Assertion Not checkable as stated
Retailer Asked Daymond John to Remove Founders' Photos For Looking 'Gang'
“A large retailer did ask me to take the picture of myself and my three other partners off the hang tag, cause it said we look like a gang.”
Insight
Daymond John: Big-Box Retail Puts More Brands Out of Business Than It Helps
“So by the way, when you go to retail. You do four times the amount of work for half of the reward, right? Because you know, you now have to deal with buyers. You had to become a vendor record. You have to ship it. And by the way, you know, the larger companies…”
Insight
Daymond John Calculated McDonald's Paid More Than Dealing Drugs Risk-Adjusted
“I remember doing the math one day about you know, if I were to work in McDonald's, and if I were to sell drugs over the course of five years, where, when I make more money, and it looked like I would make more money at McDonald's. Because if you look at the dr…”
Insight
Daymond John: Founders unable to answer 'why me, why now' offer copycat products
“So I always ask founders and say, you know, you can't answer why me? Why now? And why this? Then you have a me too product, but you have to add all the time to your career, be able to say, why me? Why now? And why this?”
Insight
Daymond John: Big Retail Chains Track Mom-and-Pop Stores for Trends
“The mom and pop stores are always, they're always much better. The big stores go to the mom and pop stores to look at what is moving.”
Insight
Daymond John: Retaining niche origin story will not alienate broader buyers
“I think that jujitsu, first of all, is the natural history. That's the fubu for us by us. And I think it's a little too early to hop off of that because you want to hang on to something. It does not mean it's going to alienate anybody”
Assertion Supported
Daymond John says Bombas is the most successful Shark Tank product
“Sometimes it's why Bomba Socks is the most successful product in Shark Tank history.”
Opinion
Daymond John says live selling is the best consumer sales channel
“Live selling platforms are the best by far. It is a huge, huge market right now. And we're right at the beginning of it.”
Assertion Not checkable as stated
John: FUBU booked $300,000 in orders without a trade show booth
“So it worked it out, and you know, we would write 300,000 dollars in orders, and that's when I would realize how much capital I really needed.”
Assertion Supported
Samsung agreed to finance FUBU if it reached $5M sales in 3 years
“And the deal with us was that they would finance the manufacture and manufacturing and distribution of our product, but we had to sell five million dollars worth of clothes in three years to keep the deal.”
Assertion Supported
FUBU generated $30 million in sales in three months after partnering with Samsung
“But I had known my customers so well because of all those things that I was doing that as we started to put the brand out there, we did about thirty million dollars in three months.”
Disclosure
Daymond John: FUBU restricted big retailers to preserve brand coolness
“We'd have to stop the retailers. We'd have to not allow them to purchase because some of the kids would look at some of these big retailers and say, well, now FUBU's not cool anymore because it's in these big retailers.”
Insight
Daymond John: A hot fashion brand typically lasts five to seven years
“It goes through cycles, you know, and a hot brand lasts five or maybe six years. Maybe seven years.”
Insight
Daymond John: McDonald's nets more over five years than dealing drugs
“I've always been somewhat analytical, and I remember doing the math one day about you know, if I were to work in McDonald's, and if I were to sell drugs over the course of five years, where, would I make more money, and it looked like I would make more money a…”
Assertion Not checkable as stated
FUBU generated $300,000 in orders pitching from a MAGIC hotel room
“It worked it out, and you know, we would write 300,000 dollars in orders, and that's when I would realize how much capital I really needed.”
Assertion Open · timeframe Apr 2018
Daymond John's mother took out a $100,000 home equity loan for FUBU
“So she goes out and she gets a 100,000 dollar loan on our house.”
Assertion Not checkable as stated
FUBU generated $30 million in sales within three months of financing
“As we started to put the brand out there, we did about thirty million dollars in three months.”
Insight
Daymond John: A hot fashion brand typically lasts five to seven years
“You know, and a hot brand lasts five or maybe six years, maybe seven years.”
Disclosure
Daymond John initially thought Shark Tank sucked and would never succeed
“I went for an audition, and they ended up using the pilot as the first couple of episodes, Shark Tank, and before I know it, the show that I thought would never get anywhere and sucked with these, you know, five business people just talking business all the ti…”
Disclosure
Daymond John requires cost reduction or sales lift to justify investing
“So I'm listening to the story and seeing if it's a play for me. Will I add value? Can I either reduce costs or increase sales by what I'm doing? If not, my money is just as good as anybody else's money.”
Disclosure
Daymond John started CEO Access to turn CEOs into business stars
“And I started a new division called CEO access where I manage CEOs and I try to make them the next sharks.”
Assertion Not checkable as stated
Daymond John Was Rejected by 27 Banks for Early FUBU Financing
“So, I went to all the banks I could, and I got turned down by 27 of them.”
Assertion Not checkable as stated
Daymond John made and sold out 80 handmade FUBU hats in hours
“So I made 80 of them. It took me probably about three hours. I made 80 of them, and I hit that street corner, and I sold all of them.”
Assertion Not checkable as stated
Daymond John: FUBU closed three times between 1989 and 1992
“Through 89 and 92, I closed the business three times because I ran out of money.”
Daymond John