ↑ "'Shark Tank' investor Daymond John is building an entrepreneur hub in a 14-story New York high-rise". BusinessInsider.com (Axel Springer SE). Retrieved 2018-01-04.
  42. ↑ Klara, Robert. Daymond John: Swimming With a Shark (Q&A). AdWeek. April 4, 2011.
  43. ↑ http://www.apbspeakers.com/speaker/daymond-john
  44. ↑ Shark Sighting: Daymond John. YoungHollywood.
  45. ↑ "Shark Tank's Daymond John Partners with Shopify". Shopify's Ecommerce Blog - Ecommerce News, Online Store Tips & More. Retrieved January 24, 2016.
  46. ↑ "Daymond John". The Women's Conference. Archived from the original on November 1, 2010.
  47. ↑ "Daymond John and Common at the Apollo with AT&T". Harlem World. February 18, 2011. Archived from the original on August 17, 2011.
  48. ↑ "Daymond John Speaks at Babson College School Entrepreneurship Event". Daymond John. April 21, 2011. Archived from the original on April 27, 2011.
  49. ↑ Interview with Daymond John of 'Shark Tank'. London International Awards. October 14, 2014. Retrieved October 19, 2017 – via YouTube.
  50. ↑ 1969-, John, Daymond,. Display of power : how FUBU changed a world of fashion, branding, and lifestyle. Paisner, Daniel,. Franklin, Tennessee. ISBN 9781939447678. OCLC 898925544.
  51. 1 2 "Nonfiction Book Review: Display of Power: How Fubu Changed a World of Fashion, Branding and Lifestyle by Daymond John, Author, Daniel Paisner, With Naked Ink $24.99 (223p) ISBN 978-1-59555-853-4". PublishersWeekly.com. Retrieved 2018-08-01.
  52. ↑ 1969-, John, Daymond, (2010). The brand within : the power of branding from birth to the boardroom. Paisner, Daniel. New York, N.Y.: Display of Power Pub. ISBN 9780982596210. OCLC 526069434.
  53. ↑ results, search; Cramer, James "Jim" (2010-04-01). The Brand Within: The Power of Branding from Birth to the Boardroom. New York, N.Y.: Display of Power Publishing, Inc. ISBN 9780982596210.
  54. ↑ 1969-, John, Daymond,. The power of broke : how empty pockets, a tight budget, and a hunger for success can become your greatest competitive advantage. Paisner, Daniel, (First ed.). New York. ISBN 9781101903599. OCLC 919041663.
  55. 1 2 "Best-Selling Books Week Ended Feb. 7". Wall Street Journal. 2016-02-11. ISSN 0099-9660. Retrieved 2018-08-17.
  56. ↑ "Advice, How-To & Miscellaneous Books - Best Sellers - February 7, 2016 - The New York Times". Retrieved 2018-08-17.
  57. ↑ "Rise and Grind by Daymond John, Daniel Paisner | PenguinRandomHouse.com". PenguinRandomhouse.com. Retrieved 2018-08-17.
  58. ↑ 1969-, John, Daymond,. Rise and grind : outperform, outwork, and outhustle your way to a more successful and rewarding life. Paisner, Daniel, (First ed.). New York. ISBN 9780804189958. OCLC 1001564003.
  59. ↑ "Business Books - Best Sellers - February 11, 2018 - The New York Times". Retrieved 2018-08-22.
  60. ↑ "Best-Selling Books Week Ended Jan. 28". Wall Street Journal. 2018-02-02. ISSN 0099-9660. Retrieved 2018-08-22.
  61. ↑ "Best-Selling Books Week Ended Jan. 28". Wall Street Journal. 2018-02-02. ISSN 0099-9660. Retrieved 2018-07-02.
  62. ↑ "Business Books - Best Sellers - March 11, 2018 - The New York Times". Retrieved 2018-07-02.
  63. ↑ McDonough, Kevin. Inspiring Night with Essence Awards. Record-Journal. June 2, 1999.
  64. ↑ #25: Daymond John. Crains New York Business.
  65. ↑ Nance-Nash, Sheryl. FUBU Founder Daymond John Stages His Next Act. Daily Finance. July 24, 2010.
  66. ↑ Pedersen, Erik (2017-09-19). "'Shark Tank's Daymond John Inks With Gersh". Deadline. Retrieved 2017-12-21.
  67. ↑ "'Shark Tank' investor Daymond John explains how his dyslexia helped shape him into an entrepreneur". BusinessInsider.com (Axel Springer SE). Retrieved 2015-12-29.
  68. ↑ Gomez, Patricia (May 10, 2017). "Shark Tank's Daymond John Opens Up About His Private Cancer Battle — and How He Caught the Disease Early". People. Retrieved May 10, 2017. ...says John, 48.
  69. ↑ John 2018, pp. 299–302.
  70. ↑ John 2018, p. 304.
  71. ↑ Lazar, Shira (2012-04-24). "Daymond John on Engaging Young Entrepreneurs and Building a Better Business". Entrepreneur. Retrieved 2018-01-18.
  72. ↑ "» Board Leadership". nfte.com. Retrieved 2018-01-18.
  73. ↑ "» Our Programs". nfte.com. Retrieved January 18, 2018.

Works cited

  • John, Daymond (2018). Rise and Grind: Outperform, Outwork, and Outhustle Your Way to a More Successful and Rewarding Life. New York: Crown Publishing. ISBN 978-0-804-18996-5.
  • Official website
  • The Shark Group official website.
  • "Daymond John". Shark Tank official website (ABC). Retrieved 2017-02-25.
  • Daymond John's Story
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